Issue Open | Mar 11, 2010 |
Issue Close | Mar 15, 2010 |
IPO Price | ₹110 |
Face Value | ₹10 |
IPO Size | ₹116.60 Cr |
Listing At | BSE, NSE |
IPO Lot Size | 60 |
PRADIP OVERSEAS LIMITED (Originally formed as a partnership firm in the name and style of M/s. Vishal Textiles vide partnership deed dated April 13,2005. The name of the firm was changed from M/s. Vishal Textiles to M/s. Chetan Textiles vide supplementary deed of partnership dated June 15,2005. Subsequently the partnership firm was converted into a company on June 29,2005 under part IX of the Companies Act, 1956 as "Chetan Textiles Private Limited" with CIN U17100GJ2005PTC046345. Our Company was converted into a public limited company vide fresh certificate of incorporation dated August 09,2006. The name of our Company was subsequently changed to "Pradip Overseas Limited" vide fresh certificate of incorporation dated October 01,2007. Our Company has been allocated CIN U17100GJ2005PLC046345. For details of changes to our Registered Office, please refer chapter titled "History and Other Corporate Matters" beginning on page 118 of the Prospectus.) Registered and Corporate Office: A/601, Narnarayan Complex, Near
Swastik Cross Roads, Navrangpura, Ahmedabad - 380 009, Gujarat, India. BASIS OF ALLOTMENT PUBLIC ISSUE OF 1,06,00,000 EQUITY SHARES OF RS. 10 EACH AT A PRICE OF RS. 110 PER EQUITY SHARE FOR CASH AGGREGATING RS. 116,60.00 LACS (THE "ISSUE"), BY PRADIP OVERSEAS LIMITED (THE "COMPANY" OR THE "ISSUER"). THE ISSUE COMPRISES 5,00,000 EQUITY SHARES OF RS. 10 EACH RESERVED FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES AND A NET ISSUE TO THE PUBLIC OF 1,01,00,000 EQUITY SHARES OF RS. 10 EACH. THE ISSUE WILL CONSTITUTE 26.26% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF OUR COMPANY. THE NET ISSUE TO PUBLIC WILL CONSTITUTE 25.02% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF OUR COMPANY. BID/ISSUE OPENED ON MARCH 11,2010, CLOSED ON MARCH 15,2010 The Equity Shares of the Company are proposed to be listed on Bombay Stock Exchange Limited ("BSE") and the National Stock Exchange of India Limited ("NSE") and the trading is expected to commence on or about April 05th, 2010 THE FACE VALUE PER EQUITY SHARE IS RS.10/-. THE ISSUE PRICE PER EQUITY SHARE IS RS. 110/- AND IT IS 11 TIMES THE FACE VALUE. This Issue is being made through a 100% Book Building Process, wherein, subject to
valid Bids being received at or above the Issue Price in each of the below categories: (i)
upto 50% (subject to mandatory allotment of minimum 10% of the Net Issue size to QIBs) of
the Net Issue to the Public shall be available for allocation on a proportionate basis to
QIBs(of which 5% will be available for allocation on a proportionate basis to Mutual Funds
only, and Mutual Fund Bidders shall also be eligible for proportionate allocation under
the balance portion available forthe QIBs); (ii) atleast 15% of the Net
Issue shall be available for allocation on a proportionate basis to Non Institutional
Bidders; (iii) atleast 35% of the Net Issue shall be available for
allocation on a proportionate basis to Retail Individual Bidders; (iv) up
to 5,00,000 Equity Shares shall be available for allocation on a proportionate basis to
the Eligible Employees; This Issue is being made in terms of sub-clause (ii) of clause (a)
and sub-clause (i) of clause (b) of sub-regulation (2) of Regulation 26, of the SEBI
(ICDR) Regulations, 2009 wherein the "Project" has atleast 15% participation by
financial institutions/ scheduled commercial banks, of which atleast 10% comes from the
appraiser(s). In addition to this, atleast 10% of the Net Issue shall be Allotted to QIBs,
failing which the full subscription monies shall be refunded
Final Demand
The Basis of Allocation was finalized in consultation with the Designated Stock Exchange, being the Bombay Stock Exchange Limited ("BSE") on March 25,2010. A. Allocation to Employee Investors including ASBA Bidders (After Technical
Rejections)
B. Allocation to Retail Individual Investors including ASBA Bidder (After Technical
Rejections)
C. Allocation to Non Institutional Investors including ASBA Bidders (After Technical
Rejections)
D. Allocation to QIBs
The Board of Directors of the company at its Meeting held at Ahmedabad on March 26,2010 has approved the basis of allocation of shares of the Issue and has allocated the shares to various successful applicants. The CAN-cum-Ref und Orders and allocation advice and notices have been dispatched to
the address of the investors as registered with the depositories on March 27,2010. 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
have been credited to their beneficiary accounts subject to validation of the account
details with the depositories concerned. The company has taken steps to get the equity
shares admitted for trading on Bombay Stock Exchange Limited and the National Stock
Exchange of India Limited within seven working days from the date of approval of the basis
of allocation. The Company has filed the listing application on March 29,2010 and the
trading is expected to commence on April 05,2010. Further the instructions to Self
Certified Syndicate Banks have been given on March 26,2010. INVESTORS PLEASE NOTE Link intime india private limited
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The Pradip Overseas IPO basis of allotment (published above) tells you how shares are allocated to you in Pradip Overseas IPO and category wise demand of IPO share.
Visit the Pradip Overseas IPO allotment status page to check the number of shares allocated to your application.
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