Cords Cable IPO Details

Issue Open Jan 21, 2008
Issue Close Jan 24, 2008
IPO Price ₹135
Face Value ₹10
IPO Size ₹41.65 Cr
Listing At BSE, NSE
IPO Lot Size 50

Cords Cable Industries Limited

(Our Company was incorporated on October 21, 1991 as Cords Cable Industries Private Limited. Our Company became Deemed Public Company by virtue of Section 43A (1A) of the Companies Act, 1956, with effect from July 1, 1997. Our Company became a Private Limited Company due to insertion ot clause 11 to Section 43A on February 6, 2003 and was later converted into a Public Limited Company in the name and style of "Cords Cable Industries Limited* and a fresh Certificate of Incorporation was obtained on May 10, 2006)
Registered & Corporate Office: B-1 / A-26, Mohan Co-operative Industrial Estate, Mathura Road, New Delhi - 110 044. Tel.: +91-11-41676222, Fax. +91-11-26951196; Website: www.cordscable.com Company Secretary and Compliance Officer. Ms. Jyoti Dixit Gupta Email: ipo@cordscable.com.

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 30,85,000 EQUITY SHARES OF RS. 10/- EACH ISSUED FOR CASH AT A PRICE OF RS. 135/- PER EQUITY SHARE AGGREGATING RS. 4164.75 LACS (THE "ISSUE") OF CORDS CABLE INDUSTRIES LIMITED ("THE COMPANY" OR "THE ISSUER") INCLUDING EMPLOYEE RESERVATION OF 70,000 EQUITY SHARES OF RS. 10/- EACH AT A PRICE OF RS. 135/- EACH FOR CASH AGGREGATING RS. 94.50 LACS AND THE NET ISSUE TO THE PUBLIC OF 30,15,000 EQUITY SHARES OF RS. 10/- EACH AT A PRICE OF RS. 135/- EACH FOR CASH AGGREGATING RS. 4070.25 LACS ("NET ISSUE TO PUBLIC"). THE ISSUE WOULD CONSTITUTE 27.00% OF THE FULLY DILUTED POST ISSUE PAID UP CAPITAL OF THE COMPANY. THE NET ISSUE TO THE PUBLIC WOULD CONSTITUTE 26.38% OF THE FULLY DILUTED POST ISSUE PAID UP CAPITAL OF THE COMPANY.

THE FACE VALUE PER EQUITY SHARE IS RS. 10/-. THE ISSUE PRICE IS RS 135/- PER EQUITY SHARE AND IS 13.5 TIMES THE FACE VALUE.

The Equity Shares of the Company are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).
The Issue was made through the 100% Book Building Process wherein upto 50% of the Net Issue has been allocated on a proportionate basis to Qualified Institutional Buyers (QIBs) (Including 5% of the QiB portion specifically reserved for Mutual Funds). Further, at least 15% of the Net Issue has been allocated on a proportionate basis to Non- Institutional Bidders and at least 35% of the Net Issue has been allocated on a proportionate basis to Retail Individual Bidders, subject to valid bids being received at or above the Issue Price.
The Issue received 10564 applications for 14278550 Equity Shares resulting in 4.6284 times subscription. The details of the applications received in the Issue from Qualified institutional Buyers, Non-Institutional, Retail Individual Investor and Employee categories are as under: (before technical rejection)

Category No. of Applications No. of Shares Subscription
Qualified Institutional Buyers 30 10291900 6.8271
Non-Institutional Investors 65 1435450 3.1740
Retail Individual Investors 10456 2480300 2.3504
Employees 13 70900 1.0129

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

Bid Price No. of Shares % to Total Cumulative Total Cumulative % to Total
125 656650 4.0032 16403300 100.0000
126 15000 0.0914 15746650 95.9968
127 400 0.0024 15731650 95.9054
128 800 0.0049 15731250 95.9030
129 100 0.0006 15730450 95.8981
130 497750 3.0345 15730350 95.8975
131 250 0.0015 15232600 92.8630
132 1300 0.0079 15232350 92.8615
133 4000 0.0244 15231050 92.8536
134 750 0.0046 15227050 92.8292
135 12650750 77.1232 15226300 92.8246
CUT-OFF 2575550 15.7014 2575550 15.7014
TOTAL 16403300 100.0000

The Basis of Allocation for all the categories was finalized In consultation with the Bombay Stock Exchange Limited (BSE), the Designated Stock Exchange on February 5, 2008.
The final demand at different bid prices and allocation of shares in following four categories is as under:

A. Allocation to Employees (after Technical Rejections)
The Basis of Allocation to the Employees, who have bid at cut-off or at the Issue Price of Rs. 135/- per Equity Share was finalized in consultation with BSE. The category was over subscribed 1.0129 times. The total number of Equity Shares allotted in this category is 70000 Equity Shares to 13 successful applicants. The category wise details of the Basis of Allocation (sample) 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
100 1 7.69 100 0.14 99 FIRM 99
200 1 7.69 200 0.28 198 FIRM 198
300 2 15.38 600 0.85 296 FIRM 592
500 1 7.69 500 0.71 494 FIRM 494
1000 1 7.69 1000 1.41 987 FIRM 987
1400 1 7.69 1400 1.97 1382 FIRM 1382
1500 1 7.69 1500 2.12 1481 FIRM 1481
2500 1 7.69 2500 3.53 2468 FIRM 2468
3100 1 7.69 3100 4.37 3061 FIRM 3061
20000 3 23.08 60000 84.63 19746 FIRM 59238

