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Nissan Copper IPO Details

Issue Open Dec 4, 2006
Issue Close Dec 8, 2006
IPO Price ₹39
Face Value ₹10
IPO Size ₹25.00 Cr
Listing At BSE, NSE
IPO Lot Size 160

NISSAN COPPER LTD

(Our Company was incorporated on December 01,1989 as Nissan Copper Private Limited under the Companies Act, 1956, with Registration Number 04-13072. Our Company was converted into a Public Limited Company with effect from December 08, 2005 with its name as Nissan Copper Limited)
Registered Office: Shed No. J/20, GIDC, Umbergaon, Gujarat-396 171; Tel: +91-0260-2562020;
Fax: +91-0260-2563300; Website: www.nissancopper.com
Corporate Office: 1002, Raheja Center, 10th Floor, Nariman Point Mumbai- 400 021; Tel: +91-022- 32522077/81;
Fax: +91-022- 22833889. Contact person: Mr. Rahul Singh, Company Secretary and Compliance Officer;
E-mail: rahulcs@nissancopper.com

PUBLIC ISSUE OF 64,10,257 EQUITY SHARES OF RS. 10/- EACH AT A PRICE OF RS. 39/- PER EQUITY SHARE FOR CASH AGGREGATING RS. 2500/- LACS (HEREINAFTER REFERRED TO AS THE 'ISSUE'), INCLUDING EMPLOYEE RESERVATION OF 6,41,026 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH AT A PRICE OF RS. 39/- PER EQUITY SHARE FOR CASH AGGREGATING RS. 250/- LACS (HEREINAFTER REFERRED TO AS THE 'EMPLOYEE RESERVATION PORTION'). THE ISSUE LESS THE EMPLOYEE RESERVATION PORTION SHALL BE HEREINAFTER REFERRED TO AS THE 'NET ISSUE'. THE ISSUE WILL CONSTITUTE 44.04% OF THE POST ISSUE PAID-UP CAPITAL OF THE COMPANY.
ISSUE PRICE OF RS. 39/- PER EQUITY SHARE OF FACE VALUE RS. 10/- EACH. THE ISSUE PRICE IS 3.9 TIMES OF THE FACE VALUE

BASIS OF ALLOCATION

The Issue being made through the 100% Book Building Process where up to 50% of the Net Issue to the public was to be allocated on a proportionate basis to Qualified Institutional Buyers ('QIBs'). 5% of the QIB Portion was to be available for allocation on a proportionate basis to Mutual Funds only and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, atleast 15% of the Net Issue to the public shall be available for allocation on a proportionate basis to Non-Institutional Bidders and atleast 35% of the Net Issue to the public shall be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price.
The Board of Directors of Nissan Copper Limited ('The Company') wish to thank all the investors for their response to the Public Issue. The basis of allotment has been finalized in consultation with the Bombay Stock Exchange Limited (BSE) on December 19, 2006 and the equity shares have been allotted as per details given below:

Public Issue opened on Monday, December 04, 2006 and closed on Friday, December 08, 2006. The details of applications received are as follows:-

Particulars
No of equity shares offered 64,10,257
No of valid application received 10,098
Total no. of equity shares applied for 3,36,60,320
No. of times oversubscribed 5.25
Category Number of Applications Number of Shares Subscription (Times)
Qualified Institutional Buyers 3 4366560 1.51
Non institutional Investors 39 1,93,90,560 20.23
Retail Bidders 10,049 95,72,000 4.28
Employees 7 3,31,200 0.52
Total 10,098 3,36,60,320 5.25

Final Demand
Sample of the final demand at different bid prices is as under:

Bid Price No. of Shares Percentage
of Total Bids
Cumulative
Shares
Cumuiative(%)
33 3,840 0.01 3,56,26,880 100.00
34 2,080 0.01 3,56,23,040 99.99
35 26,720 0.07 3,56,20,960 99.98
39 2,240 0.01 3,55,94,240 99.91
37 22,080 0.06 3,55,92,000 99.90
38 160 0.00 3,55,69,920 99.84
39 2,57,81,920 72.37 3,55,69,760 99.84
Cut-Off 97,87,840 27.47 97,87,840 27.47
Total 3.56.26.880 100.00

A) ALLOCATION TO EMPLOYEES
The Basis of Allocation to the employee category, who have bid at cut-off or at the Issue Price of Rs. 39/- per Equity Share was finalized in consultation with BSE. The total number of shares applied and allotted in this category is 3,31,200. Full and firm allotments have been made in this category. The under subscription of 3,09,826 Equity Shares have been added to Retail and the Non Institutional category. 

