BGR Energy IPO Details

Issue Open Dec 5, 2007
Issue Close Dec 12, 2007
IPO Price ₹480
Face Value ₹10
IPO Size ₹438.53 Cr
Listing At BSE, NSE
IPO Lot Size 14

BGR ENERGY SYSTEMS LIMITED

(We were incorporated as GEA Energie Systems India Private Limited on February 18, 1985. Our name was changed to GEA Energy System (India) Private Limited by a resolution of our shareholders on October 17, 1986, and a fresh certificate of incorporation consequent on change of name was issued to us on April 3, 1987 by the Registrar of Companies, Andhra Pradesh at Hyderabad (the "RoC"). Our status was subsequently changed to a public limited company by a special resolution of our shareholders passed at the annual general meeting held on December 10, 1993. The fresh certificate of incorporation consequent on conversion was issued to our B Company on March 3, 1994. Our name was changed to BGR Energy Systems Limited by a resolution of our shareholders on June 25, 2007. The fresh certificate of incorporation consequent to the change in name was issued to our Company on June 28, 2007 by the RoC).
Registered Office: A-5, Pannamgadu Industrial Estate, Ramapuram Post, Sullurpet Village, Nellore District, Andhra Pradesh 524 401, India
Tel: (91 44) 2794 8249; Fax: (91 44) 2794 8359
Corporate Office: 443, Anna Salai, Teynampet, Chennai 600 018, Tamilh Nadu, India.
Tel: (91 44) 2432 6171; Fax: (91 44) 2436 0576
Email: investors@bgrenergy.com; Website: www.bgrcorp.com;
Company Secretary and Compliance Officer: Mr. R. Ramessh Kumar

BASIS OF ALLOCATION

PUBLIC ISSUE OF 9,136,000 EQUITY SHARES OF Rs. 10 EACH OF BGR ENERGY SYSTEMS LIMITED ("BGR ENERGY" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 480 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 470 PER EQUITY SHARE), CONSISTING OF A FRESH ISSUE OF 4,320,000 EQUITY SHARES AND AN OFFER FOR SALE OF 4,816,000 EQUITY SHARES BY MR. B.G. RAGHUPATHY AND MS. SASIKALA RAGHUPATHY (THE "SELLING SHAREHOLDERS"), AGGREGATING Rs. 4,385.28 MILLION (THE "ISSUE"). THE ISSUE COMPRISES A NET ISSUE TO THE PUBLIC OF 8,636,000 EQUITY SHARES OF RS. 10 EACH (THE "NET ISSUE") AND A RESERVATION OF UP TO 500,000 EQUITY SHARES OF RS. 10 EACH FOR ELIGIBLE EMPLOYEES (AS DEFINED HEREIN) (THE "EMPLOYEE RESERVATION PORTION"). THE ISSUE CONSTITUTES 12.69% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY. THE NET ISSUE CONSTITUTES 11.99% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY.

ISSUE PRICE:Rs.480 PER EQUITY SHARE OF FACE VALUE RS. 10/-
THE ISSUE PRICE IS 48.0 TIMES OF THE FACE VALUE.

In terms of Rule 19 (2) (b) of the SCRR, as being an issue for less than 25% of the Post-Issue equity share capital, the Issue is being made through the 100% Book Building Process wherein at least 60% of the Net Issue shall be allocated on a proportionate basis to QIB Bidders out of which 5% of the QIB Portion shall be available for allocation on a proportionate basis to the Mutual Funds only and the remainder of the QIB portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. If at least 60% of the Net Issue cannot be allotted to QIBs, then the entire application money will be refunded forthwith. Further, not less than 30% of the Net Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders and not less than 10% of the Net Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders, subject to valid Bids being received at or above the Issue Price. Further upto 500,000 Equity Shares shall be available for allocation on a proportionate basis to the Eligible Employees, subject to valid bids being received at or above Issue Price.

