Raj Oil Mills IPO Details

Issue Open Jul 20, 2009
Issue Close Jul 23, 2009
IPO Price ₹120
Face Value ₹10
IPO Size ₹114.00 Cr
Listing At BSE, NSE
IPO Lot Size 50

RAJ OIL MILLS LIMITED

(Incorporated as Raj Oil Mills Limited on October 17, 2001 in Mumbai under the Companies Act, 1956 vide Registration no. 11-133714 (CIN: U151424MH2001PLC133714) and received certificate of Commencement of Business on November 6,2001.)
Registered Office: 224 - 230, Bellasis Road, Mumbai, - 400008, Maharashtra, India. Tel. No. +91 22 2302 1996-98 Fax No. +91 22 2301 5605, Contact Person: Mr Alok Desai, Company Secretary and Compliance Officer, E-mail: ipo@rajoilmillsltd.com, Website: www.rajoilmillsltd.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 95,00,000 EQUITY SHARES OF RS. 10 EACH ("EQUITY SHARES") FOR CASH AT A PRICE OF RS.120/- PER EQUITY SHARE, INCLUDING A SHARE PREMIUM OF RS. 110/- PER EQUITY SHARE, AGGREGATING RS.11400.00 LACS (THE "ISSUE"). THE ISSUE WOULD CONSTITUTE 26.38% OF THE FULLY DILUTED POST- ISSUE PAID UP CAPITAL OF OUR COMPANY
THE FACE VALUE PER EQUITY SHARE IS RS. 10/- EACH. THE ISSUE PRICE OF THE EQUITY SHARES IS RS. 120 PER EQUITY SHARE WHICH IS 12 TIMES THE FACE VALUE OF THE EQUITY SHARES.

The Issue is being made through the 100% Book Building Process wherein upto 50% of the Net Issue to the public was to be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs") (including 5% of the QIB portion that would be specifically reserved for Mutual Funds). Further, not less than 15% of the Net Issue was to be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue was to be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price.
Our Company wishes to thank all the Investors for their response to the Public Issue which opened for subscription on July 20,2009 and closed on July 23,2009. The Issue received 7,188 applications for 1,10,53,470 Equity Shares (after cheque return) resulting in 1.1635 times subscription. The details of the applications received in the Issue from QIBs, Non-Institutional Bidders and Retail Individual Bidders categories are as under: (Before Technical & Multiple Rejections)

Category No. of Applications No. of shares bid Subscription
Qualified Institutional Buyers 3 35,83,000 0.7543
Non-Institutional Bidders 83 53,06,050 3.7235
Retail Individual Bidders 7102 21,64,420 0.6509
Total 7188 1,10,53,470 1.1635

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

Bid Price No. of Equity Shares % to Total Cumulative Total Cumulative % to total
100.00 117450 1.00% 11786700 100.00%
101.00 250 0.00% 11669250 99.00%
102.00 200 0.00% 11669000 98.99%
105.00 850 0.01% 11668800 98.99%
107.00 100 0.00% 11667950 98.99%
108.00 250 0.00% 11667850 98.99%
110.00 88000 0.75% 11667600 98.98%
111.00 100 0.00% 11579600 98.23%
114.00 0 0.00% 11579500 98.24%
115.00 750 0.01% 11579500 98.24%
117.00 0 0.00% 11578750 98.23%
120.00 9647050 81.85% 11578750 98.23%
9999.00 1931700 16.39% 1931700 16.38%
TOTAL 11786700 100.00%

The Basis of Allotment was finalised in consultation with the Designated Stock Exchange - Bombay Stock Exchange Limited ("BSE") on Monday, August 03,2009. Details of valid applications received and allotment done are as under:

A) Allocation to Retail Investors (After Technical Rejections)

The Basis of Allotment to the Retail Individual Bidders, who bid at the cut-off price or at the Issue Price of Rs. 120/- per Equity Share, was finalized in consultation with the BSE. The Company received 6,744 valid applications for 21,23,700 Equity Shares in this category resulting in 0.6387 times subscription. After taking into consideration spillover of 8,16,900 Equity Shares from QIB category, the total number of Equity Shares allotted in this category is 21,23,700 which amounts to 0.5127 times subscription. The category wise details of the Basis of Allotment are given below.

Category No. of Applns. % to Total Total No. of Equity Shares Applied % to Total No. of
Equity Shares Allocated
Ratio Total No. of Equity Shares Allocated
50 2268 33.63 113400 5.34 50 FIRM 113400
100 1162 17.23 116200 5.47 100 FIRM 116200
150 287 4.26 43050 2.03 150 FIRM 43050
200 489 7.25 97800 4.61 200 FIRM 97800
250 141 2.09 35250 1.66 250 FIRM 35250
300 111 1.65 33300 1.57 300 FIRM 33300
350 17 0.25 5950 0.28 350 FIRM 5950
400 229 3.40 91600 4.31 400 FIRM 91600
450 31 0.46 13950 0.66 450 FIRM 13950
500 94 1.39 47000 2.21 500 FIRM 47000
550 5 0.07 2750 0.13 550 FIRM 2750
600 15 0.22 9000 0.42 600 FIRM 9000
650 7 0.10 4550 0.21 650 FIRM 4550
700 3 0.04 2100 0.10 700 FIRM 2100
750 4 0.06 3000 0.14 750 FIRM 3000
800 1881 27.89 1504800 70.86 800 FIRM 1504800

