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Precision Pipes IPO Details

Issue Open Dec 17, 2007
Issue Close Dec 20, 2007
IPO Price ₹150
Face Value ₹10
IPO Size ₹75.00 Cr
Listing At BSE, NSE
IPO Lot Size 45

PRECISION PIPES AND PROFILES COMPANY LIMITED

Originally incorporated as a partnership firm in the name and style of Precision Pipes and Profiles Company on 3rd April, 1978 having office of the firm at 4498, Raja Patni Street, Pahari Dhiraj, Sadar Bazar, Delhi. Our firm was converted into a Public Limited Company, w.e.f 18th October, 1995 under Part IX, of the Companies Act 1956 with the Registrar of Companies, NCT of Delhi & Haryana, with the name of Precision Pipes and Profiles Company Limited vide registration no. 55-073281. We got the Certificate for Commencement of business as on 1st November 1995.

Registered Office: 4561, Deputy Ganj, Sadar Bazar, Delhi-110 006, Tel: +9111 2361 2204, Fax: +91 11 2353 6205 Corporate Office: 13th Floor, Gopal Das Bhawan, 28, Barakhamba Road, Connaught Place, New Delhi-110 001
Tel: 91 11 2373 0505, Fax: 91 11 2332 4113 Website: www.precisionpipes.com E-mail: ipo@precisionpipes.com Contact Person: Mr. Rama Kant, Company Secretary & Compliance Officer

PUBLIC ISSUE OF 5,000,000 EQUITY SHARES OF RS. 10/-EACH FOR CASH AT A PRICE OF RS. 150 PER EQUITY SHARE, INCLUDING SHARE PREMIUM OF RS. 140 PER EQUITY SHARE AGGREGATING RS. 7500 LACS BY PRECISION PIPES AND PROFILES COMPANY-LIMITED ('THE COMPANY' OR 'THE ISSUER'). THE NET ISSUE TO THE PUBLIC WOULD CONSTITUTE 35.71% OF THE FULLY DILUTED POST ISSUE PAID UP CAPITAL OF THE COMPANY.
ISSUE PRICE: Rs. 150 PER EQUITY SHARE OF FACE VALUE RS. 10/-THE ISSUE PRICE IS 15 TIMES OF THE FACE VALUE

This Issue is being made through a 100% Book Building Process wherein up to 50% of the Net Issue to the Public will be allocated to Qualified Institutional Buyers ('QIBs') on a proportionate basis. Out of which 5% will be available on a proportionate basis to Mutual Funds only. The remainder shall be available for allocation on a proportionate basis to all QIBs including Mutual Fund. Further, not less than 15% of the Net Issue shall be available for allocation on a proportionate basis to Non Institutional Bidders and not less than 35% of the Net Issue 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 Issue received 100709 applications for 52957350 equity shares resulting in 10.5915 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Investor categories are as under: (Before technical rejections):

Category No. of Applications No. of Shares Subscription
Qualified Institutional Buyers 21 13484790 5.3939
Non Institutional Investors 158 6196230 8.2616
Retail Investors 100530 33276330 19.0150

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

Bid Price No. of Shares % to Total Cumulative Total Cumulative % to Total
140 180090 0.3242 55545615 100.0000
141 2070 0.0037 55365525 99.6758
142 2880 0.0052 55363455 99.6721
143 1935 0.0035 55360575 99.6669
144 720 0.0013 55358640 99.6634
145 148230 0.2669 55357920 99.6621
146 1485 0.0027 55209690 99.3952
147 3780 0.0068 55208205 99.3926
148 10890 0.0196 55204425 99.3857
149 450 0.0008 55193535 99.3661
150 21889035 39.4073 55193085 99.3653
CUTOFF 33304050 59.9580 33304050 59.9580
TOTAL 55545615

The Basis of Allotment for all the categories namely Retail Individual Investors, Non Institutional Investors and Qualified Institutional Buyers was finalised in consultation with Bombay Stock Exchange Limited (Designated Stock Exchange) on 02 January 2008.

A. Allotment to Retail Investors (After Technical Rejections)
All the bidders in the Retail Investors, who have bid at cut-off or at the Issue Price of Rs. 150/- per Equity Share, have been considered while preparing the Basis of Allotment. The category was over subscribed 18.839623 times. The total number of shares allotted in this category is 1750005 Equity Shares. The category-wise details of the Basis of Allotment are as under:

Category
(No. of shares)
No. of
Applns.
% to Total Total No.of
Shares Applied
% to
Total
No. of
Shares
Allocated
Ratio Total No. of
Shares
Allocated
45 15227 15.33 685215 2.08 45 5:94 36540
90 11564 11.64 1040760 3.16 45 5:47 55395
135 6758 6.8 912330 2.77 45 15:94 48510
180 7287 7.33 1311660 3.98 45 10:47 69750
225 4394 4.42 988650 3 45 25:94 52605
270 3176 3.2 857520 2.6 45 15:47 45630
315 9510 9.57 2995650 9.09 45 35:94 159345
360 3935 3.96 1416600 4.3 45 20:47 75330
405 961 0.97 389205 1.18 45 45:94 20700
450 2464 2.48 1108800 3.36 45 25:47 58995
495 662 0.67 327690 0.99 45 55:94 17415
540 895 0.9 483300 1.47 45 30:47 25695
585 750 0.75 438750 1.33 45 65:94 23355
630 31767 31.97 20013210 60.7 45 23:31 1060740

