Power Mech Projects IPO Details

Issue Open Aug 7, 2015
Issue Close Aug 11, 2015
IPO Price ₹640
Face Value ₹10
IPO Size ₹273.22 Cr
Listing At BSE, NSE
IPO Lot Size 20

POWER MECH PROJECTS LIMITED

Not for release in The United States. This is only an advertisemant For information purpose. This is not a Prospectus announcement and does not constitute an invitation or offer to acquire, purchase or subscribe far securities. Not for publication or distribution, directly or indirectly outside India.

Our Company was originally incorpora              ted on July 22.1999 as a private limited company under the Companies Act 1956, by the name "Power Mech-Projects, Private Limited" On September 28, 2007, our Company was converted into public limited company pursuant to which the name was changed to "Power Mech Projects Limited" and a Fresh certificate of incorporation was issued on October 16, 2007, Further, on September 15, 2010, our name was changed from "Power Mech-Projects Limited" to "Power Mech Projects Limited"' and a fresh certificate of incorporation was issued pursuant to change of name on November 1, 2010, For details of change in name and the registered office of our company, see "History and Corporate Structure" on page 155 of the prospectus dated August 13, 2015 filled with the registrar of companies, Andhra Pradesh and Telangana at Hyderabad ("Prospectus")

Registered Office: Plot No. 77, Jubilee Enclave, Opposite Hitex. Madhapur, Hyderabad 500 081, Telangana. India.
Company Secretary and Compliance Officer Mohit Gurjar; Tel: +91 40 3044. 4418l; Fax: +91 40 3044 4400; Email: Compliance@powermech.net  
Website: www.powermechprojects.in  Corporate Identity Number: U7414DTG1W9PLC032156

PUBLIC ISSUE OF 4,269,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH (THE "EQUITY SHARES") OF POWER MECH PROJECTS LIMITED, (THE "COMPANY" OR THE "ISSUER1) FOR CASH AT A PRICE OF RS 640 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 630 PER EQUITY SHARE) AGGREGATING TO RS 2,732.16 MILLION CONSISTING OF A FRESH ISSUE OF 2,128,000 EQUITY SHARES AGGREGATING TO RS 1,361.92 MILLION BY OUR COMPANY (THE "FRESH ISSUE") AND AN OFFER FOR SALE OF 2,141,000 EQUITY SHARES BY THE SELLING SHAREHOLDERS (AS DEFINED IN 'DEFINITIONS AND ABBREVIATIONS" ON PAGE & OF THE PROSPECTUS) AGGREGATING TO RS 1,370.24 MILLION (THE "OFFER FOR SALE"AND THE FRESH ISSUE ARE TOGETHER REFERRED TO AS, THE "ISSUE"). THE ISSUE CONSTITUTES 29.02% OF THE FULLY DILUTED POST ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.

THE EQUITY SHARES ARE PROPOSED TO BE LISTED ON BSE LIMITED ("BSE") AND NATIONAL STOCK EXCHANGE OF INDIA LIMITED ("NSE") AND THE TRADING WILL COMMENCE ON OR ABOUT AUGUST 26,2015.

ISSUE PRICE: RS 640 PER EQUITY SHARE
OF FACE VALUE OF RS 10 EACH
THE ISSUE PRICE IS 64.00 TIMES THE FACE VALUE
ANCHOR INVESTOR ISSUE PRICE: RS 640 PER EQUITY SHARE

BID/ISSUE: OPENED ON AUGUST 07, 2015 * CLOSED ON AUGUST 11, 2015
ANCHOR INVESTOR BID/ISSUE PERIOD: AUGUST 6, 2015

In terms of Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended, (the "SCRR") this Issue was made for at least 25.00% of the post Issue paid-up Equity Share capital of our Company. The Issue was made through the Book. Building Process, in compliance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009. as amended ("SEBI ICDR Regulations") where 50.00% of the Issue was available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs') (the "QIB" Category'). Our Company and :the Selling Shareholders had, in consultation with the Book Running Lead Mangers, allowed 60.00% Of the QIB Category to Anchor investors, On a discretionary basis (the "Anchor investor Portion"),of which one-third was reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor investor Allocation Price. Further. 5.00% of the QIB Category (excluding theAnchor Investor Portion) was available for allocation on a proportionate basis to Mutual fund only. The remainder was available for allocation on a proportionate basis to QIBs and Mulual Funds, subject to valid Bids being received from them at or above the Issue Price. Further, not lass than 15.00% of the Issue was avaiable for allocation on a proportional basis to Non-Jnstitutianal Investors and not less than 35.00% of the Issue was available for allocation to Retail Individual Investors, in accordence with the SEBI ICDR Regulation, subject to valid Bids being received at or the Issue price. Retail Individual Investors may participate in this Issue through the ASBA process by providing details of the ASBA Accounts in which the corresponding Bid Amounts will be blocked by theSCSBs. QIBs {excluding Anchor Investors) and Non-Institutional Investors were required to participate in the Issue only through the ASBA process. Anchor Investors were not permitted to  participate in the Anchor Investor Portion through the ASBA process. For details, see "Issue Procedure" on Page 473 of the Prospectus.

