Texmo IPO Details

Issue Open Feb 16, 2010
Issue Close Feb 19, 2010
IPO Price ₹90
Face Value ₹10
IPO Size ₹45.00 Cr
Listing At BSE, NSE
IPO Lot Size 75

TEXMO PIPES AND PRODUCTS LIMITED

(Our Company started as a partnership firm under the name Shree Mohit Industries on May 13, 1999. It was converted into a Public Limited Company under the name Texmo Pipes and Products limited on July 3, 2008 and received the Certificate of Commencement of Business on July 28, 2008.)

Registered & Corporate  Office:  98, Bahadarpur Road,  Burhanpur- 450 331, Madhya Pradesh.
Tel.: +91 -7325-255122; Fax: +91-7325-253273; Website: http://www.texmopipe.com
Compliance Officer & Contact person: Mr. Rishabh Kumar Jain;
Tel: +91-7325-255122/252353: Fax: +91-7325-253273;
Email: rjaincs@texmopipe.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 50,00,000 EQUITY SHARES OF RS 10/- EACH FOR CASH AT A PRICE OF RS.90 PER EOUITY SHARE, AGGREGATING RS. 4500 LAKHS (THE "ISSUE"). THE ISSUE COMPRISES A RESERVATION OF 1,00,000 EQUITY SHARES OF RS.10/- EACH AGGREGATlNG RS.90 LAKHS FOR ELIGIBLE EMPLOYEES (THE "EMPLOYEE RESERVATION PORTION"), AND NET ISSUE OF 49,00,000 EQUITY SHARES OF RS.10/- EACH AGGREGATING RS. 4410 LAKHS. THE ISSUE CONSTITUTED 44.37% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF OUR COMPANY.

THE ISSUE PRICE IS 9.0 TIMES THE FACE VALUE

This issue was being made through a 100% Book Building Process where in not more than 50% of the Net issue to Public was made available for allocation on a proportionate basis to Qualified Buyers ("QIBs"). 5% of the QIB portion was made available for allocation on a proportionate basis to Mutual Funds only and the remainder was made available for allotment on a proportionate basis to QIBs and Mutual Funds, subject to valid bids being received from them at or above the Issue Price. Further, not less than 15% of the Net issue to Public was made available for allocation on a proportionate basis to Non Institutional Bidders and not less than 35% of the Net issue to Public was made 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 17,995 application for 3,54,35,240 Equity Shares resulting in 7.08 times subscribtion the details of the apllications received in the Issue from Qualified Instituional Buyers, Non-Institutional Bidders, Retail Individual bidders and Employees are as under: (Before technical rejections and as per escrow banks' certificate)

Sr. No. Category No. of Application Received No. of Equity Share No. of time subscribed
A Retail Individual Bidders 17,886 1,21,86,665 7.11
B Non Institutional Bidders 39 2,07,17,400 28.19
C Qualified Institutional Buyers 3 24,99,900 1.02
D Employees 67 31,275 0.31
Total 17,995 3,54,35,240 7.08

Final Demand

A summary of the final demand as per the BSE and the NSE as on the Bid/ Issue Closing Date at different bids is as detailed hereunder:

Bid Price No. of  Share

% to total

Cumulative Total Cumulative % of Total
85 15,525 0.04 3.74,01,300 100.00
86 825 0.00 3,73,85,775 99.96
87 225 0.00 3,73,84,950 99.96
68 1,275 0.00 3,73,84,725 99.96
89 75 0.00 3,73,83,450 99.95
90 3,73,63,375 99.95 3,73,83,375 99.95

The Baals of Allocation was finalized In consultation with the Designated Stock Exchange, being the Bombay Stock Exchange Limited ("BSE") on March 3, 2010.

