Issue Open | Mar 8, 2007 |
Issue Close | Mar 19, 2007 |
IPO Price | ₹86 |
Face Value | ₹10 |
IPO Size | ₹59.00 Cr |
Listing At | BSE, NSE |
IPO Lot Size | 70 |
GREMACH
INFRASTRUCTURE EQUIPMENTS & PROJECTS LIMITED
(Originally Incorporated as a Private Limited Company at Kolkata, West
Bengal on June 12,1991 as "Gremach Commerce Private Limited" under the
CompaniesAct, 1956, converted into a Public Limited under the name of Gremach Commerce
Limited on January 12, 1996 and subsequently renamed as Gremach Infrastructure Equipments
& Projects Limited effective from August 9, 2005) BASIS OF ALLOTMENT INITIAL PUBLIC OFFERING OF 68,60,466 EQUITY SHARES OF RS. 10/- EACH AT A PRICE OF RS. 86/- FOR CASH AGGREGATING TO RS. 5900 LACS (HEREINAFTER REFERRED TO AS THE ISSUE) INCLUDING RESERVATfONS FOR EMPLOYEES FOR 6,86,046 EQUITY SHARES OF Rs. 10/- EACH AT A PRICE OF RS. 86/- EACH AGGREGATING TO RS. 590 LACS AND THE NET ISSUE TO THE PUBLIC OF 61,74,420 EQUITY SHARES Of Rs. 10/- EACH AT A PRICE OF RS. 86/- EACH AGGREGATING TO RS. 5310 LACS. THE ISSUE WOULD CONSTITUTE 45.08% OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY CAPITAL OF THE COMPANY The issue was made through 100% Book Building Process wherein upto 50% of the Net Issue was available for allocation on a proportionate basis to Qualified Institutional Buyers, out of which 5% was available for allocation on a proportionate basis to Mutual Funds only and the remainder of the QIB portion was available for allocation on proportionate basis to all Qualified institutional Buyers, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, minimum of 15% of the Net Issue was available for allocation on a proportionate basis to Non-institutional Bidders and minimum of 35% of the Net issue was available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received from them at or above the Issue Price. The Issue received 2962 bids/applications for 70,52,850 equity shares resulting in 1.028 times subscription. The details of the bids/applications received in the Issue from Retail Bidders, Non- Institutional Bidders, Qualified Institutional Buyers and Eligible Employees are as under:
Final Demand
The Basis of Allotment was finalized in consultation with the Bombay Stock Exchange Limited (BSE) on Monday, April 2, 2007. A) Allocation to Retail Investors
B) Allocation to Non-Institutional Investors
C) Allocation to QIBs
D) Allocation to Employees The Board of Directors of the Company at its Meeting held in Mumbai on Monday, April
2,2007 has approved the Basis of Allocation and has allotted the equity shares to the
successful bidders/applicants. The CAN-cum-Refund Orders have been dispatched on Tuesday,
April 3, 2007 to the address of the investors as registered with the depositories. In case
the same is not received within 10 (ten) days. Investors may contact at the address given
below. The Refund Orders have been 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 respective beneficiary accounts subject to validation of the account
details with the depositories concerned. Gremach Infrastructure Equipment & Projects
Limited 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
Allocation.
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OFTHE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF GREMACH INFRASTRUCTURE EQUIPMENTS & PROJECTS LIMITED. |
The Gremach IPO basis of allotment (published above) tells you how shares are allocated to you in Gremach IPO and category wise demand of IPO share.
Visit the Gremach IPO allotment status page to check the number of shares allocated to your application.
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