RESURGERE MINES
& MINERALS INDIA LIMITED
(We were originally incorporated as 'Exfin Shipping (India) Private
Limited'' on March 24, 1987 under the Companies Act, 1956. For details of change in our
Company's name and registered office, see the section 'History and Certain Corporate
Matters' beginning on page 93 of Prospectus.)
Registered Office: 156, Maker Chambers - III, Nariman Point,
Mumbai - 400 021, Maharashtra, India.
Company Secretary and Compliance Officer: Mr. Rakesh Gupta
Telephone: +91 22 6658 2500 Fax: +91 22 6658 2511 Email: cosec@resurgere.in
Website: www.resurgere.in
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 4,450,000 EQUITY SHARES OF RS. 10/- EACH OF RESURGERE MINES &
MINERALS INDIA LIMITED ('RESURGERE' OR 'THE ISSUER' OR 'OUR
COMPANY') AT A PRICE OF RS. 270/- PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS.
260/- PER EQUITY SHARE) FOR CASH AGGREGATING RS. 1201.50 MILLION (HEREINAFTER REFERRED TO
AS 'THIS ISSUE'). THIS ISSUE COMPRISES OF RESERVATION OF 250,000 EQUITY SHARES
AGGREGATING RS. 67.50 MILLION FOR ELIGIBLE EMPLOYEES ON A COMPETITIVE BASIS AND THE
'NET ISSUE' TO THE PUBLIC OF 4,200,000 EQUITY SHARES AGGREGATING RS. 1134.00
MILLIONS. THE NET ISSUE WOULD CONSTITUTE 14.72% OF THE POST ISSUE PAID-UP CAPITAL OF OUR
COMPANY.
THE FACE VALUE PER EQUITY SHARE IS RS.10/-. THE ISSUE PRICE PER EQUITY SHARE IS RS. 270/-
AND IT IS 27 TIMES THE FACE VALUE.
The Issue was made through 100% Book Building Process wherein atleast 60% of the
net Issue was to be allocated on a proportionate basis to Qualified Institutional Buyers
('QIBs') (including 5% of the QIB portion that was to specifically be allotted
to mutual funds), further, not less than 10% of the Issue was made available for
allocation on a proportionate basis to Non-Institutional Bidders and not less than 30% of
the Issue was made available for allocation on a proportionate basis to Retail Bidders,
subject to valid bids being received at or above the Issue Price. Further upto 2,50,000
equity shares was made available for allocation on a proportionate basis to eligible
employees, subject to valid bids being received at or above the issue price.
The Issue received 4176 applications for 5057080 equity shares resulting in 1.1364
times subscription. The details of the applications received in the Issue from Qualified
Institutional Buyers, Non-Institutional, Retail Individual Investor and Employee
categories are as under: (Before technical rejections)
Category |
No. of Applications |
No. of Shares |
Subscription |
Qualified Institutional Buyers |
9 |
3376760 |
1.3400 |
Non Institutional Investors |
38 |
990300 |
2.3579 |
Retail Individual Investors |
4112 |
439920 |
0.3491 |
Employee |
17 |
250100 |
1.0004 |
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 |
263 |
82660 |
1.5797 |
5232520 |
100.0000 |
264 |
80 |
0.0015 |
5149860 |
98.4203 |
265 |
120 |
0.0023 |
5149780 |
98.4187 |
267 |
240 |
0.0046 |
5149660 |
98.4164 |
268 |
14940 |
0.2855 |
5149420 |
98.4119 |
270 |
4220 |
0.0806 |
5134480 |
98.1263 |
272 |
4720700 |
90.2185 |
5130260 |
98.0457 |
CUTOFF |
409560 |
7.8272 |
409560 |
7.8272 |
TOTAL |
5232520 |
100.0000 |
|
|
The Basis of Allocation was finalized in consultation with the National Stock Exchange
of India Limited on 26th August, 2008.
