GRAVITA INDIA
LIMITED
Incorporated on 04/08/1992 under the Companies Act, 1956 as 'Weldtech
Private Limited' vide Certificate of Incorporation issued by the Registrar of Companies,
Rajasthan, Jaipur. The Company changed its name to Gravita India Private Limited w.e.f
02/08/1996. Subsequent on conversion into Public Limited the name was changed to Gravita
India Limited vide fresh certificate of Incorporation dated 13/08/1996. The Corporate
Identity Number of the Company is U29308RJ1992PLC006870.
Registered Office: 'Saurabh', Chittora Road, Harsulia
Mod, Diggi - Malpura, Tehsil - Phagi, Jaipur - 303 904, Rajasthan, India; Tel.: +91-9928070682:
Fax : + 91-141-2621491
Corporate Office: 402, Rajputana Tower, A-27 B, Shanti Path, Tilak Nagar, Jaipur -
302 004, Rajasthan, India;
Tel: +91-141-2623266; Fax: +91-141-2621491; Website: www.gravitaindia.com
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 36,00,000 EQUITY SHARES OF RS.10/- EACH FOR CASH AT A PRICE OF Rs.
125/- PER EQUITY SHARE (INCLUDING SHARE PREMIUM OF Rs.115/-PER EQUITY SHARE) FOR CASH
AGGREGATING RS. 4500 LACS BY GRVITA INDIA LIMITED (HEREINAFTER REFFERED TO AS THE
'ISSUE'). THE ISSUE WILL CONSTITUTE 26.43% 0F THE POST ISSUE PAID-UP CAPITAL OF
THE COMPANY. UPTO 50,000 EQUITY SHARES WILL BE RESERVED IN THE ISSUE FOR SUBSCRIPTION BY
ELIGIBLE EMPLOYEES (THE 'EMPLOYEE RESERVATION PORTION'). THE ISSUE LESS THE
EMPLOYEE RESERVATION PORTION IS REFERRED TO AS THE 'NET ISSUE'. THE NET ISSUE
WOULD CONSTITUTE 26.06% OF THE POST ISSUE PAID-UP CAPITAL OF THE COMPANY
THE ISSUE PRICE IS RS. 125/- PER EQUITY SHARE. THE FACE VALUE OF EQUITY SHARE IS RS.
10/-.
THE ISSUE PRICE IS 12.5 TIMES OF THE FACE VALUE
This Issue is being made in terms of regulation 26(2)(a)(i) and b(i) of SEBI (ICDR)
Regulations, 2009, as amended from time to time, where by, at least 50% of the Net offer
to public shall be allotted to Qualified Institutional Buyers (QIBs), failing which the
full subscription monies shall be refunded. (In case of delay, if any in refund, Gravita
India Limited shall pay interest on the application money at the rate of 15% per annum for
the period of delay).
The Issue is being made through the 100% Book Building Process wherein at least 50% of
the Net offer to the public shall be allocated on a proportionate basis to eligible
Qualified Institutional Buyers, out of which 5% of the QIB Portion shall be available for
allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB
Portion shall be available for allocation on a proportionate basis to all eligible
Qualified Institutional Buyers, including Mutual Funds, subject to valid Bids being
received at or above Issue Price. Further, not more than 15% of the Issue shall be
available for allocation on a proportionate basis to Non-Institutional Bidders and not
more than 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 Opened for subscription on November 01,2010 and Closed on November
03,2010. The Issue received 78215 applications for 152079450 equity shares resulting in
42.24 times subscription. The details of the applications received in the Issue from
Qualified Institutional Buyers, Non-Institutional Bidders, Retail Individual Bidders and
Employee categories are as under: (Before technical rejections)
Sr. No. |
Category |
No. of Applications
Received |
No. of
Equity Shares |
No. of
times subscribed |
A |
Retail Individual Bidders |
77930 |
45615850 |
36.71 |
B |
Non Institutional Bidders |
176 |
95691200 |
179.70 |
C |
Qualified Institutional Buyers |
19 |
10714700 |
6.04 |
D |
Employees |
90 |
57700 |
1.15 |
|
Total |
78215 |
152079450 |
42.24 |
Final Demand
A summary of the final demand as per BSE and NSE as on the Bid/ Issue Closing Date at
different bids is as detailed hereunder:
Bid
Price |
No. of
Shares |
% to
total |
Cumulative
Total |
Cumulative %
of Total |
120 |
4541600 |
2.782 |
4541600 |
2.782 |
121 |
4800 |
0.003 |
4546400 |
2.785 |
122 |
24100 |
0.015 |
4570500 |
2.800 |
123 |
4386950 |
2.688 |
8957450 |
5.488 |
124 |
10250 |
0.006 |
8967700 |
5.494 |
125 |
112896750 |
69.164 |
121864450 |
74.658 |
Cutoff Price |
41365800 |
25.342 |
163230250 |
100.000 |
The Basis of Allotment was finalized in consultation with the Designated Stock
Exchange, being the Bombay Stock Exchange Limited ('BSE') on November, 12,2010.