A. Allocation to Employee (After Technical Rejections)

The Basis of Allocation to the employees of Texmo Pipes and Products Lid, who have bid at cut-off or at the Issue Price of Rs.90/- per Equity Share, was finalized in consultation with BSE. The total number of shares allotted In this category is 31,275. The Employee Reservation portion of issue was undersubscribed to the extent of 68,725 Equity Shares. Out of this, 68,575 Equity Shares have been added to Qualified Institutional Buyers, Non Institutional Investors and Retail Category in the ratio of 50:15:35. Further, under-subscription to the extent of 150 Equity Shares (rejection In the employee reservation category) has been added to the Retail Category and Non Institutional Investor category in the ratio nl 70: 30. The category-wise details of the Basis of Allocation are as under:

Category No. of Application
Received
% to total Total No.
of Equity Share
applied
% of total No. of
Equity Share
allocated
Ratio Total No. of Equity Share
allocated
75 18 26.87 1350 4.32 75 FIRM 1350
150 12 17.91 1800 5.76 150 FIRM 1800
225 5 7.46 1125 3.60 225 FIRM 1125
300 3 4.48 900 2.88 300 FIRM 900
450 3 4.48 1350 4.32 450 FIRM 1350
525 2 2.99 1050 3.36 525 FIRM 1050
600 1 1.49 600 1.92 600 FIRM 600
750 3 4.48 2250 7.19 750 FIRM 2250
900 1 1.49 900 2.88 900 FIRM 900
1050 19 26.36 19950 63.79 1050 FIRM 19950

TOTAL

67 100.00 31275 100.00 31275

B. Allocation to Retail Individual Investor (Including ASBA Application) (After Technical Rejection)

The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs.90/- per Equity Share or above, was finalized in constitution with BSE. This category has been subscribed to the extent of 6.89 times. Overall 17,400 applications for 1,19,85,450 Equity Shares were found valid and they were considered for allotment. The above includes 842 valid applications for 1,08,793 Equity Shares made under the ASBA process. The total number of shares allotted In Retail Individual Investor category is 17,39,106 Equity Shares (including spill-over of 24,106 Equity Shares from employee category, as per the Red Herring Prospectus) to 12,749 applicants. The category-wlse details of the Basis of Allocation are as under:

Category No. of
Applications
Received
% to total Total No.of Equity Shares applied % of
total
No. of Equity Shares allocated Ratio Total No.of
Equity Shares allocated
75 3,833 22.03 2,67,475 2.40 75 5:33 43,575
150 1,123 6.45 1,66,450 1.41 75 3:10 25,275
225 523 3.01 1,17,675 0.98 75 4:9 17,400
300 634 3.64 1,90,200 1.59 75 7:12 27,750
375 151 0.87 56,625 0.47 75 3:4 8,475
450 160 0.92 7,20,00 0.60 75 7:8 10,500
525 573 3.29 3,00,625 2.51 76 FIRM 43,546
600 211 1.21 1,26,600 1.06 67 FIRM 18,357
675 30 0.17 20,250 0.17 98 FIRM 2,940
750 47 0.27 35,250 0.29 109 FIRM 5,123
825 16 0.09 13,200 0.11 120 FIRM 1,920
900 38 0.22 34,200 0.29 131 FIRM 4,978
875 18 0.10 17,550 0.15 142 FIRM 2,556
1050 10,043 57.72 1,05,45,150 87.98 152 FIRM 15,26,536
Additional 1 1:58 173
Total 17,39,106

C. Allocation to Non Institutional  Investor (including ASBA application) (After Technical Rejections)

The Basis of Allocation to the Non-Institutional Investors, who have bid at the Issue Price of Rs. 90/- par Equity Share, was finalized in consultation with BSE. This category has been subscribed to the extent of 27.78 times. The allotment was done on firm basis. Overall 32 applications for 2,07,04,125 Equity Shares were found valid and they were considered for allotment. The total number of Equity Shares allotted in this category is 7,45,331 (including spill-over of 10,331 Equity Shares from employee category, as per Red Herring Prospectus) to 32 applicants. The category-wise details of the Basis of Allocation are as under:

