SEL IPO Details

Issue Open Jul 26, 2007
Issue Close Jul 31, 2007
IPO Price ₹90
Face Value ₹10
IPO Size ₹37.25 Cr
Listing At BSE, NSE
IPO Lot Size 75

AS SALUJA GROUP
SEL Manufacturing Company Limited

(We were incorporated as Saluja Exim Limited on May 8,2000 under the Companies Act, 1956 and obtained certificate of commencement of business on June 2, 2000. The name of our Company was changed to SEL Manufacturing Company Limited by a special resolution of the members passed at an extraordinary general meeting held on June 27, 2003. The name of our Company was again changed to Saluja Exim Limited by a special resolution of the members passed at an extraordinary general meeting held on November 10, 2003. The name of our company was once again changed to SEL Manufacturing Company Limited by a special resolution of the members passed at an extraordinary general meeting held on January 31, 2004. The status of our Company was changed to a private limited company by a special resolution of the members passed at an extraordinary general meeting held on March 15, 2004. The status of our Company was subsequently changed to a public limited company by a special resolution of the members passed at an extraordinary general meeting held on March 14,2006. Our registered office was shifted from Rahon Road, Opposite Octroi Post, Ludhiana to 706, Industrial Area A, Ludhiana, w.e.f June 20, 2001 and again shifted from 706, Industrial Area A, Ludhiana to 274, G.T.Road, Dhandari Khurd, Ludhiana-141 010, Punjab w.e.f. March 30, 2007)
Registered Office: 274, G.T.Road, Dhandari Khurd, Ludhiana-141 010, Punjab
Telephone: +91 161 2510270; Fax: +91 161 2510268.
Corporate Office: Village: Lal Kalan, Tehsil: Samrala, Ludhiana-Chandigarh Road, Near Neelon Canal Bridge, Ludhiana 141 113, Punjab.
Telephone: +91 161 323 8001/02/03; Fax: +91 161 2834 371
Email: ipo@rssalujagroup.co.in, Website: www.salujafabrics.com

BASIS OF ALLOCATION

PUBLIC ISSUE OF 41,38,410 EQUITY SHARES OF RS. 10 EACH FOR CASH AT A PRICE OF RS 90 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS. 80 PER EQUITY SHARE, AGGREGATING RS. 3725 LACS (THE 'ISSUE') BY SEL MANUFACTURING COMPANY LIMITED (THE 'COMPANY OR 'THE ISSUER'). THE ISSUE COMPRISES A NET ISSUE TO THE PUBLIC OF 39,31,490 SHARES OF RS. 90 EACH (THE 'NET ISSUE') AND A RESERVATION OF UP TO 2,06,920 SHARES OF RS. 90 EACH FOR THE PERMANENT EMPLOYEES OF THE COMPANY (THE 'EMPLOYEE RESERVATION PORTION'). THE ISSUE WOULD CONSTITUTE 27.20% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY. THE NET ISSUE WILL CONSTITUTE 25.84% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY

ISSUE PRICE: RS. 90 PER EQUITY SHARE OF FACE VALUE RS.10 EACH

THE ISSUE PRICE IS 9 TIMES OF THE FACE VALUE

This Issue is being made through a 100% Book Building Process wherein upto 50% of the Net Issue shall be allotted on a proportionate basis to Qualified Institutional Buyers ('QIBs'). 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only. 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 for allocation on a proportionate basis to Retail Individual Bidders, subject to valid bids being received at or above the,Issue Price. Further 2,06,920 Equity Shares shall be 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 11523 bids/applications for 1,32,74,250 equity shares resulting in 3.2076 times subscription. The details of the valid bids/applications received in the Issue from Retail Bidders, Non- Institutional Bidders, Qualified Institutional Buyers and Eligible Employees are as under: (Before technical rejections)

Category No. of Bids / Applications No. of Equity Shares Subscription (no.of time)
Retail Individual bidders 11448 4094775 2.9758
Non-Institutional bidders 30 925425 1.5692
Qualified Institutional Buyers 19 8049975 4.0951
Employee bidders. 26 204075 0.9863

Final Demand
A summary of the final demand at various price levels as per the electronic book is given below:

Bid Price No. of Shares % to Total Cumulative Total Cumulative % to Total
80 17475 0.1159 15075825 100.0000
81 375 0.0025 15058350 99.8841
82 750 0.0050 15057975 99.8816
83 1350 0.0090 15057225 99.8766
85 73875 0.4900 15055875 99.8677
86 300 0.0020 14982000 99.3776
87 450 0.0030 14981700 99.3757
88 1725 0.0114 14981250 99.3727
89 225 0.0015 14979525 99.3612
90 10373775 68.8107 14979300 99.3597
9999 4605525 30.5491 4605525 30.5491
TOTAL 15075825

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited (BSE) on Monday, August 13, 2007

A) Allocation to Retail investors: (After technical rejections)
The Basis of Allocation to the Retail Investors, who have bid at cut-off or at and above the Issue price of Rs.90/- Equity Share, was finalized in consultation with BSE. The category was subscribed 2.907275 times. The total number of equity shares allotted in this category is 1,37,8,023. Including Spill over from Employee Category (1992 Equity Shares) to successful applicants. The sample of category-wise details of the Basis of Allocation are as under:

