Transformers & Rectifiers IPO Basis of Allotment

Transformers & Rectifiers IPO Details

Issue Open Dec 7, 2007
Issue Close Dec 12, 2007
IPO Price ₹465
Face Value ₹10
IPO Size ₹139.27 Cr
Listing At BSE, NSE
IPO Lot Size 15

Transformers and Rectifiers (India) Limited

(Our Company was incorporated as Trtvani Electric Company limited vide certificate of incorporation on July 11,1994. The name of the company changed to Transformers and Rectifiers (India) Limited with effect from March 26,1995.
Registered and Corporate Office: Survey No 344-350, Opposite P.W.D. Stores, Village Changodltar, Sarkhej Bhavla Highway, Taluka Sanand. Dist. Ahmedabad - 382 210, Gujrat. Tel: 491-2717-661661 Fax: +91-2717-661716.
E-mail: ipo@transformerindia.com &. Company Secretary & Compliance Officer. Mr. Tushar Shah. Website: www.transfomerindia.com

BASIS OF ALLOCATION

PUBLIC ISSUE BY TRANSFORMERS AND RECTIFIERS INDIA LIMITED ("COMPANY") OF 29,95,000 EQUITY SHARES OF RS. 10 EACH ("EQUITY SHARES") FOR CASH AT A PRICE OF RS. 465 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 455 PER EQUITY SHARE) AGGREGATING RS. 1392.675 MILLION (THE "ISSUE"). THE ISSUE COMPRISES A NET ISSUE TO THE PUBLIC OF 28,45,000 EQUITY SHARES OF RS. 10 EACH (THE "NET ISSUE") AND A RESERVATION OF 1,50,000 EQUITY SHARES OF RS. 10 EACH FOR ELIGIBLE EMPLOYEES OF THE COMPANY (THE "EMPLOYEES RESERVATION PORTION")
ISSUE PRICE: RS. 465 PER EQUITY SHARE OF FACE VALUE RS 10/. THE ISSUE PRICE IS 46.5 TIMES OF THE FACE VALUE

In terms of Rule 19 (2) (b) of the SCRR, as being an issue for less than 25% of the Post-Issue equity share capital, the Issue was being made through the 100% Book Building Process wherein at least 60% of the Net Issue shall be allocated on a proportionate basis to QIB Bidders out of which 5% of the QIB Portion shall be available for allocation on a proportionate basis to the Mutual Funds only and the remainder of the QIB portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. If at least 50% of the Net Issue cannot be allotted to QIBs, than the entire application money will be refunded forthwith.. Further, upto 30% of the Net Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders and upto 10% of the Net Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders, subject to valid Bids being received at or above the Issue Price

The Issue received 345115 applications for 269462190 equity shares resulting in 89.9857 times subscription. The details of the applications received in the Issue from Qualified Institutional Bidders, Non-Institutional and Retail Investor categories are as under: (Before technical rejections)

Category No. of Applications No. of Shares Subscription
Qualified Institutional Bidders

