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J. Kumar Infraprojects IPO Basis of Allotment

J. Kumar Infraprojects IPO Details

Issue Open Jan 18, 2008
Issue Close Jan 23, 2008
IPO Price ₹110
Face Value ₹10
IPO Size ₹71.50 Cr
Listing At BSE, NSE
IPO Lot Size 55

J. KUMAR INFRAPROJECTS LIMITED

(Our Company was originally as 'J.Kumar & Company (India) Private Limited on December 2,1999 under the Companies Act, 1956. The name of our company was subsequently changed to J.Kumar Infraprojects Private Limited on January 8, 2007. Our Company was converted into a public Limited Company and its name was changed to J.Kumar Infraprojects Limited on January)
Registered Office: 16-A, Andheri Industrial Estate, Veera Desai Road, Andheri (West), Mumbai 400 058 www.jkumar.com

BASIS OF ALLOCATION

PUBLIC ISSUE OF 65,00,000 EQUITY SHARES OF RS. 10 EACH FOR CASH AT A PRICE OF RS 110 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS. 100 PER EQUITY SHARE, AGGREGATING RS. 7,150,00 LACS (THE 'ISSUE') BY J. KUMAR INFRAPROJECTS LIMITED (THE 'COMPANY OR THE ISSUER'). THE ISSUE COMPRISED A NET ISSUE TO THE PUBLIC OF 63,00,000 SHARES OF RS. 110 EACH (THE 'NET ISSUE') AND A RESERVATION OF UP TO 200,000 EQUITY SHARES OF RS. 110 EACH FOR ELIGIBLE EMPLOYEES (THE 'EMPLOYEE RESERVATION PORTION'). THE NET ISSUE WILL CONSTITUTE 30.40% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF OUR COMPANY. THE ISSUE WOULD CONSTITUTE 31.36% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPsANY.

THE FACE VALUE PER EQUITY SHARE IS RS.10/-. THE ISSUE PRICE PER EQUITY SHARE IS RS. 110/- AND IT IS 11 TIMES THE FACE VALUE.

The Issue made through the 100% Book Building Process wherein at least 50% of the net Issue 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, up to 15% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and up to 35% of the Issue shall be available for allocation on a proportionate basis to Retail Bidders, subject to valid bids being received at or above the Issue Price. Further upto 200000 Equity Shares shall be available for allocation on a proportionate basis to eligible employees, subject to valid bids being received at or above the issue price.
The Issue received 12,238 applications for 1,30,96,660 equity shares resulting in 2.01 times subscription. The details of the applications received in the issue from Qualified Institutional Buyers, Non-Institutional, Retail Individual Investor and Employee categories are as under: (Before technical rejections)

Category No. of Applications No. of Shares Subscription
Qualified Institutional Buyers 11 8833990 2.80
Non institutional Investors 40 848980 0.90
Retail Individual Investors 12134 3210190 1.46
Employees 53 203500 1.01

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

Bid Price No.of Shares % to Total Cumulative Total Cumulative % to total
110 2287175 16.21 14111240 100.00
111 440 0.00 11824065 83.79
112 165 0.00 11823625 83.79
113 55 0.00 11823460 83.79
114 55 0.00 11823405 83.79
115 16610 0.12 11823350 83.79
116 55 0.00 11806740 83.67
117 0 0.00 11806685 83.67
118 495 0.00 11806685 83.67
119 605 0.00 11806190 83.67
Rs.120 & Cut Off Price 11805585 83.66 11805585 83.66

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited ('BSE') on 5th February, 2008.

A. Allocation to Employees (After Technical Rejections)
The Basis of Allocation to the Employees, who have bid at cut-off or at the Issue Price of Rs.110/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 1.017500 times. The total number of shares allotted in this category is 2,00,000 Equity Shares to 53 successful applicants. The category-wise details of the Basis of Allocation (Sample) 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
55 4 7.55 220 0.11 55 FIRM 220
110 3 5.66 330 0.16 108 FIRM 324
220 5 9.43 1100 0.54 216 FIRM 1080
330 2 3.77 660 0.32 325 FIRM 650
440 1 1.89 440 0.22 432 FIRM 432
715 1 1.89 715 0.35 703 FIRM 703
4015 4 7.55 16060 7.89 3946 FIRM 15784
5115 2 3.77 10230 5.03 5027 FIRM 10054
8690 1 1.89 8690 4.27 8541 FIRM 8541
10065 1 1.89 10065 4.95 9892 FIRM 9892
12760 1 1.89 12760 6.27 12541 FIRM 12541
13640 1 1.89 13640 6.70 13405 FIRM 13405
14025 1 1.89 14025 6.89 13784 FIRM 13784
14740 1 1.89 14740 7.24 14486 FIRM 14486
18315 1 1.89 18315 9.00 17997 FIRM 17997