The Issue received 820,758 applications for 1,051,839,606 equity shares resulting in 115.1313 times subscription. The details ot the applications received in the Issue from Qualified Institutional Bidders, Non-Institutional and Retail Investor categories are as under: (Before technical rejections)

Category No. of Applications No. of Shares Subscription
Qualified Institutional Bidders 359 802615044 154.8971
Non Institutional Investors 2445 128610048 148.9232
Retail investors 817614 119889258 46.2750
Employee 340 725256 1.4505

Final Demand
A summary of the final demand at different bid prices as per the electronic book is as under:

Bid Price No. of Shares % to Total Cumulative Total Cumulative % to total
425

6703228

0.6063

1105623722

100.0000
426

1960

0.0002

1098920494

99.3937
427

602

0.0001

1098918534

99.3935
428

518

0.0000

1098917932

99.3935
429

182

0.0000

1098917414

99.3934
430

10416

0.0009

1098917232

99.3934
431

42

0.0000

1098906816

99.3925
432

280

0.0000

1098906774

99.3925
433

168

0.0000

1098906494

99.3924
434

28

0.0000

1098906326

99.3924
435

4928

0.0004

1098906298

99.3924
436

126

0.0000

1098901370

99.3920
437

224

0.0000

1098901244

99.3920
438

224

0.0000

1098901020

99.3920
440

100562

0.0091

1098900796

99.3919
441

14

0.0000

1098800234

99.3828
442

140

0.0000

1098800220

99.3828
443

364

0.0000

1098800080

99.3828
444

238

0.0000

1098799716

99.3828
445

62608

0.0057

1098799478

99.3828
446

14532

0.0013

1098736870

99.3771
448

9240

0.0008

1098722338

99.3758
449

56

0.0000

1098713098

99.3750
450

466620

0.0422

1098713042

99.3750
451

140

0.0000

1098246422

99.3327
452

4424

0.0004

1098246282

99.3327
453

572628

0.0518

1098241858

99.3323
454

252

0.0000

1097669230

99.2805
455

5501188

0.4976

1097668978

99.2805
456

364

0.0000

1092167790

98.7830
458

42

0.0000

1092167426

98.7829
459

210

0.0000

1092157384

98.7829
460

145474

0.0132

1092167174

98.7829
461

210

0.0000

1092021700

98.7697
462

70

0.0000

1092021490

98.7697
464

168

0.0000

1092021420

98.7697
465

156352

0.0141

1092021252

98.7697
466

196

0.0000

1091864900

98.7556
467

266

0.0000

1091864704

98.7555
468

70

0.0000

1091864438

98.7555
469

196

0.0000

1091864368

98.7555
470

96390

0.0087

1091864172

98.7555
471

42

0.0000

1091767782

98.7468
472

98

0.0000

1091767740

98.7468
473

84

0.0000

1091767642

98.7468
474

210

0.0000

1091767558

98.7468
475

96404

0.0087

1091767348

98.7467
476

19754

0.0018

1091670944

98.7380
477

182

0.0000

1091651190

98.7362
478

1274

0.0001

1091651008

98.7362
479

1834

0.0002

1091649734

98.7361
480 975607472 88.2405

1091647900

98.7359
CUT OFF 116040428 10.4955

116040428

10.4955
TOTAL 1105623722

The Basis of Allocation for all the categories namely Retail Individual Investors, Non Institutional Investors and Qualified Institutional Buyers was finalised in consultation with National Stock Exchange of India Limited (Designated Stock Exchange) on 24 December 2007.
The IPO Committee of the Company at it's meeting held at the Registered Office in Andhra Pradesh on December 26, 2007 has approved the basis of allocation of shares of the Issue and has allotted the shares to various successful applicants.

A. Allotment to Retail Investors (After Technical Rejections)
All the bidders in the Retail Investors, who have bid at cut-off or at the Issue Price of Rs. 480/- per Equity Share, have been considered while preparing the basis of allocation. The category was over subscribed 45.377065 times. The total number of shares allotted in this category is 2590812 Equity Shares. The category-wise details of the Basis of Allocation are as under:

Category
(No. of Shares)
No. of Applns. % to total Total No.
of Shares
applied
% to total No. of
Shares
allocated
Ratio Total No. of Shares allocated
14 43588 5.44