The Issue received 200,916 Application tor 111 ,926.360 Equity Shanes before technical rejections) resulting in 26.22 times subscription. The details of the Applications received in the Issue from various categories are as under: (Before technical rejections)

SI
no
Category No. of
Applications
No. of
Equity Shares
Shars
Reserved
No-of
times
Subscribed
A Retail individual Bidders 200707 5,060,460 1,494,150 3.39
B Non Institutional Bidders 146 81,592,560 640,350 127.42
C Qualifies Institutional Bidders (Excluding Anchors) 53 23,499,760 853,800 27 52
D Anchor Investors 10 1,773,180 1,280,700 1.38
Total 200916 111,926,360 4,269,000 26.22

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
615 60,460 0.05 60,450 0.05
616 1,160 0.00 61,620 0.05
617 300 0.00 61,920 0.05
618 520 0.00 62,440 0.05
619 100 0.00 62,540 0.05
620 7,800 0.01 70,340 0.06
621 80 0.00 70,420 0.06
622 360 0.00 70,780 0.06
623 80 0.00 70,860 0.06
624 40 0.00 70,900 0.06
625 8,680 0.01 79,580 0.07
626 20 0.00 79,600 0.07
627 40,320 0.04 119,920 0.11
628 180 0.00 120,100 0.11
629 20 0.00 120,120 0.11
630 7,140 0.01 127,260 0.11
631 220 0.00 127,480 0.11
632 40 0.00 127,520 0.11
633 0 0.00 127,520 0.11
634 0 0.00 127,520 0.11
635 2,140 0.00 129.660 0.11
636 80 0.00 129,740 0.11
637 0 0.00 129,740 0.11
538 180 0.00 129,920 0.11
639 160 0.00 130,080 0.11
640 109,102,620 95.67 109,232,700 95.78
CUTOFF 4,806,820 4.22 114,039.520 100.00
TOTAL 114,039,520 100.00

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE on Augusl 20,2015.

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

The Basis of Allotrnent to tha Retail Individual Investors, who have Bid at Cut-off Price or at tha Issue Price of Rs 640 per Equity Share was finalized in consultation with BSE The category has been subscribed to the extent of 3.330576 times. The total number of Equity Shares Allotted in this category is 1,494,150 Equity Shares to 74,707 successful applicants. The category-wise details of the Basis of Allotment are as under:

Category No. of
Applications
Received
% to
Total
Total No
of Equity
Shares applied
% to
Total
No. of Equity
Shares allotted
per applicant
Ratio Total No.
of Equity
Shares allotted
20 187,787 94.29 3,735,740 75.07 20 89:236 1,408,800
40 4,481 2.26 179,240 3.60 20 23:61 33,800
60 1,474 0.74 88,440 1.78 20 23:61 11,120
30 891 0.45 71,280 1.43 20 23:61 6,720
100 1,109 0.56 110,900 2.23 20 23:61 8,360
120 266 0.13 31,920 0.64 20 23 :61 2,000
140 401 0.20 56,140 1.13 20 23:61 3,020
160 371 0 19 59,360 1.19 20 23 61 2,800
180 78 0.04 14,040 0.26 20 29:78 580
200 321 0.16 64,200 1.29 20 23:61 2,420
220 60 0.03 13,200 0.27 20 23 :60 460
240 59 0.03 14,160 0.28 20 22:59 440
260 52 0.03 13,520 0.27 20 5: 13 400
280 68 0.03 19,040 0.38 20 13:34 520
300 1,684 0.85 505,200 10.15 20 23:61 12,700
1 10:4267 10
TOTAL 198,102 100.00 4,976,380 100.00 1,494,150

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

The Basis of Allotment 1c ihe Non-Inst lulional Investors, who have BtdaMhe Issue Price of ? 640 per Equity Share, was finalized in consultation with ihe BSE. This calegory has been subscribed to the extent of 127.415726 limes. The total number of Equity Shares Allotted in this category is 640,350 Equity Shares to 130 successful eppkanls The cateqorv-wise delails of the Basis of Allotment are as und#r.