A. Allocation to Employees (After Technical Rejections)
The Basis of Allocation to the Employees, who have bid at cut-off or at the Issue Price of
Rs. 270/- per Equity Share was finalized in consultation with NSE . The category was over
subscribed 1.000400 times. The total number of Equity Shares allotted in this category is
250000 Equity Shares to 17 successful applicants. The category wise details of the Basis
of Allocation are as under:
Category |
No. of Applns. |
% to total |
Total No. of Shares applied |
% to total |
No. of Shares allocated per applicant |
Ratio |
Total No. of Shares allocated |
100 |
1 |
5.88 |
100 |
0.04 |
100 |
FIRM |
100 |
12500 |
10 |
58.82 |
125000 |
49.98 |
12495 |
FIRM |
124950 |
15000 |
5 |
29.41 |
75000 |
29.99 |
14994 |
FIRM |
74970 |
50000 |
1 |
5.88 |
50000 |
19.99 |
49980 |
FIRM |
49980 |
B. Allocation to Retail Individual Investors (After Technical Rejections)
The Basis of Allocation to Retail Individual Investors, who have bid at cut-off or at the
Issue Price of Rs. 270/- per Equity Share, was finalized in consultation with NSE . The
category was under subscribed 0.343984 times. The total number of equity shares allotted
in this category is 433420 to 3993 successful applicants and The Unsubscribed portion is
spilled over to Non Institutional Investors category (546580 Equity shares) and is spilled
over to QIB category (280000 Equity Shares). The category-wise details of Basis of
Allocation are as under:
Category |
No. of
applns. |
% to
total |
Total No. of
Share applied |
% to
total |
No. of Share
allocated per applicant |
Ratio |
Total No. of
Shares allocated |
20 |
2420 |
60.61 |
48400 |
11.17 |
20 |
FIRM |
48400 |
40 |
261 |
6.54 |
10440 |
2.41 |
40 |
FIRM |
10440 |
60 |
79 |
1.98 |
4740 |
1.09 |
60 |
FIRM |
4740 |
80 |
51 |
1.28 |
4080 |
0.94 |
80 |
FIRM |
4080 |
100 |
101 |
2.53 |
10100 |
2.33 |
100 |
FIRM |
10100 |
120 |
27 |
0.68 |
3240 |
0.75 |
120 |
FIRM |
3240 |
140 |
12 |
0.30 |
1680 |
0.39 |
140 |
FIRM |
1680 |
160 |
18 |
0.45 |
2880 |
0.66 |
160 |
FIRM |
2880 |
180 |
79 |
1.98 |
14220 |
3.28 |
180 |
FIRM |
14220 |
200 |
31 |
0.78 |
6200 |
1.43 |
200 |
FIRM |
6200 |
220 |
3 |
0.08 |
660 |
0.15 |
220 |
FIRM |
660 |
240 |
1 |
0.03 |
240 |
0.06 |
240 |
FIRM |
240 |
260 |
5 |
0.13 |
1300 |
0.30 |
260 |
FIRM |
1300 |
280 |
4 |
0.10 |
1120 |
0.26 |
280 |
FIRM |
1120 |
300 |
3 |
0.08 |
900 |
0.21 |
300 |
FIRM |
900 |
320 |
1 |
0.03 |
320 |
0.07 |
320 |
FIRM |
320 |
340 |
1 |
0.03 |
340 |
0.08 |
340 |
FIRM |
340 |
360 |
896 |
22.44 |
322560 |
74.42 |
360 |
FIRM |
322560 |
C. Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to Non-Institutional Investors, who have bid at the Issue Price of
Rs. 270/- per Equity Share, was finalized in consultation with NSE . The category was over
subscribed 1.024540 times. The total number of Equity Shares allotted in this category is
966580 Equity Shares to 38 successful applicants including spill over from RETAIL Category
(546580 Equity Shares). The category-wise details of Basis of Allocation are as under
(Sample):
Category |
No. of
Applns. |
% to
total |
Total No. of
Shares applied |
% to
total |
No. of Shares
allocated per applicant |
Ratio |
Total No. of
Shares allocated |
500 |
1 |
2.63 |
500 |
0.05 |
488 |
FIRM |
488 |
1000 |
1 |
2.63 |
1000 |
0.1 |
976 |
FIRM |
976 |
1800 |
3 |
7.89 |
5400 |
0.55 |
1757 |
FIRM |
5271 |
1840 |
2 |
5.26 |
3680 |
0.37 |
1796 |
FIRM |
3592 |
4000 |
3 |
7.89 |
12000 |
1.21 |
3904 |
FIRM |
11712 |
5000 |
1 |
2.63 |
5000 |
0.5 |
4880 |
FIRM |
4880 |
7500 |
1 |
2.63 |
7500 |
0.76 |
7320 |
FIRM |
7320 |
9100 |
1 |
2.63 |
9100 |
0.92 |
8882 |
FIRM |
8882 |
10000 |
1 |
2.63 |
10000 |
1.01 |
9760 |
FIRM |
9760 |
11040 |
1 |
2.63 |
11040 |
1.11 |
10776 |
FIRM |
10776 |
18380 |
1 |
2.63 |
18380 |
1.86 |
17940 |
FIRM |
17940 |
18400 |
4 |
10.53 |
73600 |
7.43 |
17959 |
FIRM |
71836 |
36760 |
1 |
2.63 |
36760 |
3.71 |
35880 |
FIRM |
35880 |
37000 |
2 |
5.26 |
74000 |
7.47 |
36114 |
FIRM |
72228 |
92000 |
4 |
10.53 |
368000 |
37.16 |
89796 |
FIRM |
359184 |
100000 |
1 |
2.63 |
100000 |
10.1 |
97605 |
FIRM |
97605 |
110280 |
1 |
2.63 |
110280 |
11.14 |
107640 |
FIRM |
107640 |
D. Allocation to QIBs
Allocation to QIBs has been done on a proportionate basis in consultation with NSE. As per
the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares
available (1,40,000) including spill over from RETAIL CATEGORY (14,000 Equity Shares) and
other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available
shares (26,60,000) including spill over from RETAIL CATEGORY (2,66,000) on proportionate
basis
Category |
Fls/Banks |
MFs |
Flls |
VCs |
Total |
No.of Shares |
- |
240589 |
2559411 |
- |
2800000 |
The Board of Directors of the company at it's Meeting held at Mumbai on August 26,2008
has approved the basis of allocation of shares of the Issue and has allotted the shares to
various successful applicants.
The CAN-cum-Refund Orders and allotment advice and notices have been dispatched to the
address of the investors as registered with the depositories. 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 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 the basis of allocation.
INVESTORS PLEASE NOTE
This details of the allocation 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, LBS Marg, Bhandup West, Mumbai - 400 078.
Tel: 91 22 2596 320, Fax:
91 22 2596 0329
Email:rmmil.ipo@intimespectrum.com
Place: Mumbai
Date : 27th August, 2008 |
For Resurgere Mines & Minerals India Limited
Sd/-
Mr. Subhash Sharma
Chairman cum 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 RESURGERE MINES &
MINERALS INDIA LIMITED. |