610232

0.52

14

1:48 12754
28 39486 4.93 1105608 0.94

14

1:24 23072
42 31710 3.96 1331820 1.13

14

3:47 28364
56 25755 3.22 1442280 1.23

14

4:47 30730
70 28885 3.61 2021950 1.72

14

5:46

43960
84 16374 2.05 1375416 1.17

14

3:23 29904
98 66068 8.25 6474664 5.51

14

7:46 140756
112 25612 3.20 2868544 2.44

14

4:23 62356
126

8560

1.07 1078560 0.92

14

9:46 23450
140 19485 2.43 2727900 2.32

14

5:23 59304
154

5757

0.72

886578

0.75

14

11:46 19278
168

6221

0.78 1045128 0.89

14

6:23 22722
182

5648

0.71 1027936 0.87

14

13:46 22344
196 477379 59.63 93566284 79.59

14

31:100 2071818

B. Allotment to Non Institutional Investors (After Technical Rejections)
All the bidders in the Non-Institutional Investors, who have bid at the Issue Price of Rs. 480/- per Equity Share, have been considered while preparing the basis of allocation. The category was over subscribed 147.912626 times. The total number of shares allocated in this category is 863588 Equity Shares. The category-wise details of the Basis of Allocation are as under (Sample):

Category
(No. of Shares)
No. Of Applns. % to total Total No.
ol Shares
applied
% to total No. of Shares allocated Ratio Total No. of Shares allocated
210 516 29.04

108360

0.08

14

1:10 728
224

65

3.66

14560

0.01

14

1:9

98
238

13

0.73

3094

0

14

1:13 14
252

15

0.84

3780

0

14

2:15 28
266

3

0.17

798

0

14

1:3

14
280

54

3.04

15120

0.01

14

1:8

98
294

8

0.45

2352

0

14

1:8

14
308

25

1.41 |

7700

0.01

14

1:6

56
322

8

0.45

2576

0

14

1:8

14
336

1

0.06

336

0

14

FIRM 14
350

13

0.73

4550

0

14

2:13 28
378

3

0.17

1134

0

14

1:3

14
392

20

1.13

7840

0.01

14

1:5

56
406

8

0.45

3248

0

14

1:8

14
434

3

0.17

1302

0

14

1:3

14
420

32

1.8

13440

0.01

14

3:16 84
616

10

0.56

6160

0

14

3:10 42
980

12

0.68

11760

0.01

14

1:2

84
1050

14

0.79

14700

0.01

14

1:2

98
42000

11

0.62 462000 0.36 283 FIRM 3113
84000

6

0.34 504000 0.39 567 FIRM 3402
105000

14

0.79 1470000 1.15 709 FIRM 9926
105210

13

0.73 1367730 1.07 711 FIRM 9243
210420

6

0.34 1262520 0.99 1422 FIRM 8532
220500

5

0.28 1102500 0.86 1490 FIRM 7450
315000

6

0.34 1890000 1.48 2129 FIRM 12774
416640

5

0.28 2083200 1.63 2816 FIRM 14080
420000

5

0.28 2100000 1.64 2839 FIRM 14195
525000

3

0.17 1575000 1.23 3549 FIRM 10647
863576

3

0.17 2590728 2.03 5838 FIRM 17514
1041656

2

0.11 2083312 1.63 7042 FIRM 14084
1085000

3

0.17 3255000 2.55 7335 FIRM 22005
2083326

3

0.17 6249978 4.89 14085 FIRM 42255
2146998

1

0.06 2146998 1.68 14515 FIRM 14515
2192960

1

0.06 2192960 1.72 14826 FIRM 14826
2931978

1

0.06 2931978 2.3 19822 FIRM 19822
6249992

1

0.06 6249992 4.89 42255 FIRM 42255

C. Allotment to Employees (After Technical Rejections)
All the bidders in the Employee Category, who have bid at the Issue Price of Rs. 480/- per Equity Share, have been considered while preparing the basis of allocation. The category was over subscribed 1.446676 times. The total number of shares allocated in this category is 500000 Equity Shares. The category-wise details of the Basis of Allocation are as under (Sample):

Category
(No. ot Shares)
No. of Applns. % to total Total No.
ot Shares
applied
% to total No. of Shares allocated Ratio Total No. of Shares allocated
210 516 29.04 108360 0.08

