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KEW Industries IPO Details

Issue Open Aug 28, 2006
Issue Close Sep 1, 2006
IPO Price ₹30
Face Value ₹10
IPO Size ₹21.00 Cr
Listing At NSE
IPO Lot Size 170

KEW INDUSTRIES LIMITED
(Our Company was Incorporated as KEW Industries Limited on September 23, 1996 under the Companies Act, 1956, at Jalandhar and received the certificate of commencement of buslness on January 02, 2006.)

Registered Office: B-3, Focal Point, Jalandhar 144 001 (Punjab). Tel: 91-181- 2455171; Fax: 91-181- 2225715;
Contact Person: Ms. Taranjeet Kaur, Compliance Officer and Company Secretary; E-mail: info@kewltd.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 70,00,000 EQUITY SHARES OF RS. 10/- EACH AT A PREMIUM OF RS.20/- PER SHARE ('EQUITY SHARES') OF KEW INDUSTRIES LIMITED (THE 'COMPANY'), AGGREGATING TO RS. 2100 LACS (HEREINAFTER CALLED AS 'ISSUE'). OF THE ABOVE, 27,50,000 EQUITY SHARES RESERVED FOR ALLOTMENT TO NRIs/FIIs AND 10,00,000 EQUITY SHARES TO MFs / BANKS / INDIAN FINANCIAL INSTITUTIONS ON COMPETITIVE BASIS. THE NET OFFER TO THE PUBLIC IS 32,50,000 EQUITY SHARES.
(Issue Price is 3.0 times the face value of equity shares of the Company)

The Board of Directors of Kew Industries Limited wish to thank the Investing public, for their response to the Issue which opened for subscription on 28th August, 2006 and closed on 1st September, 2006. The Issue received 11,854 applications for 1,76,20,060 Equity Shares resulting in 2.52 times subscription. The Basis of allotment was finalised in consultation with the Designated Stock Exchange Bombay Stock Exchange Limited ('BSE') on 15th September, 2006. The details of the Applications received in the Issue from NRIs/Flls, MFs/Banks/IFIs, Non-Institutional and Retail categories are as under:

Category Total no. of
applications
No. of Shares No. of valid
applications
No. of
shares
Subscription
(No. of Times
NRIs / Flls 12 1583620 9 1566960 0.57
MFs / Banks / IFIs 0 0 0 0 0
Public 11842 16036440 11703 15903160 2.93

Since the MFs/ Banks / Indian Financial Institutions and NRIs / Flls categories have not been subscribed / undersubscribed, the issuer in consultation with the lead managers has exercised the spill over option and added the unsubscribed portion of 21,83,040 equity shares to net offer to the public.

A) ALLOTMENT TO NRIs/ FIIs

The Basis of Allotment to NRIs / FIIs, was finalized in consultation with the BSE. The Company received 9 valid applications for 1566960 Equity Shares in this category resulting in 0.57 times subscription. Hence FULL and FIRM allotments have been made against all valid applications.
The number of shares allotted to NRIs / FIIs are 1566960.

B) ALLOTMENT TO RETAIL INDIVIDUAL INVESTORS
The Basis of Allotment to the Retail Individual Investors, was finalized in consultation with the BSE. The Company received 11646 valid applications for 14110850 Equity Shares in this category resulting in 2.93 times subscription. The number of shares allotted to 10029 Retail Individual applicants for 4820728 equity shares. A sample of category-wise allotment is ac under

