Mudra Lifestyle IPO Details

Issue Open Feb 8, 2007
Issue Close Feb 14, 2007
IPO Price ₹90
Face Value ₹10
IPO Size ₹86.22 Cr
Listing At BSE, NSE
IPO Lot Size 70

MUDRA LIFESTYLE LIMITED

(The company was originally incorporated as Bombay Rise Fabrics Private Limited on March 31, 1997. Name of the company was changed to Mudra Textiles Private Limited w.e.f. October 10, 2001. Name of the company was further changed to Mudra Textile Limited w.e.f. December 1, 2005. Name of the company was further changed to
Mudra Lifestyle Limited w.e.f. December 2, 2005)
Registered Office: 149, Shiv Shakti industrial Estate. III Phase, Andheri Kurla Road. Andheri East, Mumbai 400 059, Maharashtra. The Company has shifted its registered office from 156 Shiv Shakti Industrial Estate, III Phase, Andheri Kurla Road, Andheri (East), Mumbal - 400 059 with effect from June 11, 2002. The Company had earlier shitted its registered office with effect from September 24,2001 from 5A Nandjyot Industrial Estate, Mohili Village, Andheri Kurla Road, Andheri (E), htambai - 59 to 156 Shiv Shakti Industrial Estate, III Phase, Andheri Kurla Road, Andheri (East). Mumbai - 400 059, Telephone No.: +91 22 2859 2703 Fax: :- 91 22 2850 6115,
Email: ipo@mudralifestyle.com.   Website:www.mudralifestyle.com,
Compliance Officer: Mr. Mahesh K. Poddar Corporate office: 5129-41, D-wing, 5th Floor. Oberoi Garden Estates, Chandivali Farms Road. Chandivaii. Andheri (E), Mumbai - 400 072.

BASIS OF ALLOCATION

Public Issue of Mudra Lifestyle Limited (hereinafter called "the Company") made a Initial Public Offer of 9,580,000 Equity Shares ef Rs. 10/- each at a premium of Rs. 80/- per share i.e. at a price of Rs. 90/- per share for cash aggregating to Rs. 862.20 Million comprising reservation of 4,79,000 Equity snares for eligible employees an a competitive Basis. Net offer to Public of 9,101,880 Equity Shares vide Red Herring Prospectus dated January 23, 2007. The Issue opened for subscription on February 8, 2007 and closed for subscription on February 14, 2007. The Issue Price is 9 times the face value.

The Company has offered 95,80,000 Equity Shares of Rs. 10/- at the premium of Rs. 80/- per share, to the public in terms of the Prospectus dated 20a February 2007, of which 4,79,000 Equity Shares were reserved for Eligible Employees of the company.

The Company received 29,013 applications for 43,152,615 Equity Shares. Of which valid applications were 27,235 for 39,053,210 Equity Shares. Of the total valid applications received, 27,087 applications were in retail category for 8,914,290 Equity Shares, 73 applications in Non-retail category for 1,612,940 Equity Shares, 44 applications in Eligible Employees Category for 214,830 Equity Shares arid 31 applications in QIB Category for 28,311.150 Equity Shares.

The public issue was oversubscribed by 2.58 times in case of Retail Category, 1.18 times in case of Non-Retail Category and 6.22 times in case of QIB Category. The public issue was subscribed at 0.44 times in case of Eligible Employees category.

As per aforesaid prospectus, under subscription of 264,170 Equity Shares in the Eligible Employees category was spilled over for allotment to Retail Category.

