Tulsi IPO Details

Issue Open Feb 1, 2008
Issue Close Feb 5, 2008
IPO Price ₹85
Face Value ₹10
IPO Size ₹48.45 Cr
Listing At BSE, NSE
IPO Lot Size 75

Tulsi Extrusions Limited

(Our Company was incorporated as Tulsi Extrusions Private Limited on September 16, 1994 and was converted into a Public Limited Company on June 5,1995)
Registered & Corporate Office: N-99, MIDC Area, Jalgaon 425003;
Tel.: 91 -257-2272732, 2212278; Fax: 91-257-2210052; (The registered office of our Company was changed from G-52, MIDC Area, Jalgaon, Maharashtra to present address with effect from July 21.1995)
Contact person: Mr. Sudarshan Taparia, Finance Controller & Compliance Officer; Email: ipo@tulsigroup.biz; Website: www.tulsigroup.biz

BASIS OF ALLOCATION

PUBLIC ISSUE OF 57,00,000 EQUITY SHARES OF RS 10/- EACH FOR CASH AT A PRICE OF RS. 85/- PER EQUITY SHARE FOR CASH AGGREGATING RS 4,845 LAKHS (THE "ISSUE"). THE ISSUE COMPRISED A RESERVATION OF 1,00,000 EQUITY SHARES OF RS. 10/- EACH AGGREGATING RS 85 LAKHS FOR ELIGIBLE EMPLOYEES (THE "EMPLOYEE RESERVATION PORTION"). AND NET ISSUE OF 56,00,000 EQUITY SHARES OF RS 10/- EACH AGGREGATING   RS 4760 LAKHS. THE ISSUE CONSTITUTED 45.62% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF OUR COMPANY.
THE FACE VALUE PER EQUITY SHARE IS RS. 10/-. THE ISSUE PRICE IS RS 85/- PER EQUITY SHARE AND IS 8.50 TIMES THE FACE VALUE.

This Issue was made through a 100% Book Building Process wherein not more than 50% of the Net issue to Public shall be available for allocation 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 and the remainder shall be 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 shall be available for allocation on a proportionate basis to Non Institutional Bidders and not less than 35% of the Net Issue to Public 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.

The Issue received 10598 applications for 10441950 Equity Shares resulting in 1.83 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 rejection)

Category No. of Applications No. of shares bid Subscription
Qualified Institutional Buyers 6 4313400 1.54
Non-Institutional Bidders 44 1481025 1.76
Retail Individual Bidders 10524 4533525 2.31
Employees 24 114000 1.14

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
80 22350 0.19 11877450 100.00
81 1425 0.01 11855100 99.81
82 2700 0.02 11853675 98.80
83 5400 0.05 11850975 99.78
84 600 0.01 11845575 99.73
85 7066425 59.50 11844975 99.73
CUTOFF 4778550 40.23 4778550 40.23
TOTAL 11877450

The Basis of Allocation was finalized in consultation with the Bombay StockExchange Limited (BSE) on February 15, 2008.
The final demand at different bid prices and allocation of shares in following four categories is as under:

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. 85/- per Equity Share was finalized in consultation with BSE. The category was over subscribed 1.140000 times. The total number of Equity Shares allotted in this category is 1,00,000 Equity Shares to 24 successful applicants. The category wise details of  the Basis of Allocation (sample) are as under:

Category No. of
Applications Received
% to Total No. of Equity
Shares Applied in each category
% to Total No. of Equity Shares Allocated Ratio Total No. of
Equity Shares Allocated
75 1 4.17 75 0.07 75 FIRM 75
150 2 8.33 300 0.26 131 FIRM 262
225 1 4.17 225 0.20 197 FIRM 197
300 1 4.17 300 0.26 263 FIRM 263
525 1 4.17 525 0.46 461 FIRM 461
675 1 4.17 675 0.59 592 FIRM 592
825 1 4.17 825 0.72 724 FIRM 724
1125 1 4.17 1125 0.99 987 FIRM 987
1200 1 4.17 1200 1.05 1053 FIRM 1053
1425 1 4.17 1425 1.25 1250 FIRM 1250
1500 1 4.17 1500 1.32 1316 FIRM 1316
2250 1 4.17 2250 1.97 1974 FIRM 1974
3600 1 4.17 3600 3.16 3158 FIRM 3158
4950 1 4.17 4950 4.34 4342 FIRM 4342
5025 1 4.17 5025 4.41 4408 FIRM 4408
6000 1 4.17 6000 5.26 5263 FIRM 5263
6450 1 4.17 6450 5.66 5658 FIRM 5658
11550 1 4.17 11550 10.13 10132 FIRM 10132
11700 1 4.17 11700 10.26 10263 FIRM 10263
11775 1 4.17 11775 10.33 10329 FIRM 10329
13500 1 4.17 13500 11.84 11840 FIRM 11840
14025 1 4.17 14025 12.30 12300 FIRM 12300
15000 1 4.17 15000 13.16 13153 FIRM 13153

