Rushil Decor IPO Details

Issue Open Jun 20, 2011
Issue Close Jun 23, 2011
IPO Price ₹72
Face Value ₹10
IPO Size ₹40.64 Cr
Listing At BSE, NSE
IPO Lot Size 90

RUSHIL DECOR LIMITED

(Our Company was incorporated on May 24,1993 as "Rushil Decor Private Limited" under the provisions of the Companies Act, 1956 with Registrar of Companies, Gujarat, Dadra & Nagar Haveli and subsequently, the name of our Company changed to "Rushil Decor Limited" on December 4,2007 vide a fresh certificate of incorporation on becoming a public limited company. Our company has been allocated Corporate Identification number U25209GJ1993PLC019532. For details of changes in our registered office, see the section "History and Other Corporate Matters" beginning on page no 142 of the Red Herring Prospectus)

REGISTERED OFFICE: S.No.125, Near Kalyanpura Patia, Gandhinagar Mansa Road, Village llta, Tal: Kalol, District: Gandhinagar - 382845 Gujarat, India, Tel. No. + 91-2764-287 487,287 777; Fax No. + 91-2764-287 700
CORPORATE OFFICE: 1, Krinkal Apartment, Opp. Mahalaxmi Temple, Near Mahalaxmi Char Rasta, Paldi, Ahmedabad - 380007, Gujarat, India Tel No: +91-79-26651346/ 2662 2323; Fax No: +91-79-2664 0969;
Email id: ipo@rushil.com; Website: www.virlaminate.com
Company Secretary & Compliance Officer: Mr. Hasmukh Kanubhai Modi

BASIS OF ALLOTMENT

Public Issue of 56,43,750 Equity Shares of Rs. 10/- each of Rushil Decor Limited (hereinafter referred to as the "Company" or "Issuer" or "RDL") at a price of Rs. 72 per Equity Share for cash aggregating Rs. 4063.50 lakhs (hereinafter referred to as the "Issue") including Promoter's Contribution of 2,43,750 Equity Shares of Rs.10/- each at a price of Rs. 72 per Equity Share for cash aggregating Rs. 175.50 lakhs (hereinafter referred to as the "Promoter's Contribution") and Net Issue to the public of 54,00,000 Equity Shares at a price of Rs. 72 per Equity Share aggregating Rs. 3888.00 lakhs (hereinafter referred to "Net Issue"). The Net Issue will constitute 37.50% of the post Issue paid-up capital of our Company.

THE FACE VALUE PER EQUITY SHARE IS Rs.10/- EACH FOR A CASH AT A PRICE OF Rs. 72/- EACH THE ISSUE PRICE IS 7.2 TIMES OF THE FACE VALUE
The Equity Shares of the Company are proposed to be listed on Bombay Stock Exchange Limited. ("BSE") & National Stock Exchange of India Limited. ("NSE")

This Issue was made through a 100% Book Building Process wherein upto 50% of the Net Issue (subject to mandatorily minimum 10%) will be allocated to Qualified Institutional Buyers (QIBs) on a proportionate basis, subject to valid bids being received at or above the Issue Price. Out of the portion available for allocation to the QIBs, 5% will be available for allocation to Mutual Funds only. Mutual Fund Bidders shall also be eligible for proportionate allocation under the balance available for the QIBs. Further, at least 15% of the Net Issue shall be available for allocation on a proportionate basis to Non Institutional Bidders and at least 35% of the Net Issue shall be available forallocation on a proportionate basis to Retail Individual Bidders, as per the allotment procedure specified in the regulations, subject to valid bids being received at or above the Issue Price.
The Issue received 5,808 applications for 13,792,320 equity shares from Qualified Institutional Buyers, Non-Institutional and Retail Individual Bidders resulting in 2.55 times subscription. The details of the applications received in the Issue from QIBs, Non-Institutional and Retail Individual Investors categories are as under: (Before technical rejections)

Category No. of Applications No.of Shares No. of times Subscription
Qualified Institutional Investors 01 625050 0.23
Non Instititutional Bidders 16 1089990 1.35
Retail Individual Bidders 5791 12077280 6.39
Total 5808 13792320 2.55

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
63.00 2880 0.00 14131440 100.00%
64.00 810 0.00 14128560 99.98%
65.00 3060 0.00 14127750 99.97%
67.00 0 0.00 14124690 99.95%
68.00 0 0.00 14124690 99.95%
69.00 180 0.00 14124690 99.95%
70.00 540 0.00 14124510 99.95%
71.00 90 0.00 14123970 99.94%
72.00 3301380 0.61 14123880 99.94%
CUTOFF 10822500 2.00 10822500 76.58%

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited ("BSE") on July 01,2011

A. Allocation to Retail Individual Investors (AfterTechnical Rejections)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs.72 per Equity Share, was finalized in consultation with BSE. This category has been over subscribed to the extent of 3.21 times. The total number of shares allotted in Retail Individual Investor category is 36,84,960 Equity Shares to 5,289 successful applicants which includes the spill over of 14,52,465 equity shares from QIB Category and 3,42,495 equity shares from Non-Institutional Category. The category-wise details of the Basis of Allocation are as under:

Category No. of Applications Shares applied % to total Total No. of Equity Shares allocated % to total No. of Equity Shares allocated Ratio Total No. of Equity
90 392 6.98 35280 0.30 10995 14:45 10980
180 148 2.63 26640 0.23 8302 23:37 8280
270 67 1.19 18090 0.15 5638 62:67 5580
360 88 1.57 31680 0.27 9873 1:1 9856
450 66 1.17 29700 0.25 9256 1:1 9240
540 36 0.64 19440 0.16 6058 1:1 6048
630 48 0.85 30240 0.26 9424 1:1 9408
720 45 0.80 32400 0.27 10097 1:1 10080
810 9 0.16 7290 0.06 2272 1:1 2268
900 47 0.84 42300 0.36 13182 1:1 13160
990 6 0.11 5940 0.05 1852 1:1 1854
1080 6 0.11 6480 0.05 2020 1:1 2022
1170 5 0.09 5850 0.05 1823 1:1 1825
1260 2 0.04 2520 0.02 785 1:1 786
1350 724 12.88 977400 8.27 304595 1:1 304804
1440 10 0.18 14400 0.12 4488 1:1 4490
1530 3 0.05 4590 0.04 1430 1:1 1431
1620 6 0.11 9720 0.08 3029 1:1 3030
1710 8 0.14 13680 0.12 4263 1:1 4264
1800 13 0.23 23400 0.20 7292 1:1 7293
1890 2 0.04 3780 0.03 1178 1:1 1178
1980 1 0.02 1980 0.02 617 1:1 617
2070 3 0.05 6210 0.05 1935 1:1 1935
2160 2 0.04 4320 0.04 1346 1:1 1346
2250 24 0.43 54000 0.46 16828 1:1 16824
2340 1 0.02 2340 0.02 729 1:1 729
2430 4 0.07 9720 0.08 3029 1:1 3028
2520 3 0.05 7560 0.06 2356 1:1 2355
2610 2 0.04 5220 0.04 1627 1:1 1626
2700 3849 68.49 10392300 87.89 3238641 1:1 3237009
2700 1 13:31 1614

B. Allocation to Non Institutional Investors
The Basis of Allocation to the Non-Institutional Investors, who have bid atthe Issue Price of Rs.72 per Equity Share, was finalized in consultation with BSE. This category has been subscribed to the extent of 0.76 times. The total number of shares allotted in this category is 10,89,990 Equity Shares to 16 successful applicants, which includes the spill over of 6,22,485 equity shares from QIB Category. The category-wise details of the Basis of Allocation are under:

Category No. of Applications % to total Total No. of Equity Shares applied % to total No. of Equity Shares allocated Ratio Total No. of Equity Shares allocated
3060 1 6.25 3060 0.28 4022 1:1 3060
4050 2 12.50 8100 0.74 10645 1:1 8100
5040 1 6.25 5040 0.46 6624 1:1 5040
5400 1 6.25 5400 0.50 7097 1:1 5400
7020 2 12.50 14040 1.29 18452 1:1 14040
9990 1 6.25 9990 0.92 13129 1:1 9990
13500 1 6.25 13500 1.24 17742 1:1 13500
13860 1 6.25 13860 1.27 18215 1:1 13860
69480 1 6.25 69480 6.37 91312 1:1 69480
138600 1 6.25 138600 12.72 182151 1:1 138600
156240 1 6.25 156240 14.33 205333 1:1 156240
166680 1 6.25 166680 15.29 219054 1:1 166680
208260 1 6.25 208260 19.11 273699 1:1 208260
277740 1 6.25 277740 25.48 365011 1:1 277740

C. Allocation to QIBs

Category FIS/Banks MFs Flls Insurance Companies Total
No. of Shares 6,25,050 - - - 6,25,050

The Board of Directors of the Company at its Meeting held at Registered Office of the Company on 2nd July, 2011 has taken on record the basis of allocation of shares approved by the Designated Stock Exchange the Bombay Stock Exchange Limited (BSE) and has authorised the Corporate Action for the transfer of shares to various successful applicants.

Dates of dispatch of Refund Warrants, Credit to Beneficiary Accounts, Refund Instructions and Listing Details

Activity Date of Completion
Approval of Basis of Allotment by BSE July 1,2011
Instructions to the Self Certified Syndicate Banks (SCSBs) by the Registrar July 2,2011
Dispatch of Allotment Advices .Refund Warrants and ECS Intimation Note July 4,2011
Refund Instructions to the Clearing System (in case of Refunds through ECS system) July 2,2011
Listing Application to BSE & NSE July 4,2011
Credit to Beneficiary Accounts July 5,2011

Refunds have been made through NECS and Direct Credit into the Bank Accounts of applicants, as registered with the Depositories. For other applicants refund warrant 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 atthe address given below. The refund warrant has 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 concemed.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 subject to receipt of necessary approvals.

INVESTORS PLEASE NOTE

This details of the allocation made would be hosted on the website of Registrars to the Issue, Bigshare Services Pvt. Ltd. at website: www.bigshareonline.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 atthe address given below:

BIGSHARE SERVICES PVT. LTD.
E/2, Ansa Industrial Estate, Sakivihar Road, Sakinaka,
Andheri (E), Mumbai - 400 072
Tel:
+91-22-404 30 200, Fax: +91-22-28475207
Email:
fclipo@bigshareonline.com, Website: www.bigshareonline.com

Place: Ahmedabad
Date
: July 05,2011
For Rushil Decor Limited
on behalf of Board of Directors
Sd/-
Managing Director

Rushil Decor IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Rushil Decor IPO?

    Check the basis of allotment document above to know about how the shares are allocated in Rushil Decor 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 Rushil Decor IPO basis of allotment status?

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

    Visit the Rushil Decor IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Rushil Decor IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Rushil Decor 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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