Usher Agro IPO Details

Issue Open Sep 5, 2006
Issue Close Sep 11, 2006
IPO Price ₹15
Face Value ₹10
IPO Size ₹18.02 Cr
Listing At BSE
IPO Lot Size 400

USHER AGRO LIMITED

(Originally incorporated as Usher Agro Limited on June 20, 1996 under the provisions of Companies Act, 1956 vide registration no.: 11-100380 (CIN: U01100MH1996PTC100380) and received the Certificate for Commencement of Business on July 04, 1996 from the Registrar of Companies, Maharashtra, Mumbai.)

Registered & Corporate Office: C - 617, Hilton Tower, Sher-E-Punjab, Andheri (East), Mumbai - 400 093.
Tel: +91-22-2836 3387, 2837 8967; Fax: +91-22-2837 8967 Email: usher@vsnl.com Website: www.usheragro.com Contact Person: Ms. Rutika Pawar - Company Secretary & Compliance Officer

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 1,20,12,000 EQUITY SHARES OF FACE VALUE Rs. 10/- EACH OF USHER AGRO LIMITED AT A PREMIUM OF Rs.5/- PER SHARE (I. E. AT A PRICE OF Rs.15/- PER SHARE) FOR CASH AGGREGATING TO Rs. 18,01,80,000/- COMPRISING OF PROMOTERS CONTRIBUTION OF 32,00,000 EQUITY SHARES OF FACE VALUE Rs.10/- EACH AT A PRICE OF Rs. 15/- FOR CASH AGGREGATING TO RS. 4,80,00,000/-. THE NET OFFER TO THE PUBLIC IS OF 88,12,000 EQUITY SHARES OF FACE VALUE Rs.10/- EACH AT A PRICE OF Rs.15/- FOR CASH AGGREGATING TO Rs. 13,21,80,000/-
THE ISSUE PRICE OF RS.15/- PER EQUITY SHARE IS 1.5 TIMES THE FACE VALUE.

The Board of Directors of Usher Agro Limited (`the Company') thanks all the investors and the intermediaries for the success of the Public Issue. The details of subscription are as under:

Category Offer No. of valid
applications
recd.
No. of shares
applied for under
valid application
No. of times
subscribed
No. of shares
allotted
No. of allottees
Public Retail 44,06,000 12196 145,97,600 3.313118 7170797 10599
Non Retail 44,06,000 22 33,41,600 0.75842 1641442 22
Total 88,12,000 12218 17939200 2.035769 8812239 10621

As per the basis of allotment approved by Bombay Stock Exchange Limited on September 28, 2006, the Board of Directors have allotted the shares at its meeting held on September 29, 2006. Allotments have been made on a proportionate basis, rounded off to the nearest integer subject to a minimum of 400 shares per allottee. The details of category wise allotment are as under:

1. Retail Category (investors applying up to Rs.1,00,000/-) - the Company received 12196 valid applications for a total of 145,97,600 shares resulting in 3.313 times the subscription in this category and 81.37% of the total subscription received. The details of category wise allotment are as under:

Sr. no. Category Ratio No. of shares
per allottee
Sr. no. Category Ratio No. of shares
per allottee
1 400 28:57 400 9 3600 Firm 1768
2 800 56:57 400 10 4000 Firm 1965
3 1200 Firm 589 11 4400 Firm 2161
4 1600 Firm 786 12 4800 Firm 2358
5 2000 Firm 982 13 5200 Firm 2554
6 2400 Firm 1179 14 6000 Firm 2947
7 2800 Firm 1375 15 6400 Firm 3144
8 3200 Firm 1572

2. Non Retail Category (investors applying above Rs. 1,00,000/-) - the Company received 22 valid applications for a total of 3341800 shares resulting in 0.76 times the subscription in this category and 18.63% of the total subscription received. The details of category wise allotment are as under:

Sr. no. Category Ratio No. of shares
per allottee
Sr. no. Category Ratio No. of shares
per allottee
1 6800 Firm 3340 8 64800 Firm 31831
2 7600 Firm 3733 9 80000 Firm 39297
3 9200 Firm 4519 10 200000 Firm 98243
4 10000 Firm 4912 11 330000 Firm 162101
5 20000 Firm 9824 12 333200 Firm 163673
6 24800 Firm 12182 13 900400 Firm 442290
7 53200 Firm 26133 14 1231200 Firm 604784

Dates of despatch of refund orders, Credit to beneficiary account and listing

Activity Date of Completion
Despatch of Allotment Advice, Refund Orders and ECS Intimation Note 03.10.2006
Electronic credit to the beneficiary account of allottees 03.10.2006
Refund Instructions to the Clearing System (in case of Refunds through ECS system) 03.10.2006
Listing applications to BSE Filed on 03.10.2006 and is in the process of completion.

INVESTOR PLEASE NOTE
All future correspondence in this respect should be addressed to the Registrar to the Issue quoting Full Name of the first applicant, Serial No. of the application was lodged at the following address:

INVESTOR SERVICES OF INDIA LIMITED
IDBI Building, 2nd floor, Plot no. 39, 40 & 41, Sector-11, Rajiv Gandhi Marg, CBD Belapur,
Navi Mumbai- 400 614 Tel :+91-22 32660566 / 32660553 Fax : +91-22 2757 9645
E-mail : usher@isilindia.com,Website : www.isilindia.com
Contact Person : Mr. Nomani Nasir



Place : Mumbai
Date : 5th October 2006

For Usher Agro Limited
Sd/-
Vinod Kumar Chaturvedi
Managing Director

Usher Agro IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Usher Agro IPO?

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

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

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

  3. 3. What is Usher Agro IPO allotment process?

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