kiri dyes IPO Details

Issue Open Mar 25, 2008
Issue Close Apr 2, 2008
IPO Price ₹150
Face Value ₹10
IPO Size ₹56.25 Cr
Listing At BSE, NSE
IPO Lot Size 45

(This is only advertisement for information purpose and not a prospectus announcement)

KIRI DYES AND CHEMICALS LIMITED

(The Company was incorporated on May 14,1998 as Kiri Dyes and Chemicals Private Limited at Ahmedabad, Gujarat under the Companies Act, 1956 and was converted into a public limited company vide fresh certificate of incorporation dated May 3, 2006 issued by the Registrar of Companies, Gujarat, Dadra and Nagar Haveli located at Ahmedabad. The corporate identity number is U24231G J998PLC034094)
Registered Office: 7th floor, Hasubhai Chambers, Opp. Town Hall, Ellis Bridge, Ahmedabad - 380 006
(At the time of incorporation, the registered office of the company was situated at 53, Manekbaug Society, S M Road, Ambawadi, Ahmedabad - 380 015. W.e.f. February 1, 2007, the registered office was shifted to the present address)
Tel: +91-79-2657 4371, Fax : +91-79-2657 4374, Website: www.kiridyes.com
Corporate Office : Plot No.299/1/A, Near Water Tank, Phase II, GIDC, Vatva, Ahmedabad - 382 445
Tel: +91-79 -25894477, 2583 5297, Fax : +91-79-2583 4960, Email: ipo@kiridyes.com
Company Secretary and Compliance Officer : Mr.Suresh Gondalia

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 37,50,000 EQUITY SHARES OF Rs. 10/- EACH AT A PRICE OF RS. 150/- PER EQUITY SHARE FOR CASH AT A PREMIUM OF RS.140/-PER EQUITY SHARE AGGREGATING RS. 5625 LAKHS (THE ISSUE). THE ISSUE SHALL CONSTITUTE 25% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY.
ISSUE PRICE Rs. 150/- PER EQUITY SHARE OF FACE VALUE OF RS. 10 EACH. THE ISSUE PRICE IS 15 TIMES OF THE FACE VALUE.

The Issue was being made through a 100% Book Building Process wherein upto 50% of the issue shall be allocated on proportionate basis to Qualified Institutional Buyers ('QIBs'), (including 5% of the QIB that would be specifically reserved for Mutual Funds) Further, not less than 15% of the issue shall be available for allocation on a proportionate basis to non Institutional Bidders and not less than 35% of the issue shall be available for allocation on proportionate basis to Retail Individual bidders, subject to valid bids being received at or above the issue price.
The Issue has received 7745 applications for 5070915 equity shares resulting in 1.35 times subscription. The details of the applications received in the Issue from Qualified Institutional Bidders, Non-Institutional and Retail Individual bidders are as under (Before technical rejections):

Category No. of
Applications
No. of
Shares
Subscription
(No. of times)
Retail individual Bidders 7711 2909835 2.22
Non Institutional Bidders 30 683280 1.22
Qualified Institutional Bidders 4 1477800 0.79
TOTAL 7745 5070915 1.35

Final Demand
The summary of the final demand at various price levels as per the electronic book is given below.

Bid Price
per share
No. of
Equity
Shares
% to
Total  Bids
Cumulative
Total Bids
% to
Cumulative
Bids
125 290025 5.08 5707260 100.00
126 225 0.00 5417235 94.92
130 181395 3.18 5417010 94.91
131 45 0.00 5235615 91.74
135 1800 0.03 5235570 91.74
140 9225 0.16 5233770 91.70
144 45 0.00 5224545 91.54
145 315 0.01 5224500 91.54
150&Cutoff 5224185 91.54 5224185 91.54
TOTAL 5707260 100.00

The Basis of Allocation was finalized in consultation with The Bombay Stock Exchange Limited ('BSE') on April 11, 2008.
The board of directors of the company at its meeting held on April 11, 2008 approved the basis of allocation of equity shares in the issue and allotted equity shares to various successful applicants.

A. Allocation to Retail Individual Bidders
(After technical rejection)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at or above the Issue Price of Rs.150/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 2.19 times. After adjusting under subscription from the QIB category, a total of 1692338 shares (including 53 shares allotted due to rounding off.) were allotted to 7527 applicants in this category, due to which the subscription ratio reduced to 1.7 times. The category-wise details of the basis of allocation are as under:

Category No. of Applications % to total Total No.of
Shares Applied
% to total No. of
Shares Allocated
Ratio Total No.
of Shares Allocated
45 1881 24.99 84645 2.95 45.00 FIRM 49860
90 620 8.24 55800 1.94 53.00 FIRM 32860
135 267 3.55 36045 1.25 80.00 FIRM 21360
180 318 4.22 57240 1.99 106.00 FIRM 33708
225 78 1.04 17550 0.61 132.00 FIRM 10296
270 50 0.66 13500 0.47 159.00 FIRM 7950
315 260 3.45 81900 2.85 185.00 FIRM 48100
360 60 0.80 21600 0.75 212.00 FIRM 12720
405 8 0.11 3240 0.11 238.00 FIRM 1904
450 35 0.46 15750 0.55 265.00 FIRM 9275
495 10 0.13 4950 0.17 291.00 FIRM 2910
540 6 0.08 3240 0.11 318.00 FIRM 1908
585 1 0.01 585 0.02 344.00 FIRM 344
630 3933 52.25 2477790 86.22 371.00 FIRM 1459143

B. Allocation to Non Institutional Bidders
(after technical rejections)

The Basis of Allocation to the Non institutional bidders, who have bid at or above the Issue Price of Rs 150/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 1.17 times. After adjusting under subscription from the QIB category, a total of 659880 shares were allotted to 27 applicants on full and firm basis in this category, due to which the subscription ratio reduced to 1 time.

C. Allocation to Qualified Institutional Buyers
Allocation to QIBs has been done on full and firm basis in consultation with BSE. The under subscription under this category of  477165 shares were added to Retail and Non Institutional categories.. The details of shares allocated in this category are as under:

Category FIs/ Banks/ MFs Flls Insurance Companies VCs Total
No of shares -- -- 1397835 -- -- 1397835

The CAN cum Refund Orders, Intimation regarding Refund through electronic mode and allotment advice and notices are being 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 equity shares allocated to the 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 and National Stock Exchange of India Limited within seven working days from the date of approval of the basis of allocation.

INVESTORS PLEASE NOTE
These details of the allocation / allotment made are hosted on the website of Registrars to the Issue, Cameo Corporate Services Limited at www.cameoindia.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:

CAMEO CORPORATE SERVICES LIMITED
Unit: Kiri Dyes and Chemicals Limited 'Subramanian Building', No. 1, Club House Road, Chennai 600 002,.
Tel:+
91 44 2846 0390/1989/0014/0015/1092/1098, Fax:+91442846 0129
Email:
investor@cameoindia.com;Website: www.cameoindia.com
Contact Person: Mr. R D Ramasamy

Place: Ahmedabad
Date: April 18,2008
For Kiri Dyes and Chemicals ltd.
On behalf of the Board of Directors
Sd/-
Manish Kiri
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 KIRI DYES AND CHEMICALS LIMITED.

kiri dyes IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in kiri dyes IPO?

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

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

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

  3. 3. What is kiri dyes IPO allotment process?

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