Alkali Metals IPO Details

Issue Open Oct 7, 2008
Issue Close Oct 15, 2008
IPO Price ₹103
Face Value ₹10
IPO Size ₹26.27 Cr
Listing At BSE, NSE
IPO Lot Size 65

ALKALI METALS LIMITED

(Our Company was incorporated on April 17,1968 as Alkali Metals Private Limited under the provisions of the Companies Act, 1956 in Hyderabad, Andhra Pradesh with Registration No. 01 -001196. Our Company became a deemed public limited company on June 18,1975 under the Companies Act, 1956 and subsequently converted into a private limited company on October 6,1976. Our Company again became a deemed public company on July 6,1977 and the name was changed to Alkali Metals Limited, after which it was again converted into a private limited company on November 10,1986 and named Alkali Metals Private Limited. Our Company was converted into a public limited company and called Alkali Metals Limited vide a fresh Certificate of Incorporation dated July 29,1992)
Registered Office: B-5, Block III, Industrial Development Area, Uppal. Hyderabad-500 039, Andhra Pradesh, India.
Tel: +91 40 2720 2298,2720 1179; Fax: +91 40 27201454; Email: secretarial@alkalimetals.com;
Website: www.alkalimetals.com
Contact Person: Mr. Vasudeva Rao Devaki, Company Secretary & Compliance Officer.

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 2,550,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH ('EQUITY SHARES') FOR CASH AT A PRICE OF RS. 103 PER EQUITY SHARE (INCLUDING A PREMIUM OF RS. 93 PER EQUITY SHARE) AGGREGATING Rs. 262.65 MILLION ('THE ISSUE'). THE ISSUE SHALL CONSTITUTE 25.04 % OF THE POST ISSUE PAID UP CAPITAL OF OUR COMPANY.
ISSUE PRICE: RS. 103 PER EQUITY SHARE OF THE FACE VALUE OF RS. 10/- EACH
THE ISSUE PRICE IS 10.3 TIMES OF THE FACE VALUE

This Issue was made through a 100% Book Building Process wherein upto 50% of the Issue will be allocated to Qualified Institutional Buyers (QIBs) on a proportionate basis, subject to valid bids being received at or above the Issue Price. Out of the portion available for allocation to the QIBs, 5% will be available for allocation to Mutual Funds only. Mutual Fund Bidders shall also be eligible for proportionate allocation under the balance available for the QIBs. Further, atleast 15% of the Issue shall be available for allocation on a proportionate basis to Non Institutional Bidders and atleast 35% of the Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid bids being received at or above the Issue Price.
The Issue received 1,315 applications for 25,88,365 Equity Shares resulting in 1.02 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional, Retail Individual Investor categories are as under: (Before technical rejections)

Category No. of Applications No. of Shares Subscription(No. of times)
Qualified Institutional Buyers 1 9,12,665 0.72
Non Institutional Investors 57 11,78,710 3.08
Retail Individual Investors 1257 4,96,990 0.55

Final Demand
A sample of the final demand at different bid prices is as under:

BID PRICE NO.OF BIDS NO. OF EQUITY SHARES CUMULATIVE SHARES % TO ALLOCATION
999999 1352 5,43,985 5,43,985 21.33
103 129 21,34,795 26,78,780 105.05
99 1 65 26,78,845 105.05
97 1 65 26,78,910 105.06
95 6 8,775 26,87,685 105.40
93 1 65 26,87,750 105.40
92 1 65 26,87,815 105.40
90 7 585 26,88,400 105.43
88 1 195 26,88,595 105.44
87 1 195 26,88,790 105.44
86 5 9,620 26,98,410 105.82

The Basis of Allotment was finalized in consultation with The Bombay Stock Exchange Limited ('BSE') on October 24, 2008. The Board of Directors of the Company at its Meeting held at Hyderabad, on October 24,2008, allotted the Equity Shares to the successful applicants. Details of valid applications received and allotments done are as under:

A. Allotment to Retail Individual Investors (After Technical Rejections)
The Basis of Allotment to Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 103/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 0.55 times and the undersubscribed portion of 3,97,330 equity shares, have been added to the Non Institutional category for allotment. A total of 4,95,170 equity shares have been allotted to 1,240 successful applicants in this category. The category wise details are as under:

