Free Trading + Demat Account

Save Over 60% on Brokerage & Taxes

We can help you save between 60% to 90% brokerage fee & taxes. Contact us today...

NamePhone
EmailCity
State
Are you a day trader?
Mahanagar Gas IPO Details
IPO Date Jun 21, 2016 - Jun 23, 2016
IPO Price ₹421
Face Value ₹10
IPO Size ₹1,039.64 Cr
Listing At BSE, NSE
IPO Lot Size 35

MAHANAGAR GAS LIMITED

MAHANAGAR GAS

Our Company was incorporated on May 9, 1995 at Mumbai as Mahanagar  Gas Limited, a public company under the Companies Act, 1956. Our Company obtained a certificate of commencement of  business on July 4, 1995 Corporate identification Number: U40200MH1995PLC088133

Registered Office and Corporate Office; MGL House. G-33 Block, Bandra-Kurla Complex, Bandra (East}, Mumbai - 400 051. For details of change in registered office of our Company, see the section "History and Certain Corporate Matters" on page 131 of  the Prospectus dated June 25, 2016 filed with the Registrar of Companies Mumbai ( "Prospectus") Contact Person: Mr. Alok Mishra, Company Sectary and Compliance Officer: Tel: +91 (22) 6695 2941, Fax: +91 (22) 6675 6491; Email: mgl.ipo@mahanagargas.com: Website: www.mahanagargas.com

PROMOTERS OF OUR COMAPNY: GAIL (INDIA) LIMITED AND BG ASIA PACIFIC HOLDING PTE LIMITED

BASIS OF ALLOTMENT

Our Company has filed the Prospectus with the Registrar of Companies, Mumbai and the Equity Shares will  be listed on the BSE Limited (" BSE") and the National Stock Exchange of India Limited ("NSE") and the trading will commence on July 01,2016,

INITIAL PUBLIC OFFER OF 24,694,500 EQUITY SHARES OF FACE VALUE OF Rs.10 EACH ("EQUITY SHARES") OF MAHANAGAR GAS LIMITED ("COMPANY" OR "ISSUER") FOR CASH AT A PRICE OF RS.421 PER EQUITY SHARE ("OFFER PRICE') THROUGH AN OFFER FOR SALE OF 12,347,250 EQUITY SHARES BY GAIL (INDIA) LIMITED AND 12.347,250 EQUITY SHARES BY BG ASIA PACIFIC HOLDINGS PTE LIMITED ('SELLING SHAREHOLDERS") AGGREGATING TO RS 10,388.78* MILLION ("OFFER"). THE OFFER INCLUDES A RESERVATION OF 200,000 EQUITY SHARES, AGGREGATING TO RS.76.60 MILLION, FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (AS DEFINED HEREINAFTER) ON A COMPETITIVE BASIS ('EMPLOYEE RESERVATION PORTION"). THE OFFER LESS THE EMPLOYEE RESERVATION PORTION IS HEREINAFTER REFERRED TO AS THE 'NET OFFER". THE OFFER AND THE NET OFFER WILL CONSTITUTE 25.00% AND 24.80%, RESPECTIVELY, OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY. OUR COMPANY AND THE SELLING SHAREHOLDERS HAVE, IN CONSULTATION WITH THE BOOK RUNNING LEAD MANAGERS, OFFERED A DISCOUNT OF Rs.38 PER EQUITY SHARE ON THE OFFER PRICE TO ELIGlBLE EMPLOYEE ("EMPLOYEE DISCOUNT"). THE ANCHOR INVESTOR OFFER PRICE IS RS.421 PER EQUITY SHARE.

The Equity Shares have not been and wi11 not be rcgistered under the U. S. Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws in the United States. Accordingly, the Equity Shares are being offered and sold only outside the United States in offshore transactions in reliance on Regulation S under the Securities Act and the applicable laws of each  jurisdiction where such offers and sales occur.