A. Allotment to Retail Individual Bidders (Including Applications Supported by
Blocked Amount ('ASBA')) (After Technical Rejections)
The Basis of Allotment to the Retail Individual Bidders, who have bid at cut-off or at the
Issue Price of Rs.125/- per Equity Share, was finalized in consultation with BSE. This
category has been subscribed to the extent of 36.258 times. There were 19145 applications
for 9499250 equity shares made under ASBA process. Of these 18787 applications for 9392600
equity shares were found valid and they were considered for allotment on proportionate
basis. The total number of equity shares allotted in Retail Individual Bidder category is
1242500 Equity Shares which were allotted to 24850 successful applicants. The
category-wise details of the Basis of Allocation are as under:
Category |
No. Of Applications |
% to total |
Total No. of Equity Shares applied |
% of total |
No. of Equity Shares allocated per Applicant |
Ratio |
Total No. of Equity Shares allocated |
50 |
7052 |
9.20 |
352600 |
0.78 |
50 |
1 :36 |
9800 |
100 |
5022 |
6.55 |
502200 |
1.11 |
50 |
1:18 |
13950 |
150 |
1596 |
2.08 |
239400 |
0.53 |
50 |
1:12 |
6650 |
200 |
3389 |
4.42 |
677800 |
1.50 |
50 |
1:9 |
18850 |
250 |
881 |
1.15 |
220250 |
0.49 |
50 |
5:36 |
6100 |
300 |
1062 |
1.39 |
318600 |
0.71 |
50 |
1:6 |
8850 |
350 |
521 |
0.68 |
182350 |
0.40 |
50 |
7:36 |
5050 |
400 |
4941 |
6.45 |
1976400 |
4.39 |
50 |
2:9 |
54900 |
450 |
443 |
0.58 |
199350 |
0.44 |
50 |
1 :4 |
5550 |
500 |
962 |
1.26 |
481000 |
1.07 |
50 |
5:18 |
13350 |
550 |
199 |
0.26 |
109450 |
0.24 |
50 |
11:36 |
3050 |
600 |
538 |
0.70 |
322800 |
0.72 |
50 |
1 :3 |
8950 |
650 |
137 |
0.18 |
89050 |
0.20 |
50 |
13:36 |
2450 |
700 |
295 |
0.39 |
206500 |
0.46 |
50 |
7:18 |
5750 |
750 |
9821 |
12.82 |
7365750 |
16.35 |
50 |
17:41 |
203600 |
800 |
39760 |
51.89 |
31808000 |
70.60 |
50 |
37:84 |
875650 |
B. Allotment to Non Institutional Bidders (After Technical Rejections)
The Basis of Allotment to the Non-Institutional Bidders, who have bid at the Issue Price
of Rs. 125/- per Equity Share, was finalized in consultation with BSE. This category has
been subscribed to the extent of 179.695 times and hence allotment was done on
proportionate basis to all valid applicants. There were 79 applications for 16709400
equity shares made under ASBA process. Of these 77 applications for 16706800 equity shares
were found valid and they were considered for allotment on proportionate basis. The total
number of shares allotted in Non Institutional Bidders category is 532500 Equity Shares
which were allotted to 129 successful applicants. The sample of the category-wise details
of the Basis of Allocation are as under:
Category |
No. Of Applications |
% to total |
Total No. of Equity Shares applied |
% of total |
No. of Equity Shares allocated per Applicant |
Ratio |
Total No. of Equity Shares allocated |
850 |
16 |
9.25 |
13600 |
0.01 |
50 |
1:16 |
50 |
900 |
2 |
1.16 |
1800 |
0.00 |
50 |
1:2 |
50 |
1000 |
10 |
5.78 |
10000 |
0.01 |
50 |
1:10 |
50 |
1100 |
1 |
0.58 |
1100 |
0.00 |
50 |
FIRM |
50 |
1200 |
3 |
1.73 |
3600 |
0.00 |
50 |
1:3 |
50 |
1250 |
1 |
0.58 |
1250 |
0.00 |
50 |
FIRM |
50 |
1500 |
1 |
0.58 |
1500 |
0.00 |
50 |
FIRM |
50 |
1550 |
1 |
0.58 |
1550 |
0.00 |
50 |
FIRM |
50 |
1600 |
13 |
7.51 |
20800 |
0.02 |
50 |
2:13 |
100 |
2000 |
3 |
1.73 |
6000 |
0.01 |
50 |
1 :3 |
50 |
2050 |
1 |
0.58 |
2050 |
0.00 |
50 |
FIRM |
50 |
4000 |
4 |
2.31 |
16000 |
0.02 |
50 |
1 :4 |
50 |
5000 |
1 |
0.58 |
5000 |
0.01 |
50 |
FIRM |
50 |
5600 |
1 |
0.58 |
5600 |
0.01 |
50 |
FIRM |
50 |
8000 |
6 |
3.47 |
48000 |
0.05 |
50 |
5:6 |
250 |
9600 |
1 |
0.58 |
9600 |
0.01 |
53 |
FIRM |
53 |
10000 |
1 |
0.58 |
10000 |
0.01 |
56 |
FIRM |
56 |
72000 |
1 |
0.58 |
72000 |
0.08 |
401 |
FIRM |
401 |
102000 |
1 |
0.58 |
102000 |
0.11 |
568 |
FIRM |
568 |
136000 |
1 |
0.58 |
136000 |
0.14 |
757 |
FIRM |
757 |
180000 |
1 |
0.58 |
180000 |
0.19 |
1002 |
FIRM |
1002 |
350000 |
1 |
0.58 |
350000 |
0.37 |
1948 |
FIRM |
1948 |
1000000 |
1 |
0.58 |
1000000 |
