Hi Tech Pipes IPO Details

Issue Open Feb 15, 2016
Issue Close Feb 19, 2016
IPO Price ₹50
Face Value ₹10
IPO Size ₹13.65 Cr
Listing At NSE SME
IPO Lot Size 3000

HI-TECH PIPES LIMITED

CIN: U27202DL1985PLC019750

Our Company was incorporated as Ram Lal Harbans Lal Limited under the provisions of the Companies Act, 1956 vide certificate of incorporation dated January 02, 1985, in Delhi. Subsequently, our Company changed its name to "Hi-Tech Pipes Limited" vide fresh certificate of incorporation dated October 15,1986. The Corporate Identification Number of Our Company is U27202DL1985PLC019750. For details of change in registered office of our Company please refer to chapter titled "Our History and Certain Other Corporate Matters" beginning on page 159 of the Prospectus..

Registered Office: 505, Pearl Omaxe Tower, Netaji Subhash Place, Pitampura, New Delhi-110034
Tel No.: +91 11 48440050; Fax No.:+91 11 48440055; E-mail: into@hitechpipes.in; Website: www.hitechpipes.in
Contact Person: Mr. Rachit Tandon, Company Secretary & Compliance Officer
PROMOTERS OF THE COMPANY: MR. AJAY KUMAR BANSAL AND MR. ANISH BANSAL

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 27,30,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FULLY PAID UP OF HI-TECH PIPES LIMITED ("HTPL" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS 50 PER EQUITY SHARE (THE "ISSUE PRICE") (INCLUDING A SHARE PREMIUM OF RS 40 PER EQUITY SHARE AGGREGATING RS 1365 LAKHS (THE "ISSUE") BY OUR COMPANY, OF WHICH 1,38,000 EQUITY SHARES OF RS 10 FULLY PAID UP EACH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE ("MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION i.e. ISSUE OF 25,92,000 EQUITY SHARES OF RS 10 EACH FULLY PAID UP IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.50% AND 25.16%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY. THIS ISSUE IS BEING IN TERMS OF CHAPTER XB OF THE SEBI (ICDR) REGULATIONS, 2009 (AS AMENDED FROM TIME TO TIME). FOR FURTHER DETAILS PLEASE REFER TO "SECTION VII - ISSUE INFORMATION" BEGINNING ON PAGE 257 OF THE PROSPECTUS.

THE FACE VALUE OF THE EQUITY SHARES IS RS 10 EACH. THE ISSUE PRICE IS RS 50
THE ISSUE PRICE IS 5.00 TIMES THE FACE VALUE.
ISSUED OPENED ON: FEBRUARY 15,2016 ISSUED CLOSED ON: FEBRUARY 19,2016.
PROPOSED LISTING: THURSDAY, FEBRUARY 25,2016

The Equity Shares offered through the Prospectus are proposed to be listed on the NSE Emerge Platform ("NSE"). In terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009, as amended, the Company is not required to obtain an in-principle listing approval for the shares being offered in this Issue. However, the Company has received an in-principle approval letter dated October 21,2015 from NSE for using its name in the offer document for listing of its shares on NSE Emerge Platform. For the purpose of this Issue, the Designated Stock Exchange will be the National Stock Exchange of India Limited. The trading is proposed to be commenced with effect from Thursday, February 25,2016*

*Subject to receipt of listing and trading approvals from the National Stock Exchange of India Limited.

All Applicants participated in the Issue through APPLICATIONS SUPPORTED BY BLOCKED AMOUNT ("ASBA") process by providing the details of their respective bank accounts in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the "SCSBs").

SUBSCRIPTION DETAILS

The Issue has received 915 applications for 6945000 Equity Shares resulting in 2.54 times subscription (including reserved portion of Market Maker). The details of the applications received in the Issue (before technical rejections) are as follows:
Details of the Applications Received (Before Technical Rejection):

Category No. of
Applications
% No. of
Equity Shares
% Subscription
(Times)
Market Makers 1 0.11 138000 1.99 1.00
Other than Retail Individual Investor's 743 81.20 2229000 32.09 1.72
Retail Individual Investor's 171 18.69 4578000 65.92 3.53
TOTAL 915 100.00 6945000 100.00 -

The details of applications rejected by the Registrar on technical grounds are detailed below (Technical rejection):

Category No. of
Applications
No. of
Equity Shares
Market Makers Nil Nil
Other than Retail Individual Investor's 8 24000
Retail Individual Investor's 2 24000
TOTAL 10 48000

After eliminating technically rejected applications, the following tables give us Category wise net valid applications:

Category No. of
Applications
% Issue Size
(as per Prospectus)
No. of Valid
Shares applied
Subscription
(Times)
Market Makers 1 0.11 138000 138000 1.00
Other than Retail Individual Investor's 735 81.22 1296000 2205000 1.70
Retail Individual Investor's 169 18.67 1296000 4554000 3.51
TOTAL 905 100.00 2730000 6897000 -

Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange of India Limited on February 23,2016.

A) Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs 50 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 1,38,000 Equity Shares.

B) Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs 50 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.70 times. The total number of shares allotted in this category is 1296000 Equity Shares to 432 successful applicants. The Category-wise details of the Basis of Allotment are as under:

No. of Shares Applied for (Category Wise) No. of Applications received % to total Total No. of shares applied In each category % to Total Proportionate Shares Available Allocation Per Applicant
(before rounding off)
Allocation Per Applicant
(after rounding off)
Ratio of allottees to applicants:
RATI01
Ratio of allottees to applicants:
RATIO 2
Number of successful applicant (alter rounding off) Total no. of Shares
Allocated/ allotted
No. of Shares Surplus/ Deficit
3000 735 100.00 2205000 100.00 1296000 1763.27 3000.00 57 97 432 1296000 0
Total 735 100.00 2205000 100.00 1296000 1763.27 3000.00 57 97 432 1296000 0

C) Allocation to Other than Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Non Institutional Investors, at the issue price of Rs 50 per Equity Share, was finalized in consultation with NSE. The category was subscribed 3.51 times. The total number of shares allotted in this category is 1296000 Equity Shares to 158 successful applicants. The Category-wise details of the Basis of Allotment are as under:

No. of Shares Applied lor (Category Wise) No. of Applications received % to Total Total No. of shares applied in each category % to Total Proportionate Shares Available Allocation Per Applicant
(before rounding off)
Allocation Per Applicant
(after rounding off)
Ratio of allottees to applicants:
RATI01
Ratio of allottees to applicants:
RATIO 2
Number of successful applicant (after rounding off) Total no. of Shares
Allocated/ allotted
No. of Shares Surplus/ Deficit
6000 42 24.85 252000 5.53 71715 1707.51 3000.00 31 42 31 93000 21285
9000 14 8.29 126000 2.77 35858 2561.26 3000.00 1 1 14 42000 6142
12000 28 16.57 336000 7.38 95621 3415.02 3000.00 1 1 28 84000 -11621
15000 12 7.10 180000 3.95 51225 4268.77 3000.00 1 1 12 36000 -15225
18000 15 8.88 270000 5.93 76838 5122.53 3000.00 1 1 15 45000 -31838
18000 0 0.00 0 0.00 0 3000.00 3000.00 10 15 0 30000 30000
21000 7 4.14 147000 3.23 41834 5976.28 6000.00 1 1 7 42000 166
24000 5 2.96 120000 2.63 34150 6830.04 6000.00 1 1 5 30000 -4150
30000 4 2.37 120000 2.63 34150 8537.55 9000.00 1 1 4 36000 1850
48000 2 1.19 96000 2.11 27320 13660.08 15000.00 1 1 2 30000 2680
51000 5 2.96 255000 5.60 72569 14513.83 15000.00 1 1 5 75000 2431
54000 5 2.96 270000 5.93 76838 15367.59 15000.00 1 1 5 75000 -1838
57000 1 0.59 57000 1.25 16221 16221.34 15000.00 1 1 1 15000 -1221
60000 18 10.65 1080000 23.72 307352 17075.10 15000.00 1 1 18 270000 -37352
60000 0 0.00 0 0.00 0 3000.00 3000.00 0 36000 36000
66000 1 0.59 66000 1.45 18783 18782.61 18000.00 1 1 1 18000 -783
72000 2 1.18 144000 3.16 40980 20490.12 21000.00 1 1 2 42000 1020
84000 1 0.59 84000 1.84 23905 23905.14 24000.00 1 1 1 24000 95
90000 1 0.59 90000 1.98 25613 25612.65 27000.00 1 1 1 27000 1387
96000 1 0.59 96000 2.11 27320 27320.16 27000.00 1 1 1 27000 -320
99000 1 0.59 99000 2.17 28174 28173.91 27000.00 1 1 1 27000 -1174
132000 1 0.59 132000 2.90 37565 37565.22 39000.00 1 1 1 39000 1435
138000 1 0.59 138000 3.03 39273 39272.73 39000.00 1 1 1 39000 -273
198000 2 1.18 396000 8.70 112696 56347.83 57000.00 1 1 2 114000 1304
Total 169 100.00 4554000 100.00 1296000 158 1296000 0

The Board of Directors of the Company at its meeting held on February 22,2016 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. National Stock Exchange of India Limited and has authorized the corporate action for the transfer of the Equity Shares to various successful applicants. The Refund/allotment intimation are being dispatched to the address of the Applicants as registered with the depositories on or before February 24, 2016. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount are being processed on or prior to February 24,2016. In case the same is not received within four working days, investors may contact Registrar at the address given below. The Equity Shares allocated 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 NSE Emerge Platform within six working days from the date of the closure of the Issue.

Note: All capitalized terms used and not defined herein shall have the respective meaning assigned to them in the Prospectus dated February 02,2016 ("Prospectus").

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issue, SHAREPRO SERVICES (INDIA) PRIVATE LIMITED at www.shareproservices.com. All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/Sole applicants, serial number of the Application Form, number of shares applied for and Bank Branch where the application had been lodged and payment details at the address of the Registrar given below:

SHAREPRO SERVICES (INDIA) PRIVATE LIMITED

13 AB Samhita Warehousing Complex, Sakinaka, Telephone Exchange Lane, Off Andheri Kurla Road, Sakinaka, Mumbai - 400072.
Tel: (022) 61915400/420, 67720300/400; Fax: (022) 61915444/ 28508927;
Email: sme.ipo@shareproservices.com;
Website: www.shareproservices.com
Contact Person: Mr. Sunil Kamble/Mr. Prakash Khare
SEBI Regn. Number: INR000001476

Place: New Delhi
Date : February 23,2016
For HI-TECH PIPES LIMITED
On behalf of the Board of Directors
Sd/-
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 THE HI-TECH PIPES LIMITED.

Hi Tech Pipes IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Hi Tech Pipes IPO?

    Check the basis of allotment document above to know about how the shares are allocated in Hi Tech Pipes 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 Hi Tech Pipes IPO basis of allotment status?

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

    Visit the Hi Tech Pipes IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Hi Tech Pipes IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Hi Tech Pipes 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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