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Circuit Systems IPO Details

Issue Open Sep 27, 2007
Issue Close Oct 5, 2007
IPO Price ₹35
Face Value ₹10
IPO Size ₹14.86 Cr
Listing At BSE
IPO Lot Size

CIRCUIT SYSTEMS (INDIA) LIMITED

(The Company was originally incorporated on 08th February 1995 as Circuit Systems (India) Limited at Gujarat, Dadra & Nagar Haveli vide Registration Number: 04-24524. Thereafter the company was converted into a Private Limited Company and consequently the name was changed to Circuit Systems (India) Private Limited on 01st August 2001 and thereafter the company was reconverted into public company and the name was changed to Circuit Systems (India) Limited vide fresh certificate of incorporation dated 07th October 2005.)

Registered Office & Corporate Office: B-24, GIDC Electronics Estate, Sector- 25, Gandhinagar 382 044, Gujarat, India.
(At the time of incorporation, the registered office of the company was situated at 167, Azad Society, Ambawadi, Ahmedabad-380015 which was then shifted to B-9-10, GIDC Electronic Estate, Sector-25, Gandhinagar -382044 w.e.f. 17th June 1996, and thereafter It was shifted to B-24, GIDC Electronic Estate, Sector-25, Gandhinagar w.e.f. 11th December 1997, and thereafter it was shifted to B-14, Neeldeep Apartment, Opp. Milan Park, B/h Lad Society, Vastrapur, Ahmedabad w.e.f. 15th March, 2001 and thereafter it was shifted to D - 402, Status Apartment, Thaltej Road, Nr Drive in, Thaltej, Ahmedabad w.e.f. 01st September, 2001 and thereafter w.e.f. 01st December, 2001 the registered office of the Company has been shifted to the present address)
Tel: 91-79-23242781/2/3 Fax: 91-79-23242784, E-mail: cs@mycsil.com; Website: www.mycsil.com

Contact person: Mr. Paras Mehta, Company Secretary and Compliance Officer

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 42,44,810 EQUITY SHARES OF Rs.10/- EACH FOR CASH AT A PREMIUM OF RS.25/- PER EQUITY SHARE AGGREGATING TO RS.1485.00 LAKHS INCLUDING PROMOTER CONTRIBUTION OF 12,44,810 EQUITY SHARES OF RS.10/- FOR CASH AT A PREMIUM OF RS.25/- PER EQUITY SHARE AGGREGATING TO RS.435.68 LAKHS AND A NET ISSUE TO THE PUBLIC OF 30,00,000 EQUITY SHARES OF RS.10/- EACH FOR CASH AT A PREMIMUM OF RS.25/- PER EQUITY SHARE AGGREGATING TO RS.1050 LAKHS

THE FACE VALUE OF THE EQUITY SHARES IS RS. 10/- PER EQUITY SHARE AND THE ISSUE PRICE OF RS. 35 PER EQUITY SHARE IS 3.5 TIMES OF THE FACE VALUE. THE NET ISSUE WOULD CONSTITUTE 25% OF THE FULLY DILUTED POST ISSUE PAID UP CAPITAL OF CIRCUIT SYSTEMS (INDIA) LIMITED.

The Board of Directors thanks the investing public for their overwhelming response to the Public Issue, which opened for subscription on September 27,2007 and closed on October 05,2007. The Company received 19227 gross applications for 1,71,58,200 equity shares of which valid applications were 18,774 for 1,67,44,000 equity shares. Of the total valid applications received, 18,736 applications were in Retail category for 1,45,47,200 equity shares and 38 applications were in the Non- Retail category for 21,96,800 equity shares.

The Public issue was subscribed 5.57 times in Retail category and 5.63 times in Non-Retail category. The Public Issue was subscribed overall 5.58 times.

In terms of the Prospectus and also as per the guidelines issued by SEBI, not less than 50% of the net offer to the Public shall be available for allotment to Retail Individual Investors and balance 50% of the net offer to the public shall be available for allotment to individual applicants other than Retail Individual Investors and other investors including Corporate Bodies / Institutions irrespective of number of shares applied for. However, out of the total subscription, 86.88% were applied by Retail investors and 13.12% were applied by Non-Retail investors. Hence, the Basis of Allotment was drawn in the proportion of the subscription, i.e. 87% was proposed to be allotted to Retail Investors and the balance, i.e. 13% to Non-Retail Investors in consultation with Bombay Stock Exchange Limited

As required under the Listing Agreement, the Basis of Allotment has been approved by the designated Stock Exchange i.e. Bombay Stock Exchange Ltd. on October26,2007.