B. Allotment to Non Institutional Investors (After Technical Rejections)
All the bidders in the Non-Institutional Investors, who have bid at the Issue Price of Rs. 150/- per Equity Share, have been considered while preparing the Basis of Allotment. The category wise over subscribed 8.186280 times. The total number of shares allocated in this category is 749995 Equity Shares. The category-wise details of the Basis of Allotment are as under (Sample):

Category
(No. of Shares)
No. of Applns. % to Total Total No. of Shares Applied % to Total No. of
Shares
Allocated
Ratio Total No. of Shares Allocated
675 13 10 8775 0.14 82 FIRM 1066
720 8 6.15 5760 0.09 88 FIRM 704
765 1 0.77 765 0.01 93 FIRM 93
810 1 0.77 810 0.01 99 FIRM 99
1260 1 0.77 1260 0.02 154 FIRM 154
1350 2 1.54 2700 0.04 165 FIRM 330
1440 2 1.54 2880 0.05 176 FIRM 352
1800 2 1.54 3600 0.06 220 FIRM 440
1890 2 1.54 3780 0.06 231 FIRM 462
4500 2 1.54 9000 0.15 550 FIRM 1100
5355 1 0.77 5355 0.09 654 FIRM 654
6030 1 0.77 6030 0.1 737 FIRM 737
6660 2 1.54 13320 0.22 814 FIRM 1628
6705 2 1.54 13410 0.22 819 FIRM 1638
6750 2 1.54 13500 0.22 825 FIRM 1650
6975 1 0.77 6975 0.11 852 FIRM 852
24030 1 0.77 24030 0.39 2935 FIRM 2935
31500 1 0.77 31500 0.51 3848 FIRM 3848
33300 2 1.54 66600 1.08 4068 FIRM 8136
66645 1 0.77 66645 1.09 8141 FIRM 8141
66690 1 0.77 66690 1.09 8147 FIRM 8147
67500 1 0.77 67500 1.1 8246 FIRM 8246
99990 1 0.77 99990 1.63 12214 FIRM 12214
199980 1 0.77 199980 3.26 24429 FIRM 24429
299970 1 0.77 299970 4.89 36642 FIRM 36642
666630 2 1.54 1333260 21.72 81433 FIRM 162866
1666665 2 1.54 3333330 54.29 203591 FIRM 407182

C. Allotment to QIBs
Allotment to QIBs has been done on a proportionate basis in consultation with BSE.

Category Financial Institution/Banks Mutual Funds Foreign tnstituttonat investors Venture Capitals Insurance Companies Total
Shares Allotted 533311 642587 1324102 - - 2500000

Dates of despatch of Refund Orders, Credit to Beneficiary Accounts, Refund instructions and Listing details

Activity Date of Completion
Approval of Basis of Allotment by BSE 02nd January, 2008
Despatch of Allotment Advices, Refund Orders and ECS Intimation Note On or before 04th January, 2008
Refund Instructions to the Clearing System (in case of Refunds through ECS system) On or before 04th January, 2008
Listing Application to BSE & NSE 04th January, 2008
Credit to Beneficiary Accounts On or before 04th January, 2008

Refunds have been made through ECS, Direct credit, RTGS and NEFT, into the Bank Accounts of the applicants, as registered with the depositories, for applicants residing at any of the 15 centres specified by SEBI. For other applicants Refund Orders have been despatched to their address as registered with the depositories. In case the same is not received within ten days, applicants may contact at the address given below. ECS Intimation Note and Refund Orders have been over-printed with the Bank Mandate details as registered, if any, with the depositories. The Equity Shares allotted to successful applicants have been credited to their beneficiary accounts.
The company is taking steps to get the equity shares admitted for trading on Bombay Stock Exchange Limited and National Stock Exchange of India Limited within seven working days from the date of approval of the basis of allotment.

INVESTORS PLEASE NOTE
The details of the allotment made would be hosted on the website of Registrars to the Issue, Intime Spectrum Registry Limited at www.intimespectrum.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, 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:

Intime Spectrum Registry Limited
C-13, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup
(West), Mumbai - 400 078
Tel.: + 91-22-2596 0320 Fax: + 91-22-2596 0329
Email: ppap.ipo@intimespectrum.com
Website: www.intimespectrum.com
Contact Person: Mr. Sachin Achar

Place: Mumbai
Date : 07th January, 2008
For Precision Pipes and Profiles Company Limited
On behalf of the Board of Directors
Sd/-
Chairman

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUfTY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF PRECISION PIPES AND PROFILES COMPANY LIMITED

Precision Pipes IPO Basis of Allotment FAQs

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

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

Visit the Precision Pipes 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 Precision Pipes IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).