Category No. Of
Applns.
% to
Total
Total No. of
Shares applied
% to
Total
No. of
Shares allocated
Ratio Total No. of
Shares allocated
65 220 17.74 14,300 2.89 65 FIRM 14,300
130 12 0.97 1,560 0.32 130 FIRM 1,560
195 5 0.40 9.75 0.20 195 FIRM 9,75
260 632 50.97 1,64.320 33.18 260 FIRM 1,64,320
325 1 0.08 325 0.07 325 FIRM 325
390 3 0.24 1,170 0.24 390 FIRM 1,170
455 12 0.97 5,460 1.10 455 FIRM 5;460
520 38 3.06 19,760 3.99 520 FIRM 19,760
650 3 0.24 1,950 0.39 650 FIRM 1,950
715 1 0.08 715 0.14 715 FIRM 715
780 1 0.08 780 0.16 780 FIRM 780
845 1 0.08 845 0.17 845 FIRM 845
910 311 25.08 2,83,010 57.15 910 FIRM 2,83,010

B. Allotment to QIBs
The category was subscribed 0.72 times and the undersubscribed portion of 3,62,335 equity shares, have been added to the Non Institutional category for allotment A total of 9,12,665 equity shares have been allotted to 1 successful applicant on a firm allotment basis, details of which are as under:

Category Fls/Banks MFs Flls VCs Total
No. of Shares Nil Nil 9,12,665 Nil 9,12,665

C. Allotment to Non Institutional Investors (After Technical Rejections)
The basis of allotment to Non Institutional Investors, who have bid at the Issue Price of Rs. 103 per Equity Share, was finalized in consultation with BSE. The category was over subscribed 3.08 times. The total number of equity shares allotted in this category is 11,42,165 to 54 successful applicants, which includes the original reservation of 3,82,500 Equity Shares and spill over from QIB and Retail category of 3,62,335 and 3,97,330 Equity Shares respectively. All the applicants in this category have been given firm allotment on proportionate basis, inverse to the oversubscription ratio.

Dates of dispatch of Refund Orders, Credit to beneficiary Accounts, Refund Instructions and Listing details
Activity Proposed Date of Completion
Approval of Basis of Allotment by BSE October 24, 2008
Dispatch of Allotment Advices, Refund Orders and ECS Intimation Note October 29, 2008
Refund Instructions to the Clearing System (in case of Refunds through ECS system) October 29, 2008
Instructions to the Self Certified Syndicate Banks (SCSBs) by the registrar October 27, 2008
Listing Application to BSE & NSE October 27, 2008
Credit to beneficiary Accounts October 29, 2008

Refunds have been made through ECS, Direct credit, RTGS and NEFT, into the Bank Accounts of the applicants, as registered with the depositories, for applicants residing at any of the 68 centers specified by SEBI. For other applicants Refund Orders have been dispatched to their address as registered with the depositories. In case the same is not received within ten days, investors may contact at the address given below. The Refund Orders have been over-printed with the Bank Mandate details as registered, if any, with the depositories. The shares allocated to successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. The company is taking steps to get the equity shares admitted for trading on the Bombay Stock Exchange Limited and The National Stock Exchange of India Limited within seven Working days from the date of approval of the basis of allotment.

INVESTORS PLEASE NOTE
This details ol the allotment made would be hosted on the website of Registrars to the Issue,
Cameo Corporate Services Limited at www.cameoindia.com.

All future correspondence in this regard may kindly be addressed to the Registrars to the issue quoting full name of the First/ Sole applicant, Serial number of the bid-cum-application form, number of shares bid for, name of the Member of the Syndicate and Place where the bid was submitted and payment details at the address given below:

CAMEO CORPORATE SERVICES LIMITED
Subramanian Building, No.1, Club House Road, Chennai - 600 002.
Tel No: +91 44 2846 0390/1948; Fax: +91 44 2846 0129;
Email: cameo@cameoindia.com

Date : October 25, 2008
Place : Mumbal
For Alkali Metals Limited
Sd/-
Vasudeva Rao Devaki
Company Secretary and Compliance Officer

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF ALKALI METALS LIMITED

Alkali Metals IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Alkali Metals IPO?

    Check the basis of allotment document above to know about how the shares are allocated in Alkali Metals IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).
  2. 2. What is Alkali Metals IPO basis of allotment status?

    The Alkali Metals IPO basis of allotment (published above) tells you how shares are allocated to you in Alkali Metals IPO and category wise demand of IPO share.

    Visit the Alkali Metals IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Alkali Metals IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Alkali Metals IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).








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