Category No. of Applications % to Total Total no. of Shares applied % to Total Proportional Allocation Ratio Total No. of Shares allocated
75 4776 42.78 358200 8.94 75 17:50 122175
150 1666 14.92 249900 6.24 75 7:10 87450
225 592 5.30 133200 3.32 77 FIRM 45584
300 584 5.23 175200 4.37 103 FIRM 60152
375 164 1.47 61500 1.54 129 FIRM 21156
450 157 1.41 70650 1.76 155 FIRM 24335
525 648 5.80 340200 8.49 181 FIRM 117288
600 124 1.11 74400 1.86 206 FIRM 25544
675 20 0.18 13500 0.34 232 FIRM 4640
750 57 0.51 42750 1.07 258 FIRM 14706
825 13 0.12 10725 0.27 284 FIRM 3692
900 26 0.23 23400 0.58 310 FIRM 8060
975 16 0.14 5600 0.39 335 FIRM 5360
1050 2321 20.79 2437050 60.83 361 FIRM 837881

B. Allocation to Non-lnstitutional investors: (Alter technical rejections)
The Basis of Allocation to the Non-lnstitutional Investors, who have bid at cut-off or at the Issue Price of Rs.90/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 1.566982 times. The total number of equity shares allotted in this category is 5,90,572 Including Spill over from Employee Category (853 Equity Shares) to successful applicants. A sample of category-wise details of the Basis of Allocation are as under:

Category No. of Applications %to Total Total no. of Share applied % to Total Proportional Allocation Ratio Total No. of Shares allocated
1125 2 6.67 2250 0.24 718 FIRM 1436
2175 1 3.33 2175 0.24 1388 FIRM 1388
5400 1 3.33 5400 0.58 3446 FIRM 3446
6375 1 3.33 6375 0.69 4068 FIRM 4068
27750 1 3.33 27750 3.00 17709 FIRM 17709
44475 1 3.33 44475 4.81 28383 FIRM 28383
100050 3 10.00 300150 32.43 63849 FIRM 191547
305625 1 3.33 305625 33.03 195033 FIRM 195033

C) Allocation to Employees:
The Basis of Allocation to the Employee Category, who have bid at cut-off or at and above the Issue price of Rs.90/- Equity Share, was finalized in consultation with BSE. The category was subscribed 0.986251 times. The total number of equity shares allotted in this category is 204075. The unsubscribe portion (2845 shares) of Employee Category is added to Retail and HNI Category Respectively. The Category-wise details of the Basis of Allocation are as under:

Category No. of Applications % to Total Total no. of Shares applied % to Total Proportional Allocation Ratio Total No. of Shares allocated
75 3 11.54 225 0.11 75 FIRM 225
4500 4 15.38 18000 8.82 4500 FIRM 18000
5625 15 57.69 84375 41.35 5625 FIRM 84375
11775 1 3.85 11775 5.77 11775 FIRM 11775
22275 1 3.85 22275 10.92 22275 FIRM 22275
28425 1 3.85 28425 13.93 28425 FIRM 28425
39000 1 3.85 39000 19.11 39000 FIRM 39000

D. Allocation to QIBs:
Allocation to QIBs has been done on a proportionate basis in consultation with BSE. As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available (98287) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (1867453) on proportionate basis.

Category Fls / Banks MFs Flls Foreign Company Insurance Companies VCs Total
No. of Shares 452392 344692 1168656 - - - 1965740

The IPO Committee of the Company at it's Meeting held in Ludhiana on Monday August 13, 2007 has approved the Basis of Allocation and has allotted the equity shares to the successful bidders/applicants:

The CAN-cum-Refund Orders have been dispatched on, Wednesday, August 14, 2007 to the address of the investors as registered with the depositories. In case the same is not received within 10 (ten) days, Investors may contact at the address given below. The Refund Orders have been 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 respective beneficiary accounts subject to validation of the account details with the depositories concerned. SEL Manufacturing Company Limited is taking steps to get the Equity Shares admitted for trading on Bombay Stock Exchange Limited and National Stock Exchange Limited within seven working days from the date of approval of the Basis of Allocation.

INVESTORS MAY PLEASE NOTE
These details of the allocation / allotment made are being 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 equity 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 UNITED
Unit:SEL Manufacturing Company Limited

C-13,Pannlal Silk Compound, LBS Marg, Bhandup (W), Mumbai -400 078
Tel: 91 22 2596 0320, Fax: 91 22 2596 0329
Contact: Person: Mr. Vishwas Attawar
E-mail: selipo@intimespectrum.com: Website: www.intimespectrum.com

Place : Mumbai
Date : August 16, 2007

For SEL Manufacturing Company Limited
On behalf of the Board of Directors
sd/-
Neeraj Saluja
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 SEL MANUFACTURING COMPANY LIMITED.

SEL IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in SEL IPO?

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

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

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

  3. 3. What is SEL IPO allotment process?

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