265

188610315 110.4923
Non Institutional Investors

611

31515360 110.7746
Retail Investors

344132

49186860 57.6634
Employee

107

149655 0.9977

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

425

450045

0.1638

274688415 100.0000

426

885

0.0003

274238370 99.8362

427

75

0.0000

274237485 99.8358

428

600

0.0002

274237410 99.8358

429

30

0.0000

274236810 99.8356

430

94425

0.0344

274236780 99.8356

432

255

0.0001

274142355 99.8012

433

90

0.0000

274142100 99.8011

434

10455

0.0038

274142010 99.8011

435

10485

0.0038

274131555 99.7973

436

15

0.0000

274121070 99.7935

437

60

0.0000

274121055 99.7935

438

15

0.0000

274120995 99.7934

439

120

0.0000

274120980

99.7934

440

100200

0.0365

274120860 99.7934

441

300

0.0001

274020660 99.7569

442

450

0.0002

274020360 99.7568

443

225

0.0001

274019910 99.7566

444

20760

0.0076

274019685

99.7565

445

51360

0.0187

273998925

99.7490

446

60

0.0000

273947565

99.7303

447

90

0.0000

273947505

99.7303

448

45

0.0000

273947415

99.7302

450

404835

0.1474

273947370

99.7302

451

90

0.0000

273542535

99.5828

452

105

0.0000

273542445

99.5828

453

180

0.0001

273542340

99.5828

455

13875

0.0051

273542160

99.5827

456

45

0.0000

273528285

99.5777

457

30

0.0000

273528240

99.5776

458

465

0.0002

273528210

99.5776

459

210

0.0001

273527745

99.5775

460

53100

0.0193

273527535

99.5774

461

90

0.0000

273474435

99.5581

462

3390

0.0012

273474345

99.5580

463

1125

0.0004

273470955

99.5568

464

1335

0.0005

273469830

99.5564

465

225913260 82.2435

273468495

99.5559
CUTOFF

47555235

17.3124

47555235

17.3124

TOTAL

274688415

The Basis of Allocation for all the categories namely Retail Individual Investors, Non Institutional Investors and Qualified Institutional Buyers was finalised in consultation with National Stock Exchange of India Limited (Designated Stock Exchange) on 21 December 2007.

A. Allotment to Retail Investors (After Technical Rejections)
All the bidders in the Retail Investors, who have bid at cut-off or at the Issue Price of Rs. 465/- per Equity Share, have been considered while preparing the Basis of Allocation. The category was over subscribed 56.847502 times. The total number of shares allotted in this category is 853605 Equity Shares including spill over from Employee Category. (104 Shares). The category-wise details of the Basis of Allocation are as under:

Category
(No. of Shares)
No. of Applns. % to Total Total No. of Shares Applied % to Total No. of Shares Allocated Ratio Total No. of Shares Allocated

15

31617 9.34 474255 0.98 15 1:53 8925

30

22027 6.51

660810

1.36 15 1:27 12225

45

16489 4.87 742005 1.53 15 1:19 13020

60

14736 4.35 884160 1.82 15 4:57 15510

75

10106 2.99

757950

1.56 15 5:57 13290

90

9570 2.83

861300

1.77 15 2:19 15105
105 30202 8.93 3171210 6.54 15 7:57 55635
120 9879 2.92 1185480 2.44 15 8:57 20805
135 2928 0.87

395280

0.81 15 3:19 6930
150 7095 2.10 1064250 2.19 15 10:57 18675
165 2211 0.65

364815

0.75 15 11:57 6405
180 3154 0.93

567720

1.17 15 4:19 9960
195 3972 1.17

774540

1.60 15 14:57 14640
210 174388 51.54 36621480 75.47

15

14:57 642480

B. Allotment to Non Institutional Investors (After Technical Rejections)
All the bidders in the Non-Institutional Investors, who have bid at the Issue Price of Rs. 465/- per Equity Share, have been considered while preparing the Basis of Allocation. The category was over subscribed 110.507057 times. The total number of shares allocated in this category Is 264533 Equity Shares. The category-wise details of the Basis of allocation are as under:

Category
(No. of Shares)
No. of Applns. %to Total Total No. of Shares Applied %to Total No. of Shares Allocated Ratio Total No. of Shares Allocated
225 77 16.18