In terms of the aforesaid Prospectus and also as per the guidelines issued by SEBI, not less than 35% of the net offer to the Public shall be available for allotment to Retail Individual Bidders and 15% of the net offer to Public shall be available for allotment to Non-Institutional Bidders and the remaining 50% of the net offer to the Public shall be available for allotment to QIB's (Qualified Institutional Bidders). However, based on the ratio of valid applications received in each category to the total valid applications received, 3,449,520 Equity Shares(including 264,170 Equity Shares spilled over for Eligible Employees Category) is made available for allotment to Retail Bidders, 1,365,150 Equity Shares is made available for Non-retail Bidders (i.e Non-Institutional Bidders), 214,830 Equity Shares to Eligible Employees and 4,550,500Equity shares to QIB Bidders.
As required under the listing agreement, the basis of allotment has been approved by the designated stock exchange i.e. Bombay Stock Exchange Limited, on 28th February 2007.

The Issue received 29,013 applications for 43,152,615 equity shares resulting in 4.07 times subscription. The details of the valid applications received in the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Individual Investors categories are as under (After technical rejections):

Category No. of Applications No. of Shares Subscription (No.of Times)
Retail Bidders 27,087 8,914,298 2.58
Non Institutional Bidders 73 1,612,940 1.18
Qualified Institutional Bidders 31 28,311,150 6.22
Eligible Employees 44 214,838 0.44
TOTAL 27,235 39,053,210 4.07

Final Demand
The final demand at different bid prices is as under:

Bid Price No. of Shares % to Total Cumulative Total Cumulative % to total
75.00 3631600 8.26348 43947610 100.00000
76.00 210 0.00048 40316010 91.73652
77.00 70 0.00016 40315800 91.73605
78.00 560 0.00127 40315730 91.73589
79.00 1400 0.00319 40315170 91.73461
80.00 11550 0.02628 40313770 91.73143
81.00 280 0.00064 40302220 91.70515
82.00 910 0.00207 40301940 91.70451
83.00 1120 0.00255 40301030 91.70244
84.00 1470 0.00334 40299910 91.69989
85.00 11200 0.02548 40298440 91.69655
86.00 630 0.00143 40287240 91.67106
87.00 1120 0.00255 40286610 91.66963
88.00 420 0.00096 40285490 91.66708
89.00 280 0.00064 40285070 91.66612
90.00 31088400 70.73968 48284798 91.66549
CUTOFF 9196398 20.92580 3196390 20.92580

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Ltd. on February 28, 2007.

A. Allocation to Retail investors
The Basis of Allocation to the Retail Investors, who have bid at cut-off or at the issue Price of Rs 90/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 2.58 times. The total number of shares allotted in this category is 3,449,520 Equity Shares. The category-wise details of the Basis of Allocation are as under:

Category No. of Applns. % to total Total
No. of Shares applied
% to total No. of Shares allocated Ratio Total
No. of Shares allocated
70 8252 30.46 577640 6.48 70 33:85 224280
140 4756 17.56 665840 7.47 70 45:58 258300
210 2827 10.44 593670 6.66 81 FIRM 228987
280 1826 6.74 511280 5.74 108 FIRM 197208
350 1226 4.53 429100 4.81 135 FIRM 165510
420 511 1.89 214620 2.41 163 FIRM 83293
490 3008 11.1 1473920 16.53 190 FIRM 571520
560 541 2 302960 3.4 217 FIRM 117397
630 149 0.55 93870 1.05 244 FIRM 36356
700 292 1.08 204400 2.29 271 FIRM 79132
770 64 0.24 49280 0.55 298 FIRM 19072
840 45 0.17 37800 0.42 325 FIRM 14625
910 38 0.14 34580 0.39 352 FIRM 13376
980 61 0.23 59780 0.67 379 FIRM 23119
1050 3491 12.89 3665550 41.12 406 FIRM 1417345
Total 27087 100.00 8914290 100.00 3449520

B) Allocation to Non institutional Investors
The Basis of Allocation to the Non institutional, who have bid at the Issue Price of Rs 90/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 1.18 times. The total number of shares allotted in this category is 4,550,500 Equity Shares. The category-wise details of the Basis of Allocation (Sample) are as under:

