Insecticides IPO Details

Issue Open May 7, 2007
Issue Close May 11, 2007
IPO Price ₹115
Face Value ₹10
IPO Size ₹36.92 Cr
Listing At BSE, NSE
IPO Lot Size 60

INSECTICIDES (INDIA) LIMITED

Originally incorporated as 'Insecticides (India) Private Limited' on 18th December 1996, with registered office at 208, Anupam Bhawan, Azadpur Commercial Complex, Delhl -110033, our Company was converted into a Public Limited Company on 02nd November 2001. The Registered office was shifted from, Anupam Bhawan, Azadpur Commercial Complex, Delhi-110033 to its current address 401-402, Lusa Tower, Azadpur Commercial Complex, Azadpur, Deihi-110033 with effect from 24th October 2001.

Registered/Corporate Office: 401-402, Lusa Tower, Azadpur Commercial Complex, Azadpur, Delhi -110033.
Tel No: (011) 27679700-04; Fax No: (011) 27671617
Website: www.insecticidesindia.com; Email: ipo@insecticidesindia.com
Contact Person: Mr. Pankaj Gupta, Company Secretary & Compliance Officer

PUBLIC ISSUE OF 32,10,000 EQUITY SHARES OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 115 PER EQUITY SHARE, INCLUDING SHARE PREMIUM OF RS. 105 PER EQUITY SHARE AGGREGATING
RS. 3691.5 LACS BY INSECTICIDES (INDIA) LIMITED ('THE COMPANY' OR 'THE ISSUER'). THE ISSUE COMPRISES OF RESERVATION OF 32,100 EQUITY SHARES AGGREGATING RS. 36.915 LACS FOR PERMANENT EMPLOYEES (EMPLOYEES RESERVATION PORTION) ON A COMPETITIVE BASIS AND THE 'NET ISSUE TO THE PUBLIC' OF 31,77,900 EQUITY SHARES AGGREGATING RS. 3654.585 LACS. THE NET ISSUE TO THE PUBLIC WOULD CONSTITUTE 25.06% OF THE FULLY DILUTED POST ISSUE PAID UP CAPITAL OF THE COMPANY.

ISSUE PRICE: RS. 115 PER EQUITY SHARE OF FACE VALUE OF RS. 10 EACH
THE ISSUE PRICE IS 11.5 TIMES THE FACE VALUE.

The Issue was made through the 100% book building process wherein up to 50% of the Net Issue shall be available for allocation on a proportionate basis to Qualified Institutional Buyers, out of which 5% 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 proportionate basis to all Qualified Institutional Buyers, including mutual funds, subject to valid bids being received at or above the issue price. Further, not less than 15% of the Net Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue shall be 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 11086 applications for 4101190 equity shares resulting in 1.2776 times subscription. The details of the applications received in the Issue from Retail Individual Bidders, Non Institutional Investors, Qualified Institutional Buyers and Employees categories is as under (before technical & multiple rejections):

Category No. of Applications No. of Equity Shares Bid * No. of Times Subscribed#
Retail Individual Bidders 11032 3539030 3.18
Non Institutionals Bidders 13 37500 0.08
Qualified Institutionals Buyers 5 506520 0.32
Employees 36 18000 0.56
Total 11086 4101050 1.2776

* Including bids received at cut off price # After eliminating cheque returns

A) Allocation to Retail Individual Bidders
The basis of allocation to the Retail Individual Bidders, who have bid at cut-off or at the Issue Price of Rs. 115 per Equity Share, was finalized in consultation with BSE. The category was subscribed 1.2997 times after the technical rejections. The total number of Equity Shares allotted in this category is 2652326 Equity Shares which includes original reservation of 1112265 Equity Shares for Retail Individual Bidders category, spill over of 14100 Equity Shares from Employee category, spill over of 443265 equity shares from Non Institutional Bidders category and spill over of 1082430 Equity Shares from QIB Category. The sample of the category-wise details of the Basis of Allocation is as under:

Category No
of
Applns.
% to
Total
Total No. of
Equity Shares
Applied
% to
Total
No. of
Equity Shares
Allocated
Ratio Total No. of
Equity Share
Allocated
60 2,814 26.35 168,840 4.90 60 31:40 130,860
120 1,630 15.27 195,600 5.67 92 1:1 149,960
180 939 8.79 169,020 4.90 139 1:1 130,521
240 612 5.73 146,880 4.26 185 1:1 113,220
300 487 4.56 146,100 4.24 231 1:1 112,497
360 269 2.52 96,840 2.81 277 1:1 74,513
420 1,671 15.65 701,820 20.36 323 1:1 539,733
480 97 0.91 46,560 1.35 369 1:1 35,793
540 45 0.42 24,300 0.70 415 1:1 18,675
600 71 0.66 42,600 1.24 462 1:1 32,802
660 20 0.19 13,200 0.38 508 1:1 10,160
720 20 0.19 14,400 0.42 554 1:1 11,080
780 31 0.29 24,180 0.70 600 1:1 18,600
840 1,972 18.47 1,656,480 48.06 646 1:1 1,273,912

