MEP Infrastructure IPO Details

Issue Open Apr 21, 2015
Issue Close Apr 23, 2015
IPO Price ₹63
Face Value ₹10
IPO Size ₹324.00 Cr
Listing At BSE, NSE
IPO Lot Size 225

MEP INFRASTRUCTURE DEVELOPERS LIMITED

MEP Infrastructure Developers Limited (the 'Company') was incorporated as MEP Toll Road Private Limited on August 8, 2002, at Mumbai, Maharashtra as a private limited company under the Companies Act, 1956. The name of the Company was changed from MEP Toll Road Private Limited to MEP Infrastructure Developers Private Limited and a fresh certificate of incorporation consequent upon change of name was issued by the Registrar of Companies, Mumbai, to the Company on November 28, 2011. Thereafter, the Company was converted into a public limited company pursuant to approval of the shareholders in an extraordinary general meeting held on August 19, 2014 and consequently, the name of the Company was changed to MEP Infrastructure Developers Limited and a fresh certificate of incorporation consequent upon conversion to public limited company was granted on September 8, 2014. For details of changes in tne name and the registered office of the Company, see the section 'History and Certain Corporate Matters' on page 217 of the Prospectus.

Registered Office and Corporate Office: A 412, boomerang, Chandivali Farm Road, Near Chandivali Studio, Andheri (East), Mumbai 400 072; Contact Petson: ShridharPhadke, Company Secretary and Compliance Officer; Tel: (91 22) 6120 4800; Fax: (91 22) 6120 4804; Email: cs@mepinfra.com. Website: www.mepinfra.com; Corporate Identity Number: U45200MH 2002PLC136779

PROMOTERS OF THE COMPANY: DATTATRAY P. MHAISKAR, JAYANT D. MHAISKAR AND IDEAL TOLL & INFRASTRUCTURE PRIVATE LIMITED

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 51,074,941 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH (THE 'EQUITY SHARES ') OF MEP INFRASTRUCTURE DEVELOPERS LIMITED (THE 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS. 63* PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 53 PER EQUITY SHARE) AGGREGATING UP TO RS. 3,240 MILLION (THE 'ISSUE'). THE ISSUE WILL CONSTITUTE 31.42 % OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL OF THE COMPANY,
* Anchor Investor Issue Price is Rs. 65 /- per Equity Share.

ISSUE PRICE: RS. 63 PER EQUITY SHARE OF FACE VALUE OF RS. 63 EACH
THE ISSUE PRICE IS 6.3 TIMES THE FACE VALUE
ANCHOR INVESTOR ISSUE PRICE: RS. 65 PER EQUITY SHARE

BID/ISSUE: OPENED ON TUESDAY, APRIL 21, 2015 • CLOSED ON THURSDAY, APRIL 23, 2015
The Anchor Investor Bid/Issue period was one working Day prior to the Bid/Issue Opening Date, i.e. April 23, 2015

In terms of Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended (Oh 'SCRR'), read with Regulation 41 of the SEBI Regulations., the Issue was made for at least 25% of the post-Issue capital of the Company. The Issue was made through the Book Building Process wherein at least 75% of the Issue was Allotted on a proportionate basis to Qualified Institutional Buyers ('QIBs'), provided that the Company allocated up to 60% of the QIB Portion to Anchor Investors on a discretionary basis. 5% of the QIB Portion (excluding Ihe Anchor Investor Portion) was available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion was available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids was received at or above the Issue Price. If at least 75% of the Issue cannot be Allotted to QIBs, then the entire application money will be refunded forthwith. Further, not more than 15% of the Issue was available for allocation on a proportionate basis to Non-Institutional Bidders and not more than 10% of the Issue was available for allocation to Retail Individual Bidders in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the 'SEBI Regulations') subject to valid Bids was received at or above the issue Price. All potential Investors, other than Anchor Investors, who participate in the Issue through an Application Supported by Blocked Amount ('ASBA') process providing details of the bank account which will be blocked by the Self Certified Syndicate Banks ('SCSBs') QIBs (except Anchor Investors) and Non-Institutional Bidders are mandatorily required to utilise the ASBA process to participate in this Issue. For details, see the section 'Issue Procedure' on page 583 of the Prospectus.

