VA Tech IPO Details

Issue Open Sep 22, 2010
Issue Close Sep 27, 2010
IPO Price ₹1310
Face Value ₹5
IPO Size ₹125.00 Cr
Listing At BSE, NSE
IPO Lot Size 5

VATECH WABAG LIMITED

(Our Company was incorporated as a public limited company called Balcke Durr Cooling Towers Limited on February 17, 1995 at Chennai. Our Company received a certificate of commencement of business on March 8, 1995. The name of our Company was changed to Balcke Durr and Wabag Technologies Limited on September 12, 1996 by a special resolution of the members dated July 29, 1996. The name of our Company was further changed to VA Tech Wabag Limited on April 4, 2000 by a special resolution of the members dated March 10, 2000. Registered and Corporate Office: No.11, Murray's Gate Road, Alwarpet, Chennai 600 018, Tamil Nadu. Contact Person: S. Ramasundaram, Company Secretary and Compliance Officer Tel:+91 44 4223 2411, Fax:+91 44 4223 2324, Email: companysecretary@wabag.in
Website: www.wabag.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 36,07,581 EQUITY SHARES OF Rs. 5 EACH OF VA TECH WABAG LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF Rs. 1,310 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs. 1,305 PER EQUITY SHARE), CONSISTING OF A FRESH ISSUE OF 9,54,198 EQUITY SHARES AGGREGATING TO RS. 12,500 LAKHS AND AN OFFER FOR SALE OF 26,53,383 EQUITY SHARES BY INDIA ADVANTAGE FUND I, DYNAMIC INDIA FUND I, RAINBOW FUND TRUST, GLG EMERGING MARKETS FUND AND PASSPORT INDIA INVESTMENTS (MAURITIUS) LIMITED (THE "SELLING SHAREHOLDERS") AGGREGATING TO RS. 34,759.32 LAKHS. THE FRESH ISSUE AND THE OFFER FOR SALE AGGREGATE TO Rs. 47,259.31 LAKHS (THE "ISSUE"). THE ISSUE WILL CONSTITUTE 34.37% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF OUR COMPANY.

THE ISSUE PRICE IS RS. 1,310. THE FACE VALUE OF THE EQUITY SHARES IS RS. 5 AND THE ISSUE PRICE IS 262 TIMES THE FACE VALUE.

THE COMPANY HAS ALLOTTED 541,136 EQUITY SHARES TO ANCHOR INVESTORS AT RS 1310 PER EQUITY SHARE IN ACCORDANCE WITH THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009, AS AMENDED ("SEBI ICDR REGULATIONS").
DATE OF LISTING - OCTOBER 13,2010.

The Issue is being made through the 100% Book Building Process wherein not more than 50% of the Issue shall be available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs"), 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only and the remainder 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. Further, not less than 15% of the Issue will be available for allocation on a proportionate basis to Non-lnstitutional Bidders and not less than-35% of the Issue will be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price.

Potential Investors may participate In this Issue through an Application Supported by Blocked Amount ("ASBA") process providing details about the bank account which will be blocked by the Self Certified Syndicate Bank for the same. All Bidders (other than Anchor Investors) can participate through the ASBA process. The Issue received 185,672 applications for 114,211,470 Equity Shares resulting In 31.66 times subscription. . The details of the applications received In the Issue from Qualified Institutional Buyers, Non-Institutional, Retail Individual Investors and Anchor Investor categories are as under: (Before technical rejections)

Sr.
No.
Category No. of Applications
Received
No. of Equity
Shares
No. of times
subscribed
A Retail Individual Bidders 184973 10836275 8.58
B Non Institutional Bidders 563 55090250 101.80
C Qualified Institutional Bidders 110 46694210 36.98
D Anchor investors 26 1590735 2.94
Total 185672 114211470 31.66

Final Demand:
A summary of the final demand as per the BSE arid the NSE as on the Bid/ Issue Closing Date at different aids is as detailed hereunder:

Bid
Price
No. of
Shares
% to
total
Cumulative
Total
Cumulative
% of Total
1230 816250 0.70 816250 0.70
1231 105 0.00 816355 0.70
1232 20 0.00 816375 0.70
1233 100 0.00 816475 0.70
1235 110 0.00 816585 0.70
1239 10 0.00 816595 0.70
1240 595 0.00 817190 0.70
1241 80 0.00 817270 0.70
1242 80 0.00 817350 0.70
1243 1580 0.00 818930 0.71
1245 470 0.00 819400 0.71
1249 480 0.00 819880 0.71
1250 437625 0.38 1257505 1.08
1251 5 0.00 1257510 1.08
1255 30 0.00 1257540 1.08
1260 435 0.00 1257975 1.08
1265 70 0.00 1258045 1.08
1268 15 0.00 1258060 1.08
1269 315 0.00 1258375 1.08
1270 994460 0.86 2252835 1.94
1275 95265 0.08 2348100 2.02
1280 81045 0.07 2429145 2.09
1281 25 0.00 2429170 2.09
1285 110 0.00 2429280 2.09
1287 25 0.00 2429305 2.09
1290 500 0.00 2429805 2.09
1294 5 0.00 2429810 2.09
1295 20 0.00 2429830 2.10
1299 10 0.00 2429840 2.10
1300 2005 0.00 2431845 2.10
1301 45 0.00 2431890 2.10
1302 20 0.00 2431910 2.10
1305 910 0.00 2432820 2.10
1307 5 0.00 2432825 2.10
1309 255 0.00 2433080 2.10
1310 103275940 89.05 105709020 91.14
Cutoff 10272500 8.86 115981520 100.00