1.05 |
5565 |
FIRM |
5565 |
1688000 |
1 |
0.58 |
1688000 |
1.76 |
9394 |
FIRM |
9394 |
2800000 |
2 |
1.16 |
5600000 |
5.85 |
15582 |
FIRM |
31164 |
3195000 |
3 |
1.73 |
9585000 |
10.02 |
17753 |
FIRM |
53259 |
3200000 |
7 |
4.05 |
22400000 |
23.41 |
17781 |
FIRM |
124467 |
3400000 |
1 |
0.58 |
3400000 |
3.55 |
18892 |
FIRM |
18892 |
3500000 |
1 |
0.58 |
3500000 |
3.66 |
19448 |
FIRM |
19448 |
3600000 |
2 |
1.16 |
7200000 |
7.52 |
20004 |
FIRM |
40008 |
C. Allotment to Employees (Including Applications Supported by Blocked Amount
('ASBA')) (After Technical Rejections)
The Basis of Allotment to the Retail Individual Bidders, who have bid at cut-off or at the
Issue Price of Rs.125/- per Equity Share, was finalized in consultation with BSE. This
category has been subscribed to the extent of 1.007 times. There were 14 applications for
3850 equity shares made under ASBA process. Of these NIL applications for NIL equity
shares were found valid. The total number of shares allotted in Employees category is
50000 Equity Shares which were allotted to 69 successful applicants. The category-wise
details of the Basis of Allocation are as under:
Category |
No. Of
Applications |
% to total |
Total No. Of
Equity Shares
applied |
% of
total |
No. of Equity
Shares allocated
per Applicant |
Ratio |
Total No. of
Equity Shares
allocated |
50 |
1 |
1.45 |
50 |
010 |
50 |
FIRM |
50 |
100 |
5 |
7.25 |
500 |
0.99 |
99 |
FIRM |
495 |
200 |
1 |
1.45 |
200 |
0.40 |
199 |
FIRM |
199 |
800 |
62 |
89.86 |
49600 |
98.51 |
794 |
FIRM |
49228 |
|
|
|
|
|
1 |
4:9 |
28 |
D. Allotment to QIBs
The Basis of Allotment to the Qualified Institutional Buyers, who have bid at the Issue
price of Rs. 125/- per Equity Share was finalized on proportionate basis. Overall 19
applications for 10714700 Equity Shares were found valid and the quantum of shares
allotted to this category is 1775000. Out of these, 7 applications for 4699150 equity
shares were received under ASBA Process. The summary of allotment is as under:
Category |
Fls/Banks |
Flls |
MFs |
ICs |
PFs |
Others |
Total |
No. of Equity Shares allotted |
25391 |
1560685 |
188924 |
- |
- |
- |
1775000 |
The Board of Directors of the Company at its Meeting held at Jaipur, Rajasthan on 13th
November, 2010 has approved the basis of allotment of Equity Shares of the Issue and has
accordingly allotted the Equity Shares to the Bidders.
The CAN-cum-Ref und Orders and allotment advice and/ or notices are being dispatched to
the address of the Bidders, as registered with the depositories on or prior to November
15,2010. Further, the instructions to Self Certified Syndicate Banks have been
dispatched/mailed. In case the same is not received within 10 days, investors may contact
at the address given below. The Refund Orders have been over-printed with the Bank Account
details as registered, if any, with the depositories. The Equity Shares allotted 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 BSE and NSE on November 16,2010.
INVESTORS PLEASE NOTE
These details of the allotment made would be hosted on the website of Registrar to the
Issue, Karvy Computershare Private Limited at http://karisma.karvy.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
Bid-cum-Application Form, number of Equity Shares bid for, name of the Member of the
Syndicate, place where the bid was submitted and payment details at the address given
below:
Karvy Computershare Private Limited
Unit: Gravita India Limited
Plot No. 17 to 24, Vithalrao Nagar, Hitech City Road, Madhapur, Hyderabad - 500081
Fax: 040-23420814; Email: einward.ris@Karvy.com
TOLL FREE - HELPLINE NUMBER : 1 -800-3454001
Place : Mumbai
Date : November 13,2010 |
For Gravita India Limited
Sd/-
Priyanka Khandelwal
Company Secretary |
THE LEVEL OF SUBSCRIPTION SHOULD NOT BETAKEN TO BE INDICATIVE OF EITHER THE MARKET
PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF GRAVITA INDIA LIMITED.
Note: All capitalized terms used and not defined herein shall have the respective meanings
assigned to them in the Prospectus. |