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. 85/- per Equity Share, was finalized in consultation with BSE.The category was over subscribed 2.271314 times.The total numberof Equity Shares allotted in this category is 1960002 Equity Shares to 8225 successful applicants. The category-wise details of Basis of Allocation are as under:

Category No.of Applns. % to total Total No. of
Shares applied
% to total No. of Shares
allocated
Ratio Total No. of
Shares allocated
75 3408 33.06 255600 5.74 75 11:25 113025
150 1590 15.42 238500 5.36 75 22:25 105600
225 780 7.57 175500 3.94 99 FIRM 77220
300 859 8.33 257700 5.79 132 FIRM 113388
375 130 1.26 48750 1.10 165 FIRM 21450
450 125 1.21 56250 1.26 198 FIRM 24750
525 429 4.16 225225 5.06 231 FIRM 99099
600 243 2.36 145800 3.28 264 FIRM 64152
675 18 0.17 12150 0.27 297 FIRM 5346
750 55 0.53 41250 0.93 330 FIRM 18150
825 10 0.10 8250 0.19 363 FIRM 3630
900 20 0.19 18000 0.40 396 FIRM 7920
975 10 0.10 9750 022 429 FIRM 4290
1050 11 0.11 11550 0.26 462 FIRM 5082
1125 2620 25.42 2947500 66.21 495 FIRM 1296900

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. 85/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 1.645804 times. The total number of Equity Shares allotted in this category is 839998 Equity Shares to 37 successful applicants. The category-wise details of Basis of Allocation are as under:

Category No.of Applns. % to total Total No. of
Shares applied
% to total No. of Shares
allocated
Ratio Total No. of
Shares allocated
1200 2 5.41 2400 0.17 729 FIRM 1458
1275 1 2.70 1275 0.09 775 FIRM 775
2100 2 5.41 4200 0.30 1276 FIRM 2552
2250 1 2.70 2250 0.16 1367 FIRM 1367
2400 1 2.70 2400 0.17 1458 FIRM 1458
3525 1 2.70 3525 0.25 2142 FIRM 2142
3750 1 2.70 3750 0.27 2279 FIRM 2279
4350 1 2.70 4350 0.31 2643 FIRM 2643
4650 2 5.41 9300 0.67 2826 FIRM 5652
6000 5 13.51 30000 2.17 3646 FIRM 18230
7050 2 5.41 14100 1.02 4284 FIRM 8563
9975 2 5.41 19950 1.44 6061 FIRM 12122
11700 1 2.70 11700 0.85 7109 FIRM 7109
23100 1 2.70 23100 1.67 14036 FIRM 14036
29400 5 13.51 147000 10.63 17864 FIRM 89320
49950 1 2.70 49950 3.61 30350 FIRM 30350
58800 2 5.41 117600 8.51 35727 FIRM 71454
60000 1 2.70 60000 4.34 36456 FIRM 36456
105000 1 2.70 105000 7.60 63799 FIRM 63799
117600 1 2.70 117600 8.51 71453 FIRM 71453
117750 1 2.70 117750 8.52 71545 FIRM 71545
235275 1 2.70 235275 17.02 142952 FIRM 142952
300000 1 2.70 300000 21.70 182278 FIRM 182278

D.Allocation to QIBs
Allocation to QIBs has been done on a proportionate basis in consultation with BSE. As per the SEBI Guidelines, 2000 there were 1,40,000 equity shares reserved for Mutual Funds category. Since no applications were received from Mutual Funds, the spill over portion has been added to all other QIBs and other QIBs were allotted the remaining available shares (2800000) on proportionate basis;

Category Fls/Banks MFs FIIS VCs ICs Total
No. of shares 16261 - 2783739 - - 2800000

The Board of Directors of the company at its Meeting held on February 16, 2008 at Jalgaon, Maharashtra 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 by February 19, 2008. 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 have been credited to their beneficiary accounts subject to validation of the account details with the depositories concerned by February 19, 2008. The listing application have been filed with the BSE and the NSE on February 19, 2008 and 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

These details of the allocation made would be hosted on the website of the 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 Equity Shares bid for, name of the Member of Syndicate and place where the bid was submitted and payment details at the address given below:

INTIME SPECTRUM REGISTRY LIMITED
C-l3 Pannalal Silk Mills Compound, LBS Marg, Bhandup West, Mumbai 400078.
Tel: 022-25% 0320 (9 lines), Fax: 022-2596 0329
E-mail: tulsiipo@intimespectrum.com. Website: www.intimespectrum.com
Contact person: Mr. Sachin Achar, Registration No.: INR00000376I

Place: Mumbai
Date : February 21, 2008
For Tulsi Extrusions Limited
sd/-
Mr.
Sudarshan Taparia
Finance Controller and Compliance Officer

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON USTING OR THE BUSINESS PROSPECTS OF TULSI EXTRUSIONS LIMITED.

Tulsi IPO Basis of Allotment FAQs

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

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

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

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

  3. 3. What is Tulsi IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Tulsi IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).

Comments

   I Like It. | Report Abuse








Search Chittorgarh.com:

Download Our Mobile App

Android App iOS App