category No.Of
Applns.
% to
_Total
No. of Shares
Applied
% to
Total
No. of Shares
Allocated
Ratio Total Shares
Allocated
170 1754 15.06 298180 2.11 170 5:14 106590
340 1469 12.61 499460 3.54 170 2:3 166430
510 1084 931 552840 392 174 FIRM 188616
680 1265 10.86 860200 6.10 232 FIRM 293480
850 571 4.90 485350 3.44 290 FIRM 165590
1 2:3 391
1020 340 2.92 346800 2.46 348 FIRM 118320
1190 116 1.00 138040 0.98 407 FIRM 47212
1360 273 2.34 371280 2.63 465 FIRM 126945
1530 2627 22.56 4019310 28.48 523 FIRM 1373921
1700 188 1.61 319600 2.26 581 FIRM 109228
1870 11 0.09 20570 0.15 639 FIRM 7029
2040 29 0.25 59160 0.42 697 FIRM 20213
2210 15 0.13 33150 0.23 755 FIRM 11325
2380 19 0.16 45220 0.32 813 FIRM 15447
2550 12 0.10 30600 0.22 871 FIRM 10452
2720 26 0.22 70720 0.50 929 FIRM 24154
2890 9 0.08 26010 0.18 987 FIRM 8883
3060 14 0.12 42840 0.30 1045 FIRM 14630
3230 1824 15.66 5891520 41.75 1103 FIRM 2011872

C) ALLOTMENT TO NON-INSTITUTIONAL INVESTORS (individual who have applied for 3400 shares and above; Bodies Corporate/ Institutions)
The Basis of Allotment to the Non-Institutional Investors, was finalized in consultation with BSE. The Company received 57 valid applications for 1792310 Equity Shares in this category resulting in 2.93 times subscription. The number of shares allotted to 57 Non-Institutional Investors is 612312 equity shares. A sample of category-wise allotment is as under:

Category No. Of
Applns.
% to
Total
No. of Shares
Applied
% to
Total
No.Of Shares
Allocated
Ratio Total Shares
Allocated
3060 2 3.51 6120 0.34 1046 FIRM 2092
3400 16 28.07 54400 3.04 1162 FIRM 18592
4250 5 8.77 21250 1.19 1452 FIRM 7260
5100 2 3.51 10200 0.57 1743 FIRM 3486
5950 1 1.75 5950 0.33 2033 FIRM 2033
6630 2 3.51 13260 0.74 2265 FIRM 4530
6800 2 3.51 13600 0.76 2323 FIRM 4646
8500 5 8.77 42500 2.37 2904 FIRM 14520
9860 1 1.75 9860 0.55 3369 FIRM 3369
10030 2 3.51 20060 1.12 3427 FIRM 6854
17000 2 3.51 34000 1.90 5808 FIRM 11616
20230 1 1.75 20230 1.13 6911 FIRM 6911
29920 2 3.51 59840 3.34 10222 FIRM 20444
34000 2 3.51 68000 3.79 11616 FIRM 23232
59840 1 1.75 59840 3.34 20443 FIRM 20443
68000 2 3.51 136000 7.59 23231 FIRM 46462
71400 1 1.75 71400 3.98 24393 FIRM 24393
83300 1 1.75 83300 4.65 28458 FIRM 28458
85000 1 1.75 85000 4.74 29039 FIRM 29039
102000 4 7.02 408000 22.76 34847 FIRM 139388
170000 1 1.75 170000 9.48 58078 FIRM 58078
399500 1 1.75 399500 22.29 136466 FIRM 136466

The Board of Directors of the company at its Meeting held at Plot No. 17-24, Vithalrao Nagar, Madhapur, Hyderabad -
500 081 on 16th September, 2006 at 10.30 A.M has approved the basis of allocation of shares of the Issue and has allotted the shares to various successful applicants.

The Refund Orders and /or allotment advice have been dispatched to the address of the investors as registered with the depositories on 19th September, 2006. 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 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 webstte of Registrars to the Issue,
Karvy Computershare Private Limited at www.karvy. com or http://karisma.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 application form, applied number of shares, and payment details at the address given below:

Karvy Computershare Private Limited, Unit: Kew Industries,
Karvy House, 46, Avenue 4, Street No.1, Banjara Hills, Hyderabad 500 034
Email: kew.ipo@karvy.com OR mailmanager@karvy.com

TOLL  FREE - HELPLINE NUMBER 1-800-3454001

Place : Jalandhar
Date : 19th September, 2006

For Kew Industries Limited
Sd/-                  
Taranjeet Kaur         
(Company Secretary and Compliance Officer)

KEW Industries IPO Basis of Allotment FAQs

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

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

Visit the KEW Industries 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 KEW Industries IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).