The Issue received 17,604 Applications for 5.51,77,425 Equity Shares (before technical rejections) resulting In 1.0803 times subscription. The details of the Applications received in the issue from various categories are as under: (Before technical rejections)

Category No. of
Applications
No. of Equity
Shares
Shares
Reserved
No. of Times
Subscribed
A Retail Individual Investors 17,556 4,780,575 5,107,494 0.9360
B Non-Institutional Bidders 25 10,041,300 7,661,241 1.3107
C Qualified Institutional Bidders
(excluding Anchor Investors)
18 28,831,500 27,166,860 1,0613
D Anchor Investors 5 11,524,050 11,139,346 1.0345
Total 17,604 55,177,425 51,074,941 1.0803

Final Demand

A summary of the final demand as per the BSE and the NSE as on the Bid/Issue Closing Date at different Bid prices is as under:

Bid Price No. of Equity Shares % to Total Cumulative Total Cumulative % to Total
63 6,836,850 13.00 6,836,850 13.00
64 4,059,900 7.72 10,896,750 20.72
65 37,017,900 70.39 47,914,650 91.12
CUTOFF 4,672,125 8.88 52,586,775 100.00
TOTAL 52,586,775 100.00

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being NSE on April 29, 2015.

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

The Basis of Allotment to the Retail Individual Investors, who have Bid at Cut-off Price or at or above the issue Price of Rs. 63 per Equity Share was finalized in consultation with NSE. The category has been susbscribed to the extent of 0.9261 times. The total number of Equity Shares Allotted in this category is 4,730,175 Equity Shares to 17,427 sucessful applicants. The category-wise details of the Basis of Allotment are as under:

Category No. of
Applns.
% to total Total No. of
Equity Shares applied
% to total No. of Equity
shares Allolled
per applicant
Ratio Total No. of
Equity Shares
Allotted
225 16,750 96.12 3,768,750 79.67 225 1:1 3,768,750
450 258 1.48 116,100 2.45 450 1:1 116,100
675 64 0.37 43,200 0.91 675 1:1 43,200
900 62 0.36 55,800 1.18 900 1:1 55,800
1125 20 0.11 22,500 0.48 1125 1:1 22,500
1350 26 0.15 35,100 0.74 1350 l 1 35,100
1575 14 0.08 22,050 0.47 1575 l 1 22,050
1800 5 0.03 9,000 0.19 1800 1:1 9,000
2025 1 0.01 2,025 0.04 2025 1:1 2,025
2250 12 0.07 27,000 0.57 2250 1:1 27,000
2700 2 0.01 5,400 0.11 2700 1:1 5,400
2925 212 1.22 620,100 13.11 2925 1:1 620,100
3150 1 0.01 3,150 0.07 3150 1:1 3,150

The under subscribed portion of 377,319 Equity Shares in Retail Individual Bidders category has, been spilled over to QIB.

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

The Basis of Allotment to the Non-Institutional Investors, who have Bid at or above the Issue Price of Rs. 63 per Equity Share, was finalized in consultation with the NSE. This category has been subscribed to the extent of 0.9069 times. The total number of Equity Shares Allotted in this category is 6,948,225 Equity Shares to 23 successful applicants.
The category-wise details of the Basis of Allotment are as under:

Category No. of
Applns.
% to total Total No. of
Equity Shares
applied
% to total No. of Equity
Shares Allotted
per applicant
Ratio Total No. of
Equity Shares
Allotted
3,150 1 4.35 3,150 0.05 3,150 1:1 3,150
3,600 1 4.35 3,600 0.05 3,600 1:1 3,600
4,500 2 8.70 9,000 0.13 4,500 1:1 9,000
5,400 1 4.35 5,400 0.08 5,400 1:1 5,400
7,650 1 4.35 7,650 0.11 7,650 1:1 7,650
10,575 1 4.35 10,575 0.15 10,575 1:1 10,575
12,375 1 4.35 12,375 0.18 12,375 1:1 12,375
15,300 1 4.35 15,300 0.22 15,300 1:1 15,300
16,200 1 4.35 16,200 0 23 16,200 1:1 16,200
55,350 1 4.35 55,350 0.80 55,350 1:1 55,350
60,075 2 8.70 120,150 1.73 60,075 1:1 120,150
153,675 3 13.04 461,025 6.64 153,675 1:1 461,025
238,050 1 4.35 238,050 3.43 238,050 1:1 238,050
306,225 1 4.35 306,225 4.41 306,225 1:1 306,225
500,175 1 4.35 500,175 7.20 500,175 1:1 500,175
769,050 1 4.35 769,050 11.07 769,050 1:1 769,050
923,175 1 4.35 923,175 13.29 923,175 1:1 923,175
1,587,150 1 4.35 1,587,150 22.84 1,587,150 1:1 1,587,150
1,904,625 1 4.35 1,904,625 27.41 1,904,625 1:1 1,904,625