B) Allocation to Non Institutional Bidders
The Basis of Allocation to the Non Institutional Investors, who have bid for at the Issue Price of Rs. 115 per Equity Share, was finalized in consultation with BSE. The category was subscribed 0.070 times after the technical rejections. The total number of Equity Shares allotted in this category is 33420 Equity Shares. The unsubscribed portion of 443265 Equity Shares was added to the Retail Individual Bidders category. A sample of category-wise details of the Basis of Allocation is as under:

Category No of
Applns.
% to
Total
Total No. of Equity Shares Applied % to Total No. of Equity Shares Allocated Ratio Total No. of Equity Shares Allocated
900 1 12.50 900 2.69 900 1:1 900
1,500 1 12.50 1,500 4.49 1,500 1:1 1,500
2,100 1 12.50 2,100 6.28 2,100 1:1 2,100
2,640 1 12.50 2,640 7.90 2,640 1:1 2,640
4,320 1 12.50 4,320 12.93 4,320 1:1 4,320
5,040 1 12.50 5,040 15.08 5,040 1:1 5,040
8,220 1 12.50 8,220 24.60 8,220 1:1 8,220
8,700 1 12.50 8,700 26.03 8,700 1:1 8,700

C) Allocation to Qualified Institutional Bidders
Allocation to QIBs has been made on a proportionate basis in consultation with BSE. As per the SEBI Guidelines, Mutual Funds were initially allotted 5% of the QIB portion (79448 Equity Shares) and the remaining QIB portion (427072Equity Shares) was allocated to Net Issue.

Category Fls/Banks MFs Flls Insurance Companies VCs Total
No. of Equity Shares 86940 376140 - - 43440 506520

D) Allocation to Employees
The Basis of Allocation to the Employees category, who have bid at cut-off or at the Issue Price of Rs. 115 per Equity Share, was finalized in consultation with BSE. The category was subscribed 0.560 times. Hence, FULL and FIRM allotments have been made against all valid applications. The total number of Equity Shares allotted in this category is 18000 Equlty Shares. The unsubscribed portion of 14100 Equity Shares was added to the Retail Individual Bidders category.

The Board of Directors of Insecticides India Limited at its meeting held at New Delhi, 24.05.2007 has approved the basis of allocation of Equity Shares and allotted the Equity Shares to various successful applicants. Bidders should note that on the basis of name of the Bidders, DP ID and Client ID provided by them in the Bid cum Application Form, Registrar to the Issue has obtained from the Demographic Details of the Bidders details such as address, bank account details alongwith the nine digit MICR Code and occupation (herein after referred to as 'Demographic Details') from the Depositories. These Demographic Details have been used for all correspondence with the Bidders including mailing of the refund orders/CANs/Allocation Advice/Refund Advice, printing of bank particulars on the refund order and for refunds through ECS/Direct Credit/RTGS. The Demographic Details given by the Bidders in the Bid-cum-application form would not be used for these purposes by the Registrar. Investors should also note that the bank particulars received from the Depositories have been used for refund through ECS/Direct Credlt/RTGS and overprinted on the refund orders. Applicants having a bank account in any of the 15 centres where clearing houses are managed by the Reserve Bank of India (RBI) viz. Ahmedabad, Bangalore, Bhubaneshwar, Chandigarh, Chennai, Guwahatj, Hyderabad, Jaipur, Kanpur, Kolkata, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram, will get refunds through mandatory Electronic Clearance Scheme (ECS) only, except where applicant is otherwise disclosed as eligible to get refunds through direct credit or Real Time Gross Settlement (RTGS). Applicants having a bank account at any of the 15 centers detailed above, and whose bid amount exceeds Rs. 1 million, were eligible to exercise the option to receive refunds, if any, through RTGS If the IFSC code was mentioned in the Bid-cum-application form.

The despatch of Refund Orders has been completed by 25.05.2007 to the address of the investors as registered with the depositories. In case the same is not received within 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 allocated to the successful applicants have been credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has submitted the listing application on 25.05.2007. 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 and within seven working days from the date of approval of the basis of allocation.

INVESTORS PLEASE NOTE
The details of the allocation made have been hosted on the website of Registrar to the Issue viz., Alankit Assignments Limited at www.alankit.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 and place where the bid was submitted and payment details at the address given below:

Alankit Assignments Limited
Alankit House }
2E/21 Jhandewalan Extension
New Delhi -110055
Tel: (011) 42541234 / 23541234 Fax: (011) 42541967
Website: www.alankit.com Email: insecticidesipo@alankit.com



Place: New Delhi
Date: 24.05.2007

For Insecticides (India) 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 INSECTICIDES (INDIA) IMITED.

Insecticides IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Insecticides IPO?

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

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

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

  3. 3. What is Insecticides IPO allotment process?

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