B) Allocation to Non Institutional Bidders (After Technical Rejections)
The Basis of Allotmentto the Non Institutional Bidders, who bid at the Issue Price of Rs. 120 per Equity Share, was finalized in consultation with the BSE. The Company received 78 valid applications for 52,95,350 Equity Shares in this category resulting in 3.7160 times subscription. After taking into consideration spillover of 3,50,100 Equity Shares from QIB category and 20,18,200 Equity Shares from Retail category, the total number of Equity Shares allotted in this category is 37,93,308 Equity Shares and this amounts to 1.3959 times subscription. The category wise details of the Basis of Allotment are given below:

Category No. of Applns. % to Total Total No. of Equity Shares Applied % to Total No. of Equity Shares Allocated Ratio Total No. of Equity Shares Allocated
900 1 1.28 900 0.02 645 FIRM 645
1000 2 2.56 2000 0.04 716 FIRM 1432
1500 1 1.28 1500 0.03 1075 FIRM 1075
1600 1 1.28 1600 0.03 1146 FIRM 1146
1850 1 1.28 1850 0.03 1325 FIRM 1325
2000 1 1.28 2000 0.04 1433 FIRM 1433
2500 4 5.13 10000 0.19 1791 FIRM 7164
3750 1 1.28 3750 0.07 2686 FIRM 2686
4000 2 2.56 8000 0.15 2865 FIRM 5730
4150 3 3.85 12450 0.24 2973 FIRM 8919
5000 4 5.13 20000 0.38 3582 FIRM 14328
7500 1 1.28 7500 0.14 5373 FIRM 5373
8000 1 1.28 8000 0.15 5731 FIRM 5731
8300 4 5.13 33200 0.63 5946 FIRM 23784
10000 3 3.85 30000 0.57 7163 FIRM 21489
10200 1 1.28 10200 0.19 7307 FIRM 7307
10400 3 3.85 31200 0.59 7450 FIRM 22350
15000 1 1.28 15000 0.28 10745 FIRM 10745
16000 5 6.41 80000 1.51 11462 FIRM 57310
16650 1 1.28 16650 0.31 11927 FIRM 11927
20000 2 2.56 40000 0.76 14327 FIRM "8654
20800 3 3.85 62400 1.18 14900 FIRM 44700
25000 2 2.56 50000 0.94 17909 FIRM 35818
37500 1 1.28 37500 0.71 26863 FIRM 26863
41650 8 10.26 333200 6.29 29836 FIRM 238688
42000 1 1.28 42000 0.79 30087 FIRM 30087
66650 2 2.56 133300 2.52 47744 FIRM 95488
75000 1 1.28 75000 1.42 53726 FIRM 53726
83300 2 2.56 166600 3.15 59672 FIRM 119344
83500 1 1.28 83500 1.58 59815 FIRM 59815
100000 1 1.28 100000 1.89 71635 FIRM 71635
138300 1 1.28 138300 2.61 99071 FIRM 99071
166650 1 1.28 166650 3.15 119379 FIRM 119379
167500 1 1.28 167500 3.16 119988 FIRM 119988
228300 1 1.28 228300 4.31 163542 FIRM 163542
249800 1 1.28 249800 4.72 178943 FIRM 178943
249850 1 1.28 249850 4.72 178979 FIRM 178979
249900 1 1.28 249900 4.72 179015 FIRM 179015
250000 2 2.56 500000 9.44 179086 FIRM 358172
292450 1 1.28 292450 5.52 209495 FIRM 209495
299150 1 1.28 299150 5.65 214295 FIRM 214295
334150 1 1.28 334150 6.31 239367 FIRM 239367
1000000 1 1.28 1000000 18.88 716345 FIRM 716345

C) Allocation to QIBs
Allocation to QIBs was done on a proportionate basis. As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available (237500 Equity Shares). However due to under subscription in the said category, full and firm allotment have been made in the QIB. category.

Category MFs Flls VC's Total
No. of Shares 3583000 - - 3583000

The IPO Committee of the Board at a meeting held in Mumbai, on August 04,2009 approved the Basis of Allotment of Equity Shares in the issue and recommended the allotment of Equity Shares to successful applicants.

The CAN-cum-Refund Orders and ECS/RTGS Intimation has been dispatched to the address of the investors as registered with the depositories. In case the same are not received within ten days, investors may contact the Registrar to the Issue 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 the 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 the National Stock Exchange of India Limited and Bombay Stock Exchange Limited within seven working days from the date of approval of Basis of Allotment.

INVESTORS PLEASE NOTE
These details of the allocation will also be available on the website of the Registrar to the Issue, Bigshare Service Private Limited, at http://www.bigshareonline.com All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting the full name of the First/Sole applicants, 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:

Bigshare Services Private Limited
E-2,Ansa Industrial Estate, SakiVihar Road, Sakinaka,Andheri[E],Mumbai-400072
Phone: (91-22)4043 0200; Fax: (91-22) 2847 5207, Email:iporaj@bigshareonline.com
Website: www.bigshareonline.com, Contact Person: Mr. Ashok Shetty

Place: Mumbai
Date: August 06,2009
For Raj Oil Mills Limited
Sd/-
Chairman & Managing Director

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 RAJ OIL MILLS LIMITED.

Raj Oil Mills IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Raj Oil Mills IPO?

    Check the basis of allotment document above to know about how the shares are allocated in Raj Oil Mills 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 Raj Oil Mills IPO basis of allotment status?

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

    Visit the Raj Oil Mills IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Raj Oil Mills IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Raj Oil Mills 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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