Category No. of
Applications
Received
% to
Total
Total No. of
Equity Shares applied
% to
Total
No. of Equity
Shares allotted

per applicant
Ratio Total No. of
Equity Shares allotted
320 4 2 78 1,260 0.00 20 1:4 20
360 1 0.69 360 0.00 20 1:1 20
380 1 0.69 380 0.00 20 1:1 20
400 1 0.69 400 0.00 20 1:1 20
460 1 0.69 460 0.00 20 1:1 20
480 1 0.69 480 0.00 20 1:1 20
Category No. of
Applications
Received
% to
Total
Total No. of
Equity Shares applied
% to
Total
No. of Equity
Shares allotted

per applicant
Ratio Total No. of
Equity Shares allotted
500 4 2.78 2,000 0.00 20 1:4 20
600 2 1.39 1,200 0.00 20 1:2 20
780 1 0.39 780 0.00 20 1:1 20
800 1 0.69 800 0.00 20 1:1 20
960 1 0.39 960 0.00 20 1:1 20
1000 5 3.47 5,000 0.01 20 2:5 40
1100 2 1.39 2,200 0.00 20 1:2 20
1200 2 1.39 2,400 0.00 20 1:2 20
1260 1 0.69 1,260 0.00 20 1:1 20
1400 1 0.69 1,400 0.00 20 1:1 20
1500 1 0.69 1,500 0.00 20 1:1 20
1560 3 2.03 4,680 0.01 20 2:3 40
1830 1 0.69 1,860 0.00 20 1::1 20
2000 3 2.08 6,000 0.01 20 2:3 40
2300 1 0.69 2,300 0.00 20 1:1 20
2340 1 0.69 2,340 0.00 20 1:1 20
2360 1 0.69 2,360 0.00 20 1:1 20
3000 2 1 39 6,000 0.01 24 1:1 48
3120 2 1 39 6,240 0.01 24 1:1 48
3600 1 0.69 3,600 0.00 28 1:1 28
3900 1 0.69 3,900 0.00 31 1:1 31
7000 1 0.69 7,000 0.01 55 1:1 55
7020 2 1.39 14,040 0.02 55 1:1 110
7800 6 4.17 46,800 0.06 61 1:1 366
906 1 0.69 9,060 0.01 71 1:1 71
10000 1 0.69 10,000 0.01 78 1:1 78
13260 1 0.69 13,260 0.02 104 1:1 104
14360 1 0.69 14,360 0.02 113 1:1 113
15000 1 0.69 15,000 0.02 118 1:1 118
15600 2 1.39 31,200 0.04 122 1:1 244
15620 7 4.66 109,340 0.13 123 1:1 861
15660 1 0.69 15,680 0.02 123 1:1 123
16240 1 0.69 16,240 0.02 127 1:1 127
22300 1 0.69 22,300 0.03 175 1:1 175
22600 1 0.69 22,600 0.03 177 1:1 177
23400 1 0.69 23,400 0.03 184 1:1 184
23420 1 2.08 70,260 0.09 184 1:1 552
28080 1 0.63 28,080 0.03 220 1:1 220
29220 1 0.63 29,220 0.04 229 1:1 229
29700 3 0.33 29,700 0.04 233 1:1 233
39060 1 0.63 39,060 0.05 307 1:1 307
46860 1 0.69 46,860 0.06 368 1:1 368
49280 1 0 33 49,280 0.06 387 1:1 387
52000 1 0.69 52,000 0.06 408 1:1 408
78120 5 2.08 312,480 0.38 613 1:1 2,452
156260 5 3.47 781,300 0.96 1226 1:1 6,130
175000 1 0 69 175,000 0.21 1373 1:1 1,373
293740 1 0 69 293,740 0.36 2305 1:1 2,305
312500 3 2.08 937,500 1.15 2453 1:1 7,359
390640 1 0 69 390,640 0.48 3066 1:1 3,066
400000 1 0.69 400,000 0.49 3139 1:1 3,139
480000 1 0.69 480,000 0 59 3767 1:1 3,767
625000 5 0.69 3,125,000 3.83 4905 1:1 24,525
640340 1 0.69 640,340 0.78 5026 1:1 5,026
640640 1 0.69 640,640 0.79 5028 1:1 5,028
750020 1 0.69 750,320 0.92 5886 1:1 5,886
1330000 8 5.56 10,640,000 13.04 10438 1:1 83,504
1466000 1 0 69 1,466,000 1.80 11506 1:1 11,506
1500000 1 0.69 1,500,000 1.84 11772 1:1 11,772
1562500 8 5.56 12,500,000 15.32 12263 1:1 98,104
1570000 1 0.69 1,570,000 1.92 12322 1:1 12,322
2109360 1 0.69 2,109,360 2.59 16555 1:1 16,555
2344000 2 1.39 4,687,480 5.75 16394 1:1 36,788
2850000 1 0.69 2,344,000 2.87 16396 1:1 18,396
2860000 1 0.69 2,850,000 3.49 22368 1:1 22,368
2900000 3 2.08 8,580,000 10.52 22446 1:1 67,338
2988000 3 2.08 8,700,000 10.66 22760 1:1 68,280
2988000 4 2.78 11,952,000 14.65 23415 1:1 93,660
2988300 1 0.69 2,988,300 3.66 23416 1:1 23,416
TOTAL 144 100.00 81,590,660 100.00 640,350