14

1:10 728
14

2

0.59

28

0

14

FIRM 28
28

10

2.97

280

0.04

19

FIRM 190
42 11 3.26 462 0.06 29 FIRM 319
56

6

1.78

336

0.05

39

FIRM 234
98

10

2.97

980

0.14

68

FIRM 680
112

7

2.08

784

0.11

77

FIRM 539
126

2

0.59

252

0.03

87

FIRM 174
140

3

0.89

420

0.06

97

FIRM 291
154

2

0.59

308

0.04 107 FIRM 214
210

9

2.67

1890

0.26 145 FIRM 1305
224

5

1.48

1120

0.15 155 FIRM 775
238

3

0.89

714

0.1 165 FIRM 495
252

7

2.08

1764

0.24 174 FIRM 1218
602

2

0.59

1204

0.17 416 FIRM 832
616

2

0.59

1232

0.17 426 FIRM 852
630

4

1.19

2520

0.35 436 FIRM 1744
1526 1

0.3

1526

0.21 1055 FIRM 1055
1540 1

0.3

1540

0.21 1065 FIRM 1065
1638 1

0.3

1638

0.23 1132 FIRM 1132
3892 1

0.3

3892

0.54 2690 FIRM 2690
3948 1

0.3

3948

0.55 2729 FIRM 2729
4018 1

0.3

4018

0.56 2777 FIRM 2777
4158 1

0.3

4158

0.57 2874 FIRM 2874
4396 1

0.3

4396

0.61 3039 FIRM 3039
4648 2 0.59

9296

1.29 3213 FIRM 6426
17262 1

0.3

17262

2.39 11932 FIRM 11932
18074 1 0.3 18074 2.5 12493 FIRM 12493
22778 1

0.3

22778

3.15 15745 FIRM 15745
22960 1

0.3

22960

3.17 15871 FIRM 15871
28392 1

0.3

28392

3.93 19626 FIRM 19626
28504 1

0.3

28504

3.94 19703 FIRM 19703
29820 1

0.3

29820

4.12 20613 FIRM 20613
76510 1

0.3

76510

10.58 52865 FIRM 52865

D. Allocation to QIBs
Allocation to QIBs has been done on a proportionate basis in consultation with NSE.
As per the SEBI Guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available 259,080 and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares 4,922,520 on proportionate basis.

Category Financial institutions /Banks Mutual Funds Foreign
Institutional Investors
VCs Insurance Companies Total
Shares Allotted 946325 897950 2911897 14177 411251 5181600
Dates of despatch of Refund Orders, Credit to beneficiary Accounts, Refund instructions and Listing details
Activity Date of Completion
Approval of Basis of Allotment by NSE 24th December, 2007
Despatch of Allotment Advices, Refund Orders and ECS Intimation Note On or before 27th December, 2007
Refund Instructions to the Clearing System On or before 27th December, 2007
Listing Application to BSE & NSE 28th December, 2007
Credit to beneficiary Accounts On or before 27th December, 2007

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 15 centres specified by SEBI. For other applicants Refund Orders have been despatched to their address as registered with the depositories. In case the same is not received within ten days, applicants may contact at the address given below. ECS Intimation Note and Refund Orders have been over-printed with the Bank Mandate details as registered, if any, with the depositories. The Equity Shares allotted to successful applicants have been credited to their beneficiary accounts.
The company is taking steps to get the equity shares admitted for trading on Bombay Stock Exchange Limited and National Stock Exchange of India Limited within seven working days from the date of approval of the basis of allotment.

INVESTORS PLEASE NOTE

The details of the allocation made would be hosted on the website of Registrars to the Issue, Intime Spectrum Registry Limited at www.intimespectrum.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:

INTIME SPECTRUM REGISTRY LIMITED
C-13, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (W), Mumbai - 400 078
Tel: +91 - 22 - 2596 0320, Fax: +91 - 22 - 2596 0329
Email: bgrenergy-ipo@intimespectrum.com, Website: www.intimespectrum.com
Contact person: Mr. Sachin Achar



Place : Mumbai
Date : 26th December, 2007
For BGR ENERGY SYSTEMS LIMITED
On behalf of the Board of Directors
Sd/-
Managing Director

BGR Energy IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in BGR Energy IPO?

    Check the basis of allotment document above to know about how the shares are allocated in BGR Energy 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 BGR Energy IPO basis of allotment status?

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

    Visit the BGR Energy IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is BGR Energy IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in BGR Energy 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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