B) ALLOCATION TO RETAIL INDIVIDUAL BIDDERS
The Basis of Allocation to Retail Investors, who have bid at cut-off or at the Issue Price of Rs. 39/- per Equity Share, was finalized In consultation with BSE. The Retail category was subscribed 4.28 times. The total number of shares allotted in this category is 22,36,727 Equity Shares. The category-wise details of the Basis of Allocation are as under:

Category No. Applications % of total applications No. ot shares applied % of total shares hid No. of shares Allocated Ratio Total no. of shares allocated
160 2812 27.98 449920 4.70 160 11:47 105280
320 1696 16.88 542720 5.67 160 22:47 127040
480 845 8.41 405600 4.24 160 40:57 94880
640 528 5.25 337920 3.53 160 29:31 79040
800 381 3.79 304800 3.18 187 1:1 71247
960 177 1.76 169920 1.78 224 1:1 39648
1120 153 1.52 171360 1.79 262 1:1 40086
1280 1202 11.96 1538560 16.07 299 1:1 359398
1440 43 0.43 61920 0.65 336 1:1 14448
1600 56 0.56 89600 0.94 374 1:1 20944
1760 4 0.04 7040 0.07 411 1:1 1644
1920 6 0.06 11520 0.12 449 1:1 2694
2080 4 0.04 8320 0.09 486 1:1 1944
2240 3 0.03 6720 0.07 523 1:1 1569
2400 61 0.61 146400 1.53 561 1:1 34221
2560 2078 20.68 5319680 55.58 598 1:1 1242644
Total 10049 100.00 9572000 100.00 5350 2236727

C) Allocation to Non Institutional Investors
The Basis of Allocation to the Non Institutional Investors, who have bid for at the Issue Price of Rs. 39/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 20.23 times. The total number of shares allotted in this category is 9,58,363 Equity Shares. The category-wise details of the Basis of Allocation are as under:

Category No. Applications % of total applications No. of shares applied %  of total shares bid No. of shares Allocated Ratio Total no. of
shares allocated
2720 1 2.56 2720 0.01 160 1:1 160
3520 1 2.56 3520 0.02 174 1:1 174
4000 1 2.56 4000 0.02 198 1:1 198
7200 1 2.56 7200 0.04 356 1:1 356
7520 2 5.13 15040 0.08 372 1:1 744
16640 1 2.56 16640 0.09 822 1:1 822
64000 8 20.51 512000 2.64 3163 1:1 25304
100000 1 2.56 100000 0.52 4942 1:1 4942
128320 1 2.56 128320 0.66 6342 1:1 6342
160000 1 2.56 160000 0.83 7908 1:1 7908
166720 1 2.56 166720 0.86 8240 1:1 8240
192000 1 2.56 1.92000 0.99 9489 1:1 9489
200000 1 2.56 200000 1.03 9885 1:1 9885
256000 1 2.56 256000 1.32 12652 1:1 12652
256480 1 2.56 256480 1.32 12676 1:1 12676
743520 2 5.13 1487040 7.67 36747 1:1 73494
769280 1 2.56 769280 3.97 38020 1:1 38020
769600 2 5.13 1539200 7.94 38036 1:1 76072
897600 2 5.13 1795200 9.26 44362 1:1 88724
974240 1 2.56 974240 5.02 48150 1:1 48150
1025600 3 7.69 3076800 15.87 50688 1:1 152064
1100000 1 2.56 1100000 5.67 54365 1:1 54365
1282080 2 5.13 2564160 13.22 63364 1:1 126728
1500000 1 2.56 1500000 7.74 74134 1:1 74134
2564000 1 2.56 2564000 13.22 126720 1:1 126720
Total 39 100.00 19390560 100.00 651965 958363

D) Allocation to Qualified Institutional Buyers

Category Fls/Bank MFs Fits Insurance Companies Venture Capitals Others Total
Number of
Shares
- - 43,66,560 - - - 43,66,560

The Board fo Director of the Company at their meeting held on 19/12/2006 has adopted basis of allocation of share as approved by the BSE and has allotted the shares to the various succesful applicants.

The dispatch of Refund orders, allotment intimations and RTGS/ECS intimation has been completed as on 21/12/2006. 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 printed with the Bank mandate details as registered, if any with the depositories. The credit in respect of allotment in dematerialised form in Central Depositiory Services India Limited (CDSL) & National Securities Depository Limited (NSDL) to the valid beneficiary accounts have been completed as on 21/12/2006. Applications have been made to BSE & NSE for obtaining listing & trading permission.

INVESTORS PLEASE NOTE

All future correspondence in this regard may kindly be addressed to the Registrar to the Issue i.e; Bigshare Services Pvt. Ltd., 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 Race where the bid was submitted and payment details at the address given below:

KEYNOTE
CORPORATE SERVICES LTD

KEYNOTE CORPORATE SERVICES LIMITED
307, Regent Chambers, Nariman Point,
Mumbai - 400 021
Tell: +91 22 2202 5230
Fax: +91 22 2283 5467
Website: www.keynoteindia.net
E-mail: mbd@keynoteindia.net

BIGSHARE SERVICES PRIVATE LIMITED
E-2, Ansa Industrial Estate, Sakivihar Road,
Saki Naka, Andheri (E), Mumbai-400 072
Tel No.: +91- 022-28470652;
Fax No.:+91 -022- 28475207
E-mail: ipo@bigshareonline.com
Website: www.bigshareonline.com
SEBI Regn. No.: INR000001385
Contact Person : Subodh M. Adarkar
Place: Mumbai
Date: 22/12/2006

For NISSAN COPER LIMITED
Sd/-
Rahul Singh
Company Secretary & Compliance Officer

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 NISSAN COPPER.LIMITED

Nissan Copper IPO Basis of Allotment FAQs

Check the basis of allotment document above to know about how the shares are allocated in Nissan Copper IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).

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

Visit the Nissan Copper IPO allotment status page to check the number of shares allocated to your application.

Check the basis of allotment document above to know about how the shares are allocated in Nissan Copper IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).