Category No. of Applications
Received
% to total Total No. of
Equity Shares
applied
% of total No. of
Equity Shares
allocated
Ratio Total No. of Equity Shares
allocated
1125 1 3.13 1125 0.01 75 FIRM 75
1200 1 3.13 1200 0.01 75 FIRM 75
2175 I 3.13 2175 0.01 78 FIRM 78
11100 1 3.13 11100 0.05 400 FIRM 400

21235

1 3.13 21225 0.10 764 FIRM 764
22050 1 3.13 22050 0.11 794 FIRM 794
22200 2 6.25 44400 0.21 799 FIRM 1596
22500 1 3.13 22500 0.11 610 FIRM 610
27750 1 3.13 27750 0.13 999 FIRM 999
33300 1 3.13 33300 0.16 1199 FIRM 1199
49500 2 6.25 99000 0.48 1762 FIRM 3564
111075 2 6.25 222150 1,07 3999 FIRM 7998
139650 1 3.13 139650 0.67 5027 FIRM 5027
200025 1 3.13 200025 0.97 7201 FIRM 7201
2221S0 1 3.13 222150 1.07 7997 FIRM 7997
222225 1 3.13 222225 1.07 8000 FIRM 8000
600000 1 3.13 600000 2.90 21599 FIRM 21599
666600 1 3.13 666600 3.22 23997 FIRM 23997
735000 3 9.38 2205000 10.65 26459 FIRM 79377
1111050 1 3.13 1111050 5.37 39997 FIRM 39997
1470000 1 3.13 1470000 7.10 52919 FIRM 52919
1666650 2 6.25 3333300 16.10 59996 FIRM 119996
1911150 1 3.13 1911150 9.23 66600 FIRM 68800
2400000 1 3.13 2400000 11.59 86378 FIRM 86378
2775000 1 3.13 2775000 13.40 99675 FIRM 99875
2940000 1 3.13 2940000 14.20 105814 FIRM 105614
TOTAL 32 100.00 20704125 100.00 745331

D.Allocation to Qualified Institutional Buyers (After Technical Rejections)

The Basis of Allocation to the Qualified Institutional Buyers, who have bid at the Issue Price of Rs, 90/- per Equity Share, was finalized in consultation with BSE. Overall 3 applications for 24,99,900 Equity Shares were found valid and 24,84,288 (including spill-over of 34288 Equity Shares from employee category, as per the Red Herring Prospectus) were considered for allotment.

Category FIs/Banks Flls MFs ICs PFs Total
No. of Eauity Shares NIL 24.84.288 NIL NIL NIL 24.84,288

The Board of Directors of the Company at its meeting held on March 3, 2010 has approved the basis of allocationl Equity Shares of the Issue and has allotted the Equity Shares to various successful applicants.

The CAN-cum-Refund Orders and Refund credit advice 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 Account details as registered, if any, with the depositories. The Equity Shares allocated to successful applicants have been credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has received the trading approval from Bombay Stock Exchange Limited and the National Stock Exchange of India Limited and is scheduled to get listed on both the stock exchange on March 10, 2010.

Texmo Pipes and Products Limited has the right to use the trademark "TEXMO" and has nothing to do with Aqua Pump Industries or its trademar "TEXMO AQUA"

INVESTORS PLEASE NOTE

The detail of the allocation made would be hosted on the website of Registrar to the Issue, Karvy Computershare Private Limited at http://www.karvy.com

All future correspondences in this regard may kindly be addressed to the Registrar 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 detail at the address given below:

Karvy Computershare Private Limited
Unit: TEXMO PIPES AND PRODUCTS LIMITED
Plot No.17 to 24, Vithalrao Nagar, Hitech City Road,
Madhapur, Hyderabad - 500081.
Tel: 040-23420815, Fax: 040-23420814, Email: http://texmoipo@karvy.com

TOLL FREE - HELPLINE NUMBER 1-800-3454001

Place: Burhanpur
Date : March 9, 2010

For Texmo Pipes and Products Limited
Sd/-
                                                                                                                Rishabh Kumar Jain
Company Secretary 

Texmo IPO Basis of Allotment FAQs

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

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

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

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

  3. 3. What is Texmo IPO allotment process?

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