The under Subscribed portion portion of 713, 016 Equity Shares in Non Institutional Bidders category has been spilled over to QIB.

C. Allotment to QIBs excluding Anchor Investors

The Basis of Allotment to QIBs who have Bid at or above the Issue Price of Rs. 63 per Equity Share has been done on a proportionate basis in consultation with the NSE. This category has been subscribed to the extent of 1.0214 times. As per the SEBI Regulations, Mutual Funds were Allocated 5% of the Equity Shares of Net QIB Portion available i.e. 1,412,860 Equity Shares (including under subscribed portion of 35,651 Equity Shares spilled over from Non Institutional Category and 18,866 Equity Shares spilled over from Retail Category) and other QIBs, including Mutual Funds, were Allocated the remaining available 2,68,44,335 (including under subscribed portion of 677,365 Equity Shares spilled over from Non Institutional Category and 358,453 Equity Shares spilled over from Retail Category) on proportionate basis. The total number of Equity Shares allotted in the QIB category is 2,82,57,195 Equity Shares, which were allotted to 18 successful Applicants. The category-wise details of the Basis of Allotment are as under:

Category FIs / Banks FIIs MFs ICs Total
QIBs 2,259,266 11,984,505 9,502,602 4,510,822 28,257,195

D. Allotment to Anchor Investors

Category FII s MFs Total
QIBs 6,908,400 4,230,946 11,139,346

The Company in consultation with the BRLMs have Allocated 11,139,346 Equrty Shares to 4 Anchor Investors through 5 Applications at the Anchor Investor Issue Price of Rs. 65 per Equity Shares in accordance with the SEBI Regulations. This represents 28.2749% of the QIB Category

The IPO Committee of the Company at it's meeting held on April 30, 2015, has approved the Basis of Allotment of the Equity Share approved by the Designated Stock Exchange, being NSE and Allotted the Equity Shares to various successful Applicants.

The Allotment Advice-cum-Refund Orders and/ or notices have been dispatched on or before May 2, 2015 to the address of the investors as registered with the depositories. Further, instructions to the Self Certified Syndicate Banks have been dispatched/mailed on April 30, 2015. In case the same is not received within ten days, investors may contact the Registrar to the Issue at the address given below. The Refund Orders have been over-printed with the Bank Accoum details as registered, If any, with the depositories. The Equity Shares Allotted to the successful Applicants have been credited on April 30, 2015 to their beneficiary accounts subject to validation of the account details with the depositories concerned. Our Company is taking steps for completion of the necessary formalities to get the Equity Shares admitted for trading on the BSE and the NSE within twelve Working Days from the Bid/Offer Closing Date.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated April 27, 2015 filed with the Registrar of Companies. Maharashtra at Mumbai ('Prospectus')

INVESTORS PLEASE NOTE

These details of the Allotment made shall be hosted on the website of Registrar to the Issue, 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 Issue quoting full name of the First/ Sole applicant, Serial number of the Bid-Cum-Application form, number of Equity Shares bid for, name of the Member of the Syndicate, place where the bid was submitted and payment details at the address given below:

Link Intime India Private Limited
C-13, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West), Mumbai 400 078
Tel: (91 22) 6171 5400, Fax: (91 22) 2596 0329
E-mail: mep.ipo@linkintime.co.in, Website: www.linkintime.co.in
Contact Person: Sachin Achar, SEBI Registration No.: INR000004058

Place : Mumbai
Date : May 4, 2015

For MEP Infrastructure Developers Limited
On behalf of the Board of Directors
Sd/-
Vice Chairman & Managing Director

MEP Infrastructure IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in MEP Infrastructure IPO?

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

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

    Visit the MEP Infrastructure IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is MEP Infrastructure IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in MEP Infrastructure 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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