*Adjusted for Discount of  Rs38 per Equity Share an the Offer Price to   Eligible Employees.

THE OFFER PRICE : RS.421 PER EQUITY SHARE OF FACE VALUE OF Rs.10  EACH
THE OFFER PRICE IS 42.1 TIMES OF THE FACE VALUE
ANCHOR INVESTOR OFFER PRICE:  RS.421 PER EQUITY SHARE

Risks to Investors:
i. The two Book Running Lead Managers associated with this Offer
have handled 13 public issues in the past three years,
of which five issues closed below the issue price on listing date.
ii. Average cost of acquisition of Equity Shares by the Promoters / Selling Shareholders
is
Rs.10 per Equity Share and the Offer Price for the public
at the upper end of the Price Band is as high as Rs.421

BID/OFFER PROGRAMME:
BED/OFFER OPENED ON: TUESDAY, JUNE 21, 2016
BID/OFFER CLOSED ON: THURSDAY, JUNE 23, 2016
ANCHOR INVESTOR BID/OFFER OPENED AND CLOSED ON: MONDAY, JUNE 20, 2316

Pursuant to Rule 19(2)(b) of the Securities Contracts Regulalion Rules, 1957. as amended  ("SCRR") read with Regulation 41 of  the  SEBI ICDR Regulations, the Offer has been made for at least 10% of the post-Offer paid-up Equity Share captal of our Company. This Offer has been made through the Book Building Process where 50% of the Nat Offer shall be available for allocation on a proportionate basis to Qualified institutional Buyers ("QIB") ( "QIB Portion"). Our Company and the Selling Shareholders have, in consolation with the Book Running Lead Managers, allocated 60% of the QIB Portion to Anchor Investors, on a discretionary basis ("Anchor Investor Portion") at the Anchor Investor Allocation Price, out of which at least one third was made available for allocation to domestic Mutual Funds only subject to valid Bids received from domeslic Mulual Funds at or above the Anchor Investor Allocation Price In event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion. Equity Shares representing 5% of  the QIB Portion (excluding the Anchor Investor Portion) was made available for allocation on a proportionate basis to Mutual Funds only. The remainder of the QIB Portion shall be available for allocation on a proportionate basis to QIBs (other than Anchor Investors}, including Mutual Funds, subject  to valid Bids being revived from them at or above the Offer Price. Further, 15% of the Net Offer was made available for allocation on a proportionate basis of  Non-Instiitutional Bidders and 35% of the Net Offer was made available for allocation to Retail Individual Bidders subject to valid Bids being received from them at or above the Offer Price. All investors other than Anchor Investors shall participate in this Offer through the Application Supported by Blocked Amount  ("ASBA"') process by providing the details of their respective ASBA Accounts. For details, see the section 'Offer Procedure' on page 295 of  the Prospectus.

The Offer received 961,025 Applications for 1,123,220,140 Equity Shares (before technical rejections) resulting in 45-.485 times subscription. The details of the Applications received in the Offer from various categories are as under: (Before technical rejections!

SI No. Category No. of Applications No. of
Equity Shares
No of Times Subscribed Amount (Rs) Shares Reserved
A Retail Individual Investors 958.516 56,416,150 6.581 23,774,832,004 8,573,075
B Non-lnstitutional Bidders 1,637 665,294,085 186.516 288,507,361,740 3,674,175
C Qualified Institutional Bidders
(excluding Anchor Investors)
201 373.931.180 76.330 157.425.026.780 4,898,900
D Anchor Investors 44 7,348,600 1.000 3,093,780,600 7,348,350
E Employee Reservation Portion 628 230,125 1.151 88, 140,215 200.000
TOTAL 961,026 1.1 23.220.140 45.485 472,889,111,339 24,694,500

Final Demand
A summary of the final demand as at different Bid prices is as under:

SI No, BID PRICE BIDS QUANTITY (%) TO TOTAL Cumulative Total %Cumulative Total
1 380 655,725 0.06 655,725 0 06
2 381 22,470 0.00 678,195 0.06
6 382 10,115 0.00 666,310 0.06
4 383 4.025 0.00 692,335 0.06
5 384 2,310 0.00 694 645 0.06
6 385 52,920 0.00 747 565 0 07
7 386 3,430 0.00 750,995 0 07
e 387 2,065 0.00 753,060 0,07
9 388 1,575 0.00 754,635 0 07
10 389 1,925 0.00 756,560 0.07
11 390 85,435 0.01 841,995 0,08
12 391 4.760 0.00 846,755 0.08
13 392 1,190 0.00 847 945 0.08
14 393 2,135 0.00 850.080 0.08
15 394 735 0.00 850,815 0.08
16 395 25.075 0.00 876,890 0.08
17 396 2,765 0.00 879,655 0.08
18 397 5,460 0.00 865,115 0.08
19 398 1,190 0.00 886,305 0.08
20 399 9,345 0.00 895 650 0.08
21 400 489,405 0.04 1,385,055 0.12
22 401 16,520 0.00 1.401,575 0,13
23 402 4,865 0.00 1,406,440 0.13
24 403 910 0.00 1,407,350 0.13
25 404 2,800 0.00 1.410.150 0.13
26 405 19.565 0.00 1,429,715 013
27 406 910 0.00 1,430,625 0.13
28 407 7,840 0.00 1,438.465 0.13
29 408 26.880 0.00 1,465,345 0.13
30 409 1,540 0.00 1.466,885 0,13
31 410 61.320 0.01 1,528,205 0.14
32 411 5.390 0.00 1,533,595 0.14
33 412 3,570 0.00 1.537.165 0.14
34 413 315 0.00 1,537,480 0.14
35 414 840 0.00 1,538,320 0.14
36 415 24,500 0.00 1,562,820 0.14
38 416 2,905 0.00 1,565,725 014
36 417 1,645 0.00 1,567,370 0.14
39 418 4,340 0.00 1,571,710 014
40 419 14,140 0.00 1,585,850 0.14
41 420 53,235 0.00 1,639,085 0,15
42 421 1,068,350,460 95.32 1,070,019,545 95.47
43 Cut-off 50.761.375 4.53 1,120,780,920 100.00
TOTAL 1,120,780,920 100.00

The Basis of Allotmant was finalized in consultation with the Designated Stock Exchange, being BSE on June 29,2016.

A. Allotment to Retail Individual Investors (AfterTechnical Rejections) (including ASBA Applications)

The Basis of Allotment to the Retail Individual Investors, who have Bid at the Offer Price of 7421 par Equity Share was finalized in consultation with BSE. This category has been subscribed to the extent of 6.4073 times after including spillover from Eligible
Employee category. The total number of Equity Shares Allotted in this category is 8,573,075 Equity Shares to 244,945 successful Retail Individual Investors. The category-wise details of the Basis of Allotment are as under:

Category No. of
Applications
Received
% of
Total
Total No. of
Equity Shares
applied
% to
Total
No.of Equity
Shares Allotted
per Applicant
Ratio of
allottees to
applicants
Total No. of
Equity Shares
Allotted
35 802,229 85.71 28,078,015 51.12 35 95:363 7,347,830
70 41,654 4.45 2,015,780 5.31 35 39:149 381,536
105 22.766 2.43 2,390,430 4.35 35 39:149 208.530
140 11,049 1.18 1,546,860 2.82 35 39:149 101.220
175 6,475 0.69 1,133,125 2.06 35 11:42 59,325
210 8,646 0.92 1,815,660 3.31 35 39:149 79,205
245 6,621 0.71 1,622,145 2.95 35 39:149 60.655
280 2,454 0.26 687,120 1.25 35 11:42 22,505
315 1.368 0.15 430,920 0.78 35 11:42 12,530
350 4,325 0.46 1,513,750 2.76 35 11:42 39,656
385 986 0.11 379,610 0.69 35 11:42 9,030
420 1.487 0.16 624,540 1.14 35 11:42 13,615
455 25.918 2.77 11,792,690 21.47 35 39:149 237,440