The details of the valid applications received in the Issue from Retail Individual Investors, Non-Retail Investors and Promoter categories are as under (after technical rejections):

Category No. of
Valid
Applications
%of Applications No. of Allottees %of Allottees No. of
Equity Shares
alloted
No of
Equity
Shares offered
Subscription (times)
Retail Investors 18736 99.78 9789 99.57 2610000 2610000 5.57
Non Institutional Investors 38 0.20 38 0.39 390000 390000 5.63
Promoter Contribution* 4 0.02 3 0.04 744810 744810 -
Total 18778 9830 3744810 3744810

*Out of the total promoters contribution of 12,44,810 Equity shares, 100,000 and 4,00,000 number of Equity shares have already been allotted to promoters on February 14,2007and March 30,2007 as mentioned in the Prospectus

A. Allotment to Retail Investors

The Basis of Allotment to the Retail Investors, at the issue price of Rs.35/- per Equity Shares, was finalised in consultation with BSE on October 26,2007. The category was oversubscribed by 5.57 times. The total number of shares allotted in this category is 26,10,000 Equity Shares. The categorv-wise details of the Basis of Allotment are as under:

Category No. of Applns. %of Total Total No. of Shares Applied % of Total No. of Shares allotted Ratio Total No. of Shares allocated
200 6718 35.86 1343600 9.24 200 9:50 241600
400 3565 19.03 1426000 9.80 200 33:92 255800
600 1969 10.51 1181400 8.12 200 7:13 212000
800 770 4.11 616000 4.23 200 28:39 110600
1000 1956 10.44 1956000 13.45 200 35:39 351000
1200 294 1.57 352800 2.43 215 FIRM 63210
1400 1064 5.68 1489600 10.24 251 FIRM 267064
1600 165 0.88 264000 1.81 287 FIRM 47355
1800 45 0.24 81000 0.56 323 FIRM 14535
2000 265 1.41 530000 3.64 359 FIRM 95135
2200 68 0.36 149600 1.03 395 FIRM 26860
2400 83 0.44 199200 1.37 431 FIRM 35773
2600 46 0.25 119600 0.82 466 FIRM 21436
2800 1728 9.22 4838400 33.26 502 FIRM 867456
2800Addln 1728 1 6:59 176
Total 18736 14547200 2610000

B. Allotment to Non-Retail investors

The Basis of Allotment for the Non-Retail Investors, who have applied at the issue price of Rs.35/- per Equity Shares for a total amount of more than Rs.1,00,000/-, was finalized in consultation with BSE on October 26..2007. The category was oversubscribed 5.63 times. The total number of shares allotted in this category is 3,90,000 Shares. The category-wise details of the Basis of Allotment are as under:

Category No. of Applications % of Total Total No. of Shares Applied % of Total Proportional Allocation Ratio of Allotment Total No. of Shares allocated
600 1 2.63 600 0.03 107 FIRM 200
3000 3 7.89 9000 0.41 1598 FIRM 1599
4000 1 2.63 4000 0.18 710 FIRM 710
5000 5 13.16 25000 1.14 4438 FIRM 4440
6000 1 2.63 6000 0.27 1065 FIRM 1065
8400 1 2.63 8400 0.38 1491 FIRM 1491
10000 2 5.26 20000 0.91 3551 FIRM 3550
11000 1 2.63 11000 0.50 1953 FIRM 1953
14000 3 7.89 42000 1.91 7456 FIRM 7455
14200 2 5.26 28400 1.29 5042 FIRM 5042
15000 2 5.26 30000 1.37 5326 FIRM 5326
20000 2 5.26 40000 1.82 7101 FIRM 7102
22600 1 2.63 22600 1.03 4012 FIRM 4012
40000 1 2.63 40000 1.82 7101 FIRM 7101
57000 1 2.63 57000 2.59 10119 FIRM 10119
72000 2 5.26 144000 6.55 25564 FIRM 25564
100000 2 5.26 200000 9.10 35506 FIRM 35506
110000 2 5.26 220000 10.01 39057 FIRM 39056
142800 1 2.63 142800 6.50 25351 FIRM 25351
198000 1 2.63 198000 9.01 35151 FIRM 35151
225000 1 2.63 225000 10.24 39944 FIRM 39944
300000 1 2.63 300000 13.66 53259 FIRM 53259
423000 1 2.63 423000 19.26 75096 FIRM 75004
Total 38 2196800 390000

The Board or Directors or the Company, at its Meeting held on October 27, 2007 at the Registered Office of the Company has approved the basis of allotment of shares of the issue and has allotted the shares to various successful applicants.

Refunds have been made through RTGS, ECS and Direct credit into the Bank Accounts of the applicants or Refund orders as the case may be to their address 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 overprinted 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 within seven working days from the date of approval of the basis of allotment.

INVESTORS PLEASE NOTE:

These details of the allotment made have been hosted on the website of Registrars to the Issue, Cameo Corporate Services Ltd. 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 application, DPID and Client ID, number of shares applied for, Bank branch name where the application was submitted and payment details at the address given below.

Cameo Corporate Services Ltd, 'Subramanian Building', No.1, Club House Road, Chennai 600 002,
Phone : 044 2846 0390 /1989/ 0014, Fax : 044-2846 0129, Email: cameo@cameoindia.com or investor@cameoindia.com

Place : Gandhinagar
Date : October 31,2007

For CIRCUIT SYSTEMS (INDIA) LIMITED
Sd/-
Paresh N. Vasani
Managing Director

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF CIRCUIT SYSTEMS (INDIA) LIMITED

Circuit Systems IPO Basis of Allotment FAQs

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

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

Visit the Circuit Systems IPO allotment status page to check the number of shares allocated to your application.

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