B. Allocation to Retail Individual Investors (after Technical Rejections)
The Basis of Allocation to Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 135/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 2.3019 times. The total number of Equity Shares allotted in this category is 1055252 Equity Shares to 8232 successful applicants. The category-wise details of Basis Of Allocation 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
50 2975 29.17 148750 6.12 50 10:23 64650
100 2167 21.44 218700 9.00 50 20:23 95100
150 788 7.73 118200 4.87 65 FIRM 51220
200 907 8.89 181400 7.47 87 FIRM 78909
250 356 3.49 89000 3.66 109 FIRM 38804
300 277 2.72 83100 3.42 130 FIRM 36010
350 478 4.69 167300 6.89 152 FIRM 72656
400 265 2.60 106000 4.36 174 FIRM 46110
450 38 0.37 17100 0.70 196 FIRM 7448
500 208 2.04 104000 4.28 217 FIRM 45136
550 18 0.18 9900 0.41 238 FIRM 4284
600 47 0.46 28200 1.16 261 FIRM 12267
650 21 0.21 13650 0.56 282 FIRM 5922
700 1634 16.02 1143800 47.09 304 FIRM 496736

C. Allocation to Non-Institutional Investors (after technical rejections)
The Basis of Allocation to Non-lnstitutional Investors, who have bid at the Issue Price of Rs. 135/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 2.9849 times. The total number ol Equity Shares allotted in this category is 452248 Equity Shares to 57 successful applicants. The category-wise details of Basis of Allocation are as under, (sample)

Category No. of
Applns
% to
total
Total no.
of
Shares
Applied
% to
Total
No. of
shares
allocated
Ratio Total no.
of
shares
allocated
750 3 5.26 2250 0-17 251 FIRM 753
10000 6 10.53 60000 4.44 3350 FIRM 20100
15000 1 1.75 15000 1.11 5025 FIRM 5025
18500 2 3.51 37000 2.74 6198 FIRM 12396
20000 2 3.51 40000 2.96 6701 FIRM 13402
22500 1 1.75 22500 1.67 7538 FIRM 7538
37000 1 1.75 37000 2.74 12396 FIRM 12396
70000 1 1.75 70000 5.19 23452 FIRM 23452
74050 2 3.51 148100 10.97 24809 FiRM 49618
74100 1 1.75 74100 5.49 24825 FIRM 24825
74600 1 1.75 74600 5.53 24993 FIRM 24993
100000 1 1.75 100000 7.41 33502 FIRM 33502
148100 1 1.75 148100 10.97 49617 FIRM 49617
350000 1 1.75 350000 25.93 1172561 FIRM 117256

D. Allocation to QIBs
Allocation to QIBs has been done on a proportionate basis in consultation with BSE. As per the SEBI (Disclosure and Investor Protection) Guidelines, 2000, Mutual Funds were initially allotted 5% of the quantum of shares available (75375) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (1432125) on proportionate basis.

Category Fls/Banks MFs Flls VCs ICs Total
No. of shares 100650 495439 911411 - - 1507500

Dates of dispatch of refund orders, credit to beneficiary accounts, refund instructions and listing details

Activity

Date of Completion

Approval of Basis of Allotment by BSE February 5, 2008
Dispatch of allotment advices, refund orders and ECS intimation note February 6, 2008
Refund instructions to the clearing system (in case of refund through ECS system) February 6, 2008
Instruction for credit to beneficiary accounts February 6, 2008
Listing Application to BSE and NSE February 7, 2008

Refunds have been made through ECS, RTGS, NEFT and Direct Credit, into the Bank Accounts of applicants, as registered with the depositories, for applicants residing at any of the 15 centres specified by SEBI.. For other applicants the Refund Orders have been dispatched. In case the same is not received within ten days, applicants may contact the Registrar 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 the 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 the National Stock Exchange of India Limited within seven working days from the date of approval of the Basis of Allotment.

INVESTORS PLEASE NOTE

These details of the allocation made would be hosted on the website of the Registrar to the issue, Intime Spectrum Registry Limited at www.intimespectrum.com.
All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/Sole applicant, serial number of the bld-cum-application form, number of Equity Shares bid for, name of the Member of Syndicate and place where the bid was submitted and payment details at the address given below:

INTIME SPECTRUM REGISTRY LIMITED
C-13, Pannalai Silk Mills Compound, LBS Marg
Bhandup (West), Mumbai- 400 078.
Tel: 91 22 2596 0320 Fax: 91 22 2596 0329
Email:swapann@intimespectrum.com

Place : Delhi
Date : February 7, 2008
For Cords Cable Industries Limited
Sd/-
Jyoti Dixit Gupta
Company Secretary and Compliance Officer

Cords Cable IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Cords Cable IPO?

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

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

    Visit the Cords Cable IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Cords Cable IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Cords Cable 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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