Jyothi Laboratories IPO Basis of Allotment

Jyothi Laboratories IPO Details

Issue Open Nov 22, 2007
Issue Close Nov 27, 2007
IPO Price ₹690
Face Value ₹5
IPO Size ₹305.69 Cr
Listing At BSE, NSE
IPO Lot Size 10

JYOTHY LABORATORIES LIMITED

We were incorporated as Jyothi Laboratories Private Limited on January 15,1992. We became a public limited company and our name was changed to Jyothi Laboratories Limited on October 6,1995. We further changed our name to Jyothy Laboratories Limited on August 12,1996.
Registered and Corporate Office: 43, Shivshakti  Industrial Estate, Andheri - Kurla Road, Marol, Mumbai 400 059
Tel: +91-22-2850 2470 Fax: +91-22-2850 1734.
E-mail: ipo@jyothy.com Company Secretary and Compliance Officer Mr. M. L. Bansal
Website: www.jyothylaboratories.com

BASIS OF ALLOCATION

PUBLIC OFFER OF 4,430,260 EQUITY SHARES OF FACE VALUE OF RS.5 EACH FOR CASH AT A PRICE OF RS.690 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 685 PER EQUITY SHARE) AGGREGATING TO RS. 3,056.88 MILLION (THE OFFER") BY JYOTHY LABORATORIES LIMITED ("COMPANY"). THE OFFER CONSTITUTES 30.52% OF THE FULLY DILUTED POST OFFER PAID UP CAPITAL OF OUR COMPANY.

OFFER PRICE: Rs. 690 PER EQUITY SHARE OF FACE VALUE RS.5/-.THE OFFER PRICE IS 138 TIMES OF THE FACE VALUE.

The Offer is being made through the 100% Book Building Process wherein up to 50% of the Offer shall be allocated on a proportionate basis to QIB Bidders, out of which 5% of the QIB Portion shall be available for allocation on a proportionate basis to the Mutual Funds only. The remainder shall be available for allocation on a proportionate basis to all QIB and Mutual Funds, subject to valid Bids being received from them at or above the offer price. Further, at least 15% of the Offer will be available for allocation on a proportionate basis to Non-Institutional Bidders and at least 35% of the Offer will be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Offer price.

The Offer received 214,827 applications for 201,188,750 equity shares resulting in 45.41 times subscription. The details of the applications received in the Offer from Qualified Institutional Bidders, Non-Institutional and Retail Investor categories are as under: (Before technical rejections)

Category No. of Applications No. of Shares Subscription
Qualified Institutional Bidders 225 146495140 66.1339
Non Institutional Investors 737 32823530 49.3929
Retail Investors 213865 21870080 14.1044
214827 201188750

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
620 3482880 1.6758 207838210 100.0000
621 260 0.0001 204355330 98.3242
622 40 0.0000 204355070 98.3241
623 10 0.0000 204355030 98.3241
624 1120 0.0005 204355020 98.3241
625 10840 0.0052 204353900 98.3235
627 10 0.0000 204343060 98.3183
628 10 0.0000 204343050 98.3183
630 1610 0.0008 204343040 98.3183
631 50 0.0000 204341430 98.3175
635 470 0.0002 204341380 98.3175
636 30 0.0000 204340910 98.3173
639 130 0.0001 204340680 98.3173
640 1650 0.0008 204340750 98.3172
644 1500 0.0007 204339100 98.3164
645 60 0.0000 204337600 98.3157
647 10 0.0000 204337540 98.3157
650 319850 0,1539 204337530 98.3157
651 30 0.0000 204017680 98.1618
655 1590350 0.7652 204017650 98.1618
659 130 0.0001 202427300 97.3966
660 12490 0.0060 202427170 97.3965
661 300 0.0001 202414680 97.3905
665 810 0.0004 202414380 97.3904
666 10110 0.0049 202413570 97.3900
667 40 0.0000 202403460 97.3851
670 9930 0.0048 202403420 97.3851
672 40 0.0000 202393490 97.3803
675 2240 0.0011 202393450 97.3803
680 1530 0.0007 202391210 97.3792
685 1820 0.0009 202389680 97.3785
688 110 0.0001 202387860 97.3776
689 230 0.0001 202387750 97.3775
690 180547470 86.8692 202387520 97.3774
9999 21840050 10.5082 21840050 10.5082
TOTAL 207838210

The Basis of Allocation for all the categories namely Retail Individual Investors, Non Institutional Investors and Qualified Institutional Buyers was finalised in consultation with National Stock Exchange of India Limited (Designated Stock Exchange) on 10 December, 2007.

A. Allotment to Retail Investors (After Technical Rejections)
All the bidders in the Retail Investors, who have bid at cut-off or at the Offer Price of Rs. 690/- per Equity Share, have been considered while preparing the basis of allocation. The category was over subscribed 13.969379 times. The total number of shares allotted in mis category is 1550590 Equity Shares. The category-wise details of the Basis of allocation are as under

