Euro Ceramics IPO Details

Issue Open Feb 7, 2007
Issue Close Feb 13, 2007
IPO Price ₹165
Face Value ₹10
IPO Size ₹92.75 Cr
Listing At BSE, NSE
IPO Lot Size 35

EURO CERAMICS LIMITED
(Our Company was Incorporated as a private limited company under the name "Euro Ceramics Private Limited"
subsequently our company was converted into public limited company and our company name was changed to "Euro Ceramics Limited" with effect from November 16,2004).
Regd Office: Boston House, Ground Floor, Suren Road Chakala, Andheri (W) Mumbai - 400 093, India.
Tel-:+91 -22- 4019 4019; Fax:-+91 -22-4019 4020;
Website: www.eurovitrified.com.Email: euroipo@eurovitrified.com

PUBLIC ISSUE OF 56,21,500 EQUFTY SHARES OF RS.10/-EACH FOR CASH ATAPRICE OFRS.165/- PER EQUITY SHARE AGGREGATING RS. 927.56 MILLIONS (REFERRED TO AS THE ISSUE"). THE ISSUE CONSISTS OF RESERVATION OF RESERVATION OF 1,21,500 EQUITY SHARES OF RS 10/- EACH AT ISSUE PRICE OF RS 165/- PER EQUITY SHARE AGGREGATING RS 20.05 MILLIONS FOR ELIGIBLE EMPLOYEE AND NET ISSUE TO PUBLIC OF 55,00,000 EQUITY SHARES OF FACE VALUE OF RS.10/- EACH AT A PRICE OF RS. 165/- AT A PREMIUM AGGREEGATING RS 907.50 MILLIONS (HEREIN AFTER REFERRED TO AS THE "NET ISSUE TO THE PUBLIC") THE ISSUE WILL CONSTITUTE 32.87% OF THE FULLY DILUTED POST ISSUE CAPITAL OF THE COMPANY. THE FACE VALUE PER EQUITY SHARE IS RS.10/- EACH FOR CASH AT A PRICE OF RS.165/- EACH AND THE ISSUE PRICE IS 16.5 TIMES OF THE FACE VALUE.

The Issue made through the 100% Book Building Process wherein not more than 50% of the Issue to the public was to be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs") (including 5% of the QIB portion that was to specifically be allotted to mutual funds)., Further, not less than 15% of the Net Issue to the public shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue to the public shall be available for allocation on a proportionate basis to Retail Bidders, subject to valid bids being received at or above the Issue Price.

The Issue received 23602 applications for 16100105 equity shares resulting in 2.86 times subscription.

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

Bid Price
(Rs / Shares)
No.of Shares % to Total Cumulative Total Cumulative
% to total
150 317345 1.7913 17716020 100.00
151 315 0.0018 17398675 98.21
152 6160 0.0348 17398360 98.21
153 210 0.0012 17392200 98.17
155 735 0.0041 17391990 98.17
157 315 0.0018 17391255 98.17
158 63840 0.3604 17390940 98.17
159 595 0.0034 17327100 97.80
160 147735 0.8339 17326505 97.80
161 35 0.0002 17178770 96.97
162 665 0.0038 17178735 96.97
163 105 0.0006 17178070 96.96
164 455 0.0026 17177965 96.96
165 162505 0.9173 17177510 96.96
166 315 0.0018 17015005 96.04
167 35 0.0002 17014690 96.04
168 10850 0.0612 17014655 96.04
170 273455 1.5435 17003805 95.98
171 770 0.0043 16730350 94.44
172 70 0.0004 16729580 94.43
173 35 0.0002 16729510 94.43
174 35 0.0002 16729475 94.43
175 1785 0.0101 16729440 94.43
178 1680 0.0095 16727655 94.42
179 140 0.0008 16725975 94.41
180 11921840 67.2941 16725835 94.41
9999 4803995 27.1167 4803995 27.12
TOTAL 17716020

The Basis of Allotment for all the categories namely Employees, Retail Individual Investors, Non Institutional Investors and Qualified Institutional Buyers was approved by Bombay Stock Exchange Limited (Designated Stock Exchange) on February 26, 2007. The Board of Directors of the Company at its Meeting held at Mumbai on February 27, 2007 allotted the Equity Shares to the successful applicants. Details of valid applications received and allotments done are as under:

Category No. of Applications No. of Shares Subscription
Qualified Institutional Buyers 26 10697295 3.8899
Non Institutional Investors 141 692685 0.8396
Retail Investors 23373 4618740 2.3993
Employee 62 91385 0.7521
TOTAL 23602 16100105

A. Allotment to Retail Investors
The Basis of Allotment to the Retail Investors, who have bid at cut-off or at and above the Issue Price of Rs.165/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 2.1616 times. The total number of shares allotted in this category is 2108815 Equity Shares (Including 30640 Shares spill over from Employee Category and 153175 shares spill over from HNI Category). The category-wise details of the Basis of Allotment 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
35 5610 24.36 196350 4.31 35 12:25 94255
70 3461 15.03 2422Z0 5.31 35 97:100 117495
105 & Onwards 2301 9.99 241605 5.30 48 FIRM Proportionate

B. Allotment to Non Institutional Investors
The Basis of Allotment to the Non-institutional, who have bid at and above the Issue Price of Rs.165/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 0.8143 times. The total number of shares allotted in this category is 671825 Equity Shares (Un-Subscribed portion of 153175 shares was added to Retail Category). All the applicants in this category have been given firm allotment.

C. Allotment to Employees
The Basis of Allotment to the Employee, who have bid at and above the Issue Price of Rs.165/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 0.7478 times. The total number of shares allotted in this category is 90860 Equity Shares. The Un-subscribed Portion of 30640 Shares was added to the Retail Category. All the applicants in this category have been given firm allotment.

D. Allocation to QIBs
The total number of Equity Shares allotted in this category are 27,50,000 Equity Shares. All the applicants in this category have been given Firm Allotment on a PROPORTIONATE BASIS.

Category Fls/Banks MFs Flls NBs Total
No.of Shares 137688 423833 1821989 366490 2750000
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 BSE February 26, 2007
Despatch of Allotment Advices .Refund Orders and ECS Intimation Note February 27, 2007
Refund Instructions to the Clearing System(in case of Refunds through ECS system) February 27, 2007
Listing Application to BSE & NSE February 28, 2007
Credit to beneficiary Accounts February 28, 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
This details of the allotment 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 (West),
Mumbai- 400078, Fax: +91-22-25960329
Tel. No.: (91 22) 2596 0320 - 28
Email: euroip@intimespectrum.com  and www.intimespectrum.com

Place : Mumbai
Date : February 27, 2007

For Euro Ceramics Limited
Sd/-
Mr. Sushil Chudiwala
C.E.O.

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 EURO CERAMICS LIMITED

Euro Ceramics IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Euro Ceramics IPO?

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

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

    Visit the Euro Ceramics IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Euro Ceramics IPO allotment process?

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

Comments

   I Like It. | Report Abuse








Search Chittorgarh.com:

Download Our Mobile App

Android App iOS App