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 |
|