Category (No. of Shares) No. of Applns. % to total Total No. of Shares applied % to total No. of Shares allocated Ratio Total No. of Shares allocated
10 16423 7.77 164230 0.76 10 1:13 12590
20 11640 5.5 232800 1.07 10 2:13 17850
30 9094 4.3 272820 1.26 10 3:14 19490
40 5783 2.73 231320 1 1.07 10 2:7 16520
50 7908 3.74 395400 1.83 10 5:14 26240
60 3902 1.85 234120 1.08 10 3:7 16720
70 15848 7.5 1109360 5.12 10 1:2 79240
80 3825 1.81 306000 1.41 10 4:7 21860
90 1448 0.68 130320 0.6 10 9:14 9310
100 7182 3.4 718200 3.32 10 5:7 51300
110 1418 0.67 155980 0.72 10 11:14 11140
120 1463 0.69 175560 0.81 10 6:7 12540
130 3687 1.74 479310 2.21 10 27:28 35550
140 121824 57.61 17055360 78.74 10 FIRM 1218240

B, Allotment to Non Institutional Investors (After Technical Refections)
All the bidders in the Non-Institutional Investors, who have bid at the Offer Price of Rs. 690/- per Equity Share, have been considered while preparing the basts of allocation. The category was over subscribed 49.291209 times.fhe total number of shares allocated in this category is 664540 Equity Shares. The category-wise details of the Basis of allocation are as under (Sample)

Category (No. of Shares) No. of Applns. % to total Total No. of Shares applied % to total No. of Shares allocated Ratio Total No. of Shares allocated
150 103 16.61 15450 0.05 10 3:10 310
160 6 0.97 960 0 10 1:3 20
1000 5 0.81 5000 0.02 20 FIRM 100
1010 1 0.16 1010 0 20 FIRM 20
1020 1 0.16 1020 0 21 FIRM 21
2000 1 0.16 2000 0.01 41 FIRM 41
2030 1 0.16 2030 0.01 41 FIRM 41
2100 1 0.16 2100 0.01 43 FIRM 43
4900 1 0.16 4900 0.01 99 FIRM 99
8270 1 0.16 8270 0.03 168 FIRM 168
8550 1 0.16 8550 0.03 173 FIRM 173
28260 1 0.16 28260 0.09 573 FIRM 573
28500 1 0.16 28500 0.09 578 FIRM 578
28980 4 0.65 115920 0.35 588 FIRM 2352
76000 1 0.16 76000 0.23 1542 FIRM 1542
76080 1 0.32 152160 0.46 1544 FIRM 3088
76270 1 0.16 76270 0.23 1547 FIRM 1547
76500 1 0.16 76500 0.23 1552 FIRM 1552
77000 1 0.16 77000 0.24 1562 FIRM 1562
77500 1 0.16 77500 0.24 1572 FIRM 1572
77520 1 0.16 77520 0.24 1573 FIRM 1573
600000 2 0.32 1200000 3.66 12173 FIRM 24346
666540 1 0.16 666540 2.03 13522 FIRM 13522
754800 1 0.16 754800 2.3 15313 FIRM 15313
869560 1 0.16 869560 2.65 17641 FIRM 17641
905500 2 0.32 1811000 5.53 18371 FIRM 36742

C, Allotment to QIBs
Allocation to QIBs has been done on a proportionate basis In consultation with NSE.

Category Fls/Banks MFs Flls VCs INCs Total
Shares Allotted 750288 409948 940471 12606 101817 2215130

Dates of despatch of Refund Orders, Credit to beneficiary Accounts, Refund Instructions and Listing details

Activity Date of Completion
Approval of Basis of Allotment by NSE 10th December, 2007
Despatch of Allotment Advices, Refund Orders and ECS Intimation Note 12th December, 2007
Refund Instructions to the Clearing System(in case of Refunds through ECS system) 11th December, 2007
Listing Application to BSE & NSE 12th December, 2007
Credit to Beneficiary Accounts 11th December, 2007

Refunds have been made through ECS, Direct credit, RTGS and NEFT, into the Bank Accounts of the applicants, as registered with the depositories, for applicants residing at any of the 15 centres specified by SEBI. For other applicants Refund Orders have been despatched to their address as registered with the depositories. In case the same is not received within ten days, applicants may contact at the address given below. ECS Intimation Note and Refund Orders have been overprinted with the Bank Mandate details as registered, if any, with the depositories. The Equity Shares allotted to successful applicants have been credited to their beneficiary accounts.

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 within seven working days from the date of approval of the basis of allotment.

INVESTORS PLEASE NOTE
The details of the allocation made would be hosted on the website of Registrars to the Offer, Intime Spectrum Registry Limited at www.intimespectrum.com
All future correspondence in this regard may kindly be addressed to the Registrars to the Offer 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:

Intime Spectrum Registry Limited
C-13, Pannalal Silk Mills Compound, LB.S. Marg, Bhandup (W), Mumbai - 400 078
Tel: +91 - 22 - 2596 0320 Fax: +91 - 22 - 2596 0329
Email: jyothylabs-ipo@intimespectrum.com
Website: www.intimespectrum.com
Contact person: Mr. Sachin Achar

 

Place: Mumbai
Date : 14th December, 2007

For JYOTHY LABORATORIES 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 JYOTHY LABORATORIES LIMITED

This advertisement is restricted and is not for publication in or distribution into the United States. This advertisement does not constitute an offer for sale within the United States of any Equity Shares or any other security of the Company. No securities of the Company have been or will be registered under the U.S. Securities Act of 1933 (the "U.S. Securities Act"), and no securities of the Company may be offered or sold in the United States absent such registration under the U.S. Securities Act or an exemption from such registration.

Jyothi Laboratories IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Jyothi Laboratories IPO?

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

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

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

  3. 3. What is Jyothi Laboratories IPO allotment process?

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