The basis of allocation was finalized in consultation with the Designated Stock Exchange, being the National Stock Exchange Limited ("NSE") on October 11th, 2010.

A. Allocation to Retail Individual Investors (Including Applications Supported by Blocked Amount ("ASBA"))
(After Technical Rejections)

The basis of allocation to the Retail Individual Investors, who have Bid at cut-off or above the Issue Price of Rs.1,310/- per Equity Share, was finalized in consultation with NSE. This category has been subscribed to the extent of 8.47 times and hence Allotment was done on full and firm basis to all valid applicants. There were 28491 applications for 1486430 Equity Shares made under ASBA process. Of these 28002 applications for 1469370 Equity Shares were found valid and they were considered for Allotment. The total number of shares Allotted in Retail Individual Investor category Is 1,262,654 Equity Shares which were Allotted to 153,856 successful applicants, The sample of category-wise details of the basis of allocation are as under:

Category No. of
Applications
% of
total
Total No.
of Equity
Shares applied
% of
total
No. of
Equity
Shares
allocated
Ratio Total No.
of Equity
Shares allocated
5 14266 7.83 71330 0.67 5 2:15 9510
10 8825 4.84 88250 0.82 5 4:17 10380
15 4679 2.57 70185 0.66 5 6:17 8255
20 5007 2.75 100140 0.94 5 8:17 11780
25 3604 1.98 90100 0.84 5 10:17 10600
30 2796 1.53 83880 0.78 5 12:17 9870
35 5733 3.15 200655 1.87 5 14:17 23605
40 3994 2.19 159760 1.49 5 16:17 18795
45 1165 0.64 52425 0.49 5 FIRM 5825
50 3196 1.75 159800 1.49 6 FIRM 19176
55 785 0.43 43175 0.40 6 FIRM 4710
60 1115 0.61 66900 0.63 7 FIRM 7805
65 638 0.35 41470 0.39 8 FIRM 5104
70 1060 0.58 74200 0.69 8 FIRM 8480
75 125338 68.79 9400350 87.83 8 FIRM 1002704
Additional 1 11:13 106055

B. Allocation to Non Institutional Investors (After Technical Rejections)
The basis of allocation to the Non-Institutional Investors, who have Bid at or above the Issue Price of Rs.1,310/- per Equity Share or above, was finalized in consultation with NSE. This category has been subscribed to the extent of 101.24 times. Overall 439 applications for 541,138 Equity Shares were found valid and they were considered for Allotment. The sample of category-wise details of the basis of allocation are as under:

Category No. of
Applications
% of
total
Total No.
of Equity
Shares applied
% of
total
No. of
Equity
Shares
alloeatad
Ratio Total No.
of Equity
Shares allocated
80 23 4.31 1840 0.00 5 3:23 15
85 4 0.75 340 0.00 5 1:4 5
90 5 0.94 450 0.00 5 1:5 5
95 6 1.12 570 0.00 5 1:6 5
100 35 6.55 3500 0.01 5 1:5 35
105 7 1.31 735 0.00 5 1:7 5
110 1 0.19 110 0.00 5 FIRM 5
120 3 0.56 360 0.00 5 1:3 5
125 2 0.37 250 0.00 5 1:2 5
140 1 0.19 140 0.00 5 FIRM 5
150 14 2.62 2100 0.00 5 2:7 20
155 1 0.19 155 0.00 5 FIRM 5
160 1 0.19 160 0.00 5 FIRM 5
175 2 0.37 350 0.00 5 1:2 5
180 1 0.19 180 0.00 5 FIRM 5
190 1 0.19 190 0.00 5 FIRM 5
200 10 1.87 2000 0.00 5 2:5 20
205 1 0.19 205 0.00 5 FIRM 5
210 1 0.19 210 0.00 8 FIRM 5
220 1 0.19 220 0.00 5 FIRM 5
230 2 0.37 460 0.00 5 1:2 5
250 1 0.19 250 0.00 5 FIRM 5
270 1 0.19 270 0.00 5 FIRM 5
275 1 0.19 275 0.00 5 FIRM 5
295 1 0.19 295 0.00 5 FIRM 5
300 4 0.75 1200 0.00 5 1:2 10
325 1 0.19 325 0.00 5 FIRM 5
375 3 0.56 1125 0.00 5 FIRM 10
380 14 2.62 5320 0.00 5 FIRM 50
400 4 0.75 1600 0.00 5 FIRM 15
425 1 0.19 425 0.00 5 FIRM 5
440 1 0.19 440 0.00 5 FIRM 5
840 1 0.19 840 0.00 8 FIRM 8
920 1 0.19 920 0.00 9 FIRM 9
1000 12 2.25 12000 0.02 10 FIRM 120
1200 1 0.19 1200 0.00 12 FIRM 12
1400 1 0.19 1400 0.00 14 FIRM 14
1500 5 0.94 7500 0.01 15 FIRM 75
1620 1 0.19 1620 0.00 16 FIRM 16
1800 1 0.19 1800 0.00 18 FIRM 18
1900 2 0.37 3800 0.01 19 FIRM 38
2000 8 1.50 16000 0.03 20 FIRM 160
3000 2 0.37 6000 0.01 30 FIRM 60
4000 1 0.19 4000 0.01 40 FIRM 40
5200 1 0.19 5200 0.01 51 FIRM 51
5250 1 0.19 5250 0.01 52 FIRM 52
5550 1 0.19 5550 0.01 55 FIRM 55
10000 4 0.75 40000 0.07 99 FIRM 396
20000 6 1.12 120000 0.22 198 FIRM 1188
28000 1 0.19 28000 0.05 277 FIRM 277
32000 1 0.19 32000 0.06 316 FIRM 316
39000 1 0.19 39000 0.07 385 FIRM 385
40000 1 0.19 40000 0.07 395 FIRM 395
43000 1 0.19 43000 0.08 425 FIRM 425
50000 1 0.19 50000 0.09 494 FIRM 494
100000 1 0.19 100000 0.18 988 FIRM 988
119000 1 0.19 119000 0.22 1175 FIRM 1175
150000 1 0.19 150000 0.27 1482 FIRM 1482
160000 2 0.37 320000 0.58 1581 FIRM 3162
240000 1 0.19 240000 0.44 2371 FIRM 2371
300000 3 0.56 900000 1.64 2963 FIRM 8889
400000 3 0.56 1200000 2.19 3951 FIRM 11853
590000 1 0.19 590000 1.08 5828 FIRM 5828
1200000 1 0.19 1200000 2.19 11853 FIRM 11853
1400000 3 0.56 4200000 7.67 13828 FIRM 41484
1526715 2 0.37 3053430 5.57 15075 FIRM 30150
1793890 1 0.19 1793890 3.27 17711 FIRM 17711
1900000 1 0.19 1900000 3.47 18758 FIRM 18758
1908395 3 0.56 5725185 10.45 18838 FIRM 56514

C. Allocation to QIBs
The basis of allocation to the Qualified institutional Bidders, who have Bid above the Issue price of Rs.1,310/- per Equity Share was finalized on the price priority basis. Overall 107 applications for 43545710 Equity Shares were found valid and the quantum of shares Allotted to this category Is 1262653 and on proportionate basis.

Category FIs/Banks Flls MFs ICs VCs Total
No.of equity Shares allocated 344307 569423 238546 110076 301 1262653

D. Anchor Investors

The Company Allotted 541,136 Equity Shares to 26 Anchor Investors in consultation with the Lead Managers. The IPO Committee of the Board of Directors of the Company at its Meeting held at Chennai on 11th October, 2010: has approved the basis of allocation of Equity Shares In the Issue and has accordingly Allotted the Equity Shares to the Bidders.
The CAN-cum-Refund Orders and Allotment advice and/ or notices have been dispatched to the address of the Bidders as registered with the depositories on or prior to 11.10.2010. Further, the Instructions to Self Certified Syndicate Banks have been dispatched on or prior to 11.10.2010. In case the same is not received within 10 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 are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. The Company Is taking steps to get the Equity Shares admitted for trading on the Bombay Stock Exchange Limited and National Stock Exchange of India Limited within seven working days from the date of approval of the basis of allocation.

INVESTORS PLEASE NOTE
The details of the allocation made would be hosted on the website of Registrar to the Issue, Karvy Computershare Private Limited at http://karisma.karvy.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 the Syndicate, place where the Bid was submitted and payment details at the address given below:

Karvy Computershare Private Limited
Unit: VA Tech Wabag Limited
Plot No. 17 to 24, Vithalrao Nagar, Hitech City Road,
Madhapur, Hyderabad - 500 081,
Fax: 040-23420814
Email: einward.ris@karvy.com

TOLL FREE-HELPLINE NUMBER
1-800-3454001

Place: Chennai
Date : October 12,2010
For VA Tech Wabag Limited
sd/-
S.Ramasundaram

Company Secretary

VA Tech IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in VA Tech IPO?

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

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

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

  3. 3. What is VA Tech IPO allotment process?

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