C. Allotment to QIBs excluding Anchor Investors (After Technical Rejections)

The Basis of Allotment to QIBs who have Bid at the Issue Price of Rs 640 per Equity Share has been done on proportionate basis in consultation with the BSE. This category has been subscribed to the extent of 27.523354 times. As per the SEBI Regulations. Mutual Funds were Allocated 5% of the Equity Shares of Net QIB Portion available i.e. 42,690 Equity Shares and other QIBs. including Mutual Funds, were Allocated the remaining available 811,110 on proportionate basis. The total number of Equity Shares allotted in the QIB category (excluding Anchor Investors Portion) is 853,800 Equity Shares, which wereallotted to 52 successful Applicants.  The category wise details of the Basis of allotment ara as under.

Category Fls/Banks MFs ICs Others FII Total
QIB 210,672 256,798 93,063 41,093 252,174 853,800

D. Allotment to Anchor Investors

Category FII/FPI MF Total
QIB 140,495 1,140,205 1,280,700

The Company and the Selling Shareholders in consultation with the BRLMs have Allocated 1,280,700 Equity Shares to 7 Anchor Investors through 10 Applications at the Anchor Investor Issue Price of Rs 640 per Equity Shares in accordance with the SEBI Regulations. This represents 6o% of the QlB Category

The IPO Committee of the Company at it's meeting hels on August 21,2015. has approved theBasis of Allotment of the Equity Shares approved by the Designated Stock Exchange, being BSE and Allotted the Equity Shares, to various, successful Applicant. The Allotmrnt Advice-cum-Refund Orders and/ or notices have been dispatched on or before August 24,2015 to the address of the investors as registered with the depositories. Further, instructions to the Self Certified Syndicate Banks have been dispatched/ mailed on Augusl 20.2015. In case Ihe same is not rsoe ved wihin ten days, inveskxs may contact Ihe Regislrar to the Issue at Ihe address given below. The Refund Orders have been over-printed with th bank Account details as registered: if any, with the depositories The corporate action to credit the Equity shares to the successful Applicants has been initiated on August 24,2015 in order to credit the equity shares on or before August 25.2015 to their beneficiary accounls 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 theNSE within twelve Working Days from the Bid/Issue Closing Date.

Note: All capitalized terms used and not defined herein shall have the respectrve meanings assigned 10 them in the Prosoectus.

INVESTORS PLEASE NOTE
These details ol the Allotment made shall be hosted on the website of Registrar to the lssue, Karvy Computershare Private Limited at www.karisma.karvy.com

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:

Karvy ComputerShare Private Limited
Karvy Selenium Tower B, Plot 31 -32, Gachibowli, Financial District, Nanakramguda. Hyderabad 500 032.
Tel: {+91 40} 6716 2222; Fax: (+ 91 40) 2300 1153: Email: einward.ris@karvy.com
Investor Grievance E-mail: powermech.ipo@karvy.com
Website: http://karisma.karvy.com Contact Person: M. Murali Krishna
SEBI Registration No.: INR00000021

Place: Hyderabad
Date : August 24,2015
For Power Mech Projects Limited
On behalf of the Board of Directors
sd/-
S Kishore Babu
Chairman Managing Director
DIN:00971313

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF POWER MECH PROJECTS LIMITED.

Power Mech Projects IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Power Mech Projects IPO?

    Check the basis of allotment document above to know about how the shares are allocated in Power Mech Projects 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 Power Mech Projects IPO basis of allotment status?

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

    Visit the Power Mech Projects IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Power Mech Projects IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Power Mech Projects 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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