(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. |