Category No. of
Applns.
% to total Total No. of
Shares applied
% to total No. of Shares
allocated
Ratio Total No. of
Shares allocated
1120 10 13.7 11200 0.69 948 FIRM 9480
1260 1 1.37 1260 0.08 1066 FIRM 1066
1400 3 4.11 4200 0.26 1185 FIRM 3555
2100 1 1.37 2100 0.13 1777 FIRM 1777
2170 3 4.11 6510 0.4 1837 FIRM 5511
2240 4 5.48 8960 0.56 1896 FIRM 7584
2660 5 6.85 13300 0.82 2251 FIRM 11255
2730 1 1.37 2730 0.17 2311 FIRM 2311
3290 1 1.37 3290 0.2 2785 FIRM 2785
3500 1 1.37 3500 0.22 2962 FIRM 2962
3990 2 2.74 7980 0.49 3377 FIRM 6754
4200 1 1.37 4200 0.26 3555 FIRM 3555
4970 2 2.74 9940 0.62 4206 FIRM 8412
5040 6 8.22 30240 1.87 4266 FIRM 25596
5530 6 8.22 33180 2.06 4680 FIRM 28080
5600 4 5.48 22400 1.39 4740 FIRM 18960
6650 1 1.37 6650 0.41 5628 FIRM 5628
11060 2 2.74 22120 1.37 9361 FIRM 18722
16660 1 1.37 16660 1.03 14101 FIRM 14101
21980 1 1.37 21980 1.36 18603 FIRM 18603
22190 1 1.37 22190 1.38 18781 FIRM 18781
25060 1 1.37 25060 1.55 21210 FIRM 21210
28000 3 4.11 84000 5.21 23698 FIRM 71094
40250 1 1.37 40250 2.5 34067 FIRM 34067
44380 1 1.37 44380 2.75 37562 FIRM 37562
53480 1 1.37 53480 3.32 45264 FIRM 45264
55510 2 2.74 111020 6.88 46982 FIRM 93964
55580 1 1.37 55580 3.45 47041 FIRM 47041
56000 1 1.37 56000 3.47 47397 FIRM 47397
111020 2 2.74 222040 13.77 93964 FIRM 187928
222040 1 1.37 222040 13.77 187929 FIRM 187929
222250 2 2.74 444500 27.56 188108 FIRM 376216
Total 73 100.00 16129401 100.00 883537 1365150

C. Allocation to Qualified Institutional Buyers
Allocation to QIBs have been done on a proportionate basis in consultation with the Bombay Stock Exchange Limited. As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available (227,525) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (4,322,975) on proportionate basis. Mutual Funds were allotted 15.10% for QIB segment and other QIB applicants were allotted 84.90% of the shares for QIB segment.

Category Fls/Banks MFs Flls Insurance Companies VCs Total
No.of Shares 1149863 687086 2482745 230806 0 4550580

The Board of the Company, at its Meeting held at Mumbai on February, 2007 has approved the basis of allocation of shares of the Issue and has allotted the shares to various successful applicants.
The Refund Orders and allotment advice and notice has been 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 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 National Stock Exchange of India Limited and 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 bo hosted on the website of Registrars to the Issue, Bigshare Services Pvt. Ltd. at www.bigshareonline.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, DPID, Client ID 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:

BIGSHARE SERVICES PVT. LTD.
E2/3 Ansa Industrial Estate, Saki Vihar Road, Saki Naka, Andheri East, Mumbai 400 077
Tel: +91 22 2847 0652, Fax: +91 22 2847 5207,
Email: ipo@bigshareonline.com. Website: www.bigshareonline.com


Place : Mumbai
Date : March 6, 2007

For Mudra Lifestyle Ltd.
Sd/-
Company Secretary

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 MUDRA LIFESTYLE LTD.

Mudra Lifestyle IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Mudra Lifestyle IPO?

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

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

    Visit the Mudra Lifestyle IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Mudra Lifestyle IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Mudra Lifestyle 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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