17325

0.06

15

1:7 165
240 13 2.73

3120

0.01

15

2:13 30
255

1

0.21

255

0.00

15

FIRM 15
270

6

1.26

1620

0.01

15

1:6 15
750

5

1.05

3750

0.01

15

2:5 30
855

2

0.42

1710

0.01

15

1:2 15
900

1

0.21

900

0.00

15

FIRM 15
960

2

0.42

1920

0.01

15

1:2 15
975

1

0.21

975

0.00

15

FIRM 15
990

1

0.21

990

0.00

15

FIRM 15
1005

1

0.21

1005

0.00

15

FIRM 15
1050

6

1.26

6300

0.02

15

2:3 60
1065 10 2.10

10650

0.03

15

3:5 90
1080

5

1.05

5400

0.02

15

3:5 45
4500

3

0.63

13500

0.04

40

FIRM 120
4950

1

0.21

4950

0.02

45

FIRM 45
5010

1

0.21

5010

0.02

45

FIRM 45
10350

1

0.21

10350

0.03

94

FIRM 94
10500

1

0.21

10500

0.03

95

FIRM 95
10725

1

0.21

10725

0.03

97

FIRM 97
10740

3

0.63

32220

0.10

97

FIRM 291
10755

2

0.42

21510

0.07

97

FIRM 194
30000 10 2.10 300000 0.95 271 FIRM 2710
30240

1

0.21

30240

0.10 274 FIRM 274
32250

1

0.21

32250

0.10 292 FIRM 292
32265

1

0.21

32265

0.10 292 FIRM 292
39000

1

0.21

39000

0.12 353 FIRM 353
39555

2

0.42

79110

0.25 358 FIRM 716
40500

1

0.21

40500

0.13 366 FIRM 366
42585

1

0.21

42585

0.14 385 FIRM 385
122580

1

0.21

122580

0.39 1109 FIRM 1109
123645

1

0.21

123645

0.39 1119 FIRM 1119
135000

2

0.42 270000 0.86 1221 FIRM 2442
860205

2

0.42 1720410 5.47 7784 FIRM 15568
900000

1

0.21 900000 2.86 8144 FIRM 8144
1016115

1

0.21 1016115 3.23 9187 FIRM 9187
1075260

3

0.63 3225780 10.26 9710 FIRM 29130

C.Allocation to QIBs
Allocation to QIBs has been done on a proportionate basis in consultation with NSE.

Category Fls/Banks MFs Flls VCs INCs Total
Shares Allotted 474500 275900 719859 20813 216135 1707207

Dates of despatch of Refund Orders, Credit to beneficiary Accounts, Refund instructions and Listing details

Activity Date of Completion
Approval of Basis of Allotment by NSE 22nd December, 2007
Despatch of Allotment Advices, Refund Orders and ECS Intimation Note 26th December, 2007
Refund Instructions to the Clearing System (in case of Refunds through ECS system) 24th December, 2007
Listing Application to BSE & NSE 26th December, 2007
Credit to beneficiary Accounts 24th December, 2007

Refunds have been made through ECS, Direct credit, RTGS and NEFT, into the Bank Accounts of the applicants, as registered with the depositories, for applicants residing at any of the 15 centres specified by SEBI. For other applicants Refund Orders have been despatched to their address as registered with the depositories. In case the same is not received within ten days, applicants may contact at the address given below. ECS Intimation Note and Refund Orders have been over-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 beneficiary accounts.
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 within seven working days from the date of approval of the basis of allotment.

D. Allotment to Employees (After Technical Rejections)
All the bidders in the Employee Category, who have bid at the Issue Price of Rs. 465/- per Equity Share, have been considered while preparing the Basis of Allocation. The category was under subscribed by 0.9977 times. The total number of shares allocated in this category is 149655 Equity Shares. The unsubscribed portion of 345 Equity Shares was added to the QIB, HNI and Retail Category in the ratio of 60:10:30.

INVESTORS PLEASE NOTE
This details of the allocation made would be hosted on the website of Registrar to the Issue, Intime Spectrum Registry Limited at www.intimespectrum.com
All future correspondence 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 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,
L.B.S. Marg, Bhandup (W), Mumbai - 400 078
Tel: +91 - 22 - 2596 0320, Fax: +91 - 22 - 2596 0329
Email: tr.ipo@intimespectrum.com Website: www.intimespectrum.com
Contact person: Mr. Sachin Achar

Place : Mumbai
Date : 24th December, 2007
For TRANSFORMERS AND RECTIFIERS (INDIA) LIMITED
On behalf of the Board of Directors
Sd/-
Chairman and Managing Director

Transformers & Rectifiers IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Transformers & Rectifiers IPO?

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

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

    Visit the Transformers & Rectifiers IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Transformers & Rectifiers IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Transformers & Rectifiers 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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