B. Allocation to Retail Individual Investors (After Technical Rejections)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs.110/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 1.354675 times. The spill over portion to the extent of 99870 equity shares has been added to this category. The total number of shares allotted in this category is 2304870 Equity Shares to 10954 successful applicants. The category-wise details of the Basis of Allocation 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
55 3832 32.07 210760 6.75 55 37:50 155980
110 2578 21.57 283580 9.08 81 FIRM 208818
165 881 7.37 145365 4.66 122 FIRM 107482
ADDITIONAL 1 7:18 346
220 1073 8.9S 236060 7.56 162 FIRM 173826
275 366 3.06 100650 3.22 203 FIRM 74298
330 253 2.12 83490 2.67 244 FIRM 61732
365 425 3.56 163625 5.24 284 FIRM 120700
440 245 2.05 107800 3.45 325 FIRM 79625
495 71 0.59 35145 1.13 365 FIRM 25915
550 232 1.94 127600 4.09 406 FIRM 94192
605 34 0.28 20570 0.66 447 FIRM 15198
660 32 0.27 21120 0.68 487 FIRM 15584
715 15 0.13 10725 0.34 528 FIRM 7920
770 49 0.41 37730 1.21 568 FIRM 27832
825 1858 15.55 1532850 49.09 609 FIRM 1131522
880 6 0.05 5280 0.17 650 FIRM 3900

C. Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs.110/- per Equity Share, was finalized in consultation with BSE. The category was under- subscribed 0.894317 times. As per the Red Herring Prospectus, the spill over portion to the extent of 99870 equity shares has been added to the Retail Individual Investors category. The total number of shares allotted in this category is 845130 Equity Shares to 38 successful applicants. The category-wise details of the Basis of Allocation (sample) 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
880 1 2.63 880 0.10 880 FIRM 880
990 2 526 1980 0.23 990 FIRM 1980
2200 1 2.63 2200 0.26 2200 FIRM 2200
4510 1 2.63 4510 0.53 4510 FIRM 4510
6710 1 2.63 6710 0.79 6710 FIRM 6710
8250 4 10.53 33000 3.90 8250 FIRM 33000
12540 1 2.63 12540 1.48 12540 FIRM 12540
16500 1 2.63 16500 1.95 16500 FIRM 16500
20790 1 2.63 20790 2.46 20790 FIRM 20790
24970 4 10.53 99880 11.82 24970 FIRM 99880
27500 1 2.63 27500 3.25 27500 FIRM 27500
29150 1 2.63 29150 3.45 29150 FIRM 29150
41635 1 2.63 41635 4.93 41635 FIRM 41635
41690 1 2.63 41690 4.93 41690 FIRM 41690
54120 1 2.63 54120 6.40 54120 FIRM 54120
166650 1 2.63 166650 19.72 166650 FIRM 166650
252450 1 2.63 252450 29.87 252450 FIRM 252450

D. Allocation to QIBs
Allocation to QIBs has been done on a proportionate basis in consultation with NSE. As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available (1,57,500) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (29,92,500) on proportionate basis.

Category Fls/Banks MFs VCs Total
No.of Shares 62694 2729923 357383 3150000

The Board of Directors of the company at its Meeting held at Mumbai on February 06, 2008 has approved the basis of allocation of shares of the Issue and has allotted the shares to various successful applicants.
The CAN-cum-Refund Orders and allotment advice and notices have been dispatched 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 over-printed with the Bank Mandate details as registered, if any, with the depositories. The 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 the National Stock Exchange of India Limited and Bombay Stock Exchange Limited within seven working days from the date of approval of the basis of allocation.

INVESTORS PLEASE NOTE
This details of the allocation made would be hosted on the website of Registrars to the Issue, Karvy Computsrshare Private Limited at http://kcpl.karvy.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:

Karvy Computershare Private Limited:
Unit: J. Kumar Infraprojects Plot No. 17 to 24, Vltharao Nagar, Hitech City Road, Madhapur
Hyderabad - 500081, Fax: 040-23420814 Email: einward.ris@Karvy.com

Place: Mumbai
Date : February, 2008
For J. Kumar Infraprojects Limited
Sd/-
Poornima Reddy
Company Secretary and Compliance Officer

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ONLISTING OR THE BUSINESS PROSPECTS OF J.KUMAR INFRAPROJECTS LIMITED

J. Kumar Infraprojects IPO Basis of Allotment FAQs

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

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

Visit the J. Kumar Infraprojects IPO allotment status page to check the number of shares allocated to your application.

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