B. Allotment to Non Institutional Investors (AfterTechnical Rejections) (including ASBA Applications)

The Basis of Allotment to the Non - Institutional Investors. who have Bid at the Offer Price of  Rs 421 per Equity Share, was finalized in consultation with the BSE. This category has been subscribed to the extern of 185.6685 times after including spillover from Eligible Employee category. The total number of Equity Shares Allotted in this category is 3.674.175 Equity Shares to 889 successful Non Institutional Bidders,

The category-wise details of the Basis of Allotmentare as under;

Category No. of
Applications
Received
% of
Total
Tatal No.of
Equity Shares
applied
% to
Total
No. of Equity
Shares Allotted
per Applicant
Ratio of
allottees to
applicants
Total No. of
Equity Shares
Allotted
490 110 7.07 53,900 0.01 35 1:14 280
525 67 4.31 35,175 0.01 35 1:13 175
560 9 0.58 5.040 0.00 35 1:9 35
595 27 1.74 16,065 0.00 35 2:27 70
630 9 0.58 5,670 0.00 35 1:9 35
665 4 0.26 2.660 0.00 35 1:4 35
700 69 4.43 48.300 0.01 35 7:69 245
735 10 0.64 7,350 0.00 35 1:10 35
770 2 0.13 1,540 0.00 35 1:2 35
805 6 0.39 4.830 0.00 35 1:6 35
840 5 0.32 4.200 0.00 35 1:5 35
875 7 0.45 6.125 0.00 35 1:7 35
910 8 0.51 7.260 0.00 35 1:8 35
945 26 1.67 24,570 0.00 35 2:13 140
980 27 1.74 26.460 0.00 35 4:27 140

C. Allotment to QIBs (excluding Anchor Investors)

The Basis of Allotment to QIBs who have Bid at the Offer Price of  Rs 421 per Equity Share has been done on a proportionate basis in consultation with the BSE. This category has been subscribed to the extent of 76.3248 times of QIB Portion. As per the SEBI ICDR Regulations. Mutual Funds ware Allocated 5% of the Equity Shares of Net QIB Portion available i.e. 244,945 Equity Shares and other QIBs. including Mutual Funds, were Allocated the remaining available 4.653.955 Equity Shares on proportionate basis. The unsubscribed portion of Mutual Funds was added back to the QIB Portion. The total number of Equity Shares allotted in the QIB category is 4,898,900 Eqiity Shares, which were allotted to200 successful QIB Bidders. The calegory-wise details of the Basis of Allotment are as under:

CATEGORY FIS/BANKS Fll/FPC MF'S IC,S VC,S AIF TOTAL
ALLOTMENT 1365475 1859414 1068449 518469 58026 29067 4898900

D. Allotment to Anchor Investors

CATEGORY FIS/BANKS FII/FPC MF,S IC,S TRUST TOTAL
ALLOTMENT - 4408770 2694615 244965 7348350

The Company and the Selling Shareholders, in consultation with the BRLMs, have Allocated 7.348 350 Equity Shares to 25 Anchor Investors through 44 Applications at the Anchor Investor Offer Price of  Rs 421 per Equity Shares in accordance with the SEBI Regulations. This represents 60% of the QIB Portion.

E. Allotment to Eligible Employees (AfterTechnical Rejections)

The Basis of Allotment to the Eligible Employees, who have Bid at the Offer Price- (less discount) of Rs 383 per Equity Share, was finalized in consultation with the BSE. This Employee Reservation Portion has been subscribed to the extent of 1.0917 times. The tolal numberof Equity Shares Allotted in this category is 200,000 Equity Shares to 464 successful Eligible Employees.

The category-wise details of the Basis of Allotment are as under:

Category No.of
Applications
Received
% of
Total
Tatal No.of
Equity Shares
applied
% to
Total
No, of Equity
Shares Allotted
per Applicant
Ratio of
allottees to
applicants
Total No.of
Equity Shares
Allotted
35 3 0.65 105 0,05 35 1:1 105
70 3 0.65 210 0.10 64 1:1 192
105 1 0.22 105 0.05 96 1:1 96
140 2 0.43 280 0.13 128 1:1 256
175 3 0.65 525 0.24 160 1:1 480
245 4 0.86 980 0.45 225 1:1 900
280 7 1.51 1.960 0.90 256 1:1 1792
315 2 0.43 630 0.29 289 1:1 578
350 5 1.08 1750 0.80 321 1:1 1,605
385 7 1.51 2,695 1.23 353 1:1 2471
420 1 0.22 420 0.19 385 1:1 385
455 2 0.43 910 0.42 417 1:1 834
490 424 91.38 207,760 95,16 448 1:1 189,952
490 1 5:6 354

The IPO Committee of the Company at it's meeting held on June 29. 2016. has approved the Basis of Allotment of the Equity Shares approved by the Designated Stock Exchange, being BSE and Allotted the Equity Shares to various successful Applicants.

The Allotment Advice-cum-lntimations and/ or notices will be dispatched to the address of the investors as registered with the depositories. Further, instructions to the Self Certified Syndicate Banks have been dispatched/mailed on June 29,2016. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares Allotted to the successful Applicants have been credited on June 30,2016 to their beneficiary accounts subject to valdation of the account details with the depositories concemed. Our Company filed the Listing application with BSE and NSE on June 29,2016 The Equity Shares shall list and commence trading on or about July 1,2016. Note All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated June 25.2016 filed with the Registrar of Companies, Mumbai ("Prospectus")

INVESTORS PLEASE NOTE

These details of the Allotment made shall be hosted on the website of Registrar to Ihe Offer, Link Intime India Private Limited at www.linkintime.co.in

All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the first/ sole Bidder, Bid cum Application Form number, Bidder DP ID, Client ID. PAN. date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares applied for, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder, and a copy of (be Acknowledgment Slip received from the Designated Intermediary at the address given below:

Link Intime India Private Limited
C 13; pannalal Silk Mills compound, LBS Marg, Bhandup (West), Mumbai - 400 078.
Tel: +91 (22} 6171 5400; Fax: +91 (22) 2596 0329; Investor grievance Email: mgl.ipo@linkintime.co.in
Contact Person: Shanti Gopalkrishnan; Website: www.linkintime.co.in
SEBl Registration No.; INR 000004058

Place: Mumbai
Date: June 30,2016

For MAHANAGAR GAS LIMITED
On behalf of the Board of Directors
Sd/-
Alok Mishra
Company Secretary & Compliance Officer

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EFTHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF MAHANAGAR GAS LIMITED.

Find the basis of allotment for Mahanagar Gas IPO. The basis of allotment document helps to understand how shares are allotted in IPO of Mahanagar Gas Limited. It provides detail about how many valid IPO applications received for Mahanagar Gas IPO and IPO allotment ratio in investor categories i.e. Retail, NII, QIB, Employee and Shareholders. You could find the answer to questions like; why I didn't get IPO allotment in Mahanagar Gas IPO? or what is the Mahanagar Gas IPO allotment ratio?

Stock Traders - Get Assured Savings of 60% to 90% on Brokerage

We can help you reduce the brokerage cost. Our expert team compared top share brokers in India. STOP paying Demat AMC, Brokerage in %, PCM Fee and High Stamp Duty. Request a callback:

@




Message Board

Stock Message Board



Search Chittorgarh.com:

Chittorgarh.com Mobile Apps:

Download Android App Downlaod iOS App