VASCON ENGINEERS
LIMITED
Vascon Engineers Limited (the"Company") or
("Issuer") was originally incorporated on January 1,1986 as a private
limited company under the provisions of the Companies Act, 1956 Maharashtra.
Registered Office:: 15/16, Hazari Baug, L.B.S.Marg, Vikhroli (W),
Mumbai - 400 083, Maharashtra, India, www.vascon.com
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 10,800,000 EQUITY SHARES OF RS.10 EACH FOR CASH AT A PRICE OF
RS.165 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS. 155 PER EQUITY SHARE, AGGREGATING
RS. 1,782-00 MILLION (THE "ISSUE") BY THE ISSUER. THE ISSUE COMPRISES A NET
ISSUE TO THE PUBLIC OF 10,700,000 SHARES OF RS. 10 EACH (THE "NET ISSUE") AND A
RESERVATION OF UP TO 100,000 EQUITY SHARES OF RS. 10 EACH FOR ELIGIBLE EMPLOYEES (THE
"EMPLOYEE RESERVATION PORTION").THE ISSUE WOULD CONSTITUTE 11.95% OF THE FULLY
DILUTED POST ISSUE PAID-UP CAPfTAL OF THE COMPANY AND THE NET ISSUE WOULD CONSTITUTE
11.84% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY.THE ISSUE PRICE IS
RS-165. THE FACE VALUE OF THE EQUITY SHARES IS RS. 10 AND THE ISSUE PRICE IS 16.5 TIMES OF
THE FACE VALUE
THE MINIMUM LOT SIZE IS 35 SHARES
The Issue is made through the 100% Book Building Process wherein at least 60% of the
net Issue was to be allocated on a proportionate basis to Qualified Institutional Buyers
("QIBs") (inducing 5% of the QIB portion that was to be specifically allotted to
mutual funds), further,up to 10% of the Issue shall be available for allocation on a
proportionate basis to Non-Institutional Bidders and up to 30% of the Issue shall be
available for allocation on a proportionate basis to Retail Bidders, subject to valid bids
being received at or above the Issue Price.The Issue received 8,073 applications for
12,575,490 Equity Shares resulting in 1.16 times subscription. The details of the
applicationsreceived in the Issue from QIBs, Non-Institutional, Retail Individual
Investors and Employee categories are as under: (Before technical Rejections}
|
Category
|
No. of Applications |
No. of Equity Snares |
No. of times subscription
|
A |
Retail Individual Bidders |
7781
|
1563360
|
0.48
|
B |
Non Institutional Bidders |
60
|
3771250
|
3.52
|
C |
Qualified Institutional Bidders |
19
|
7191660
|
1.12
|
D |
Employees |
213
|
49200
|
0.49
|
|
Total |
8073
|
12575490
|
1.18
|
Final Demand
A summary of the final demand at different bid prices is as under
Bid Price
|
No. of
Shares |
% to total
|
Cumulative Total
|
Cumulative%
of Total
|
165
|
9396520
|
71.51
|
13140400
|
100.00 |
166
|
35
|
0.00
|
3743880
|
28.49 |
167
|
140
|
0.00
|
3743845
|
26.49 |
168
|
35
|
0.00
|
3743705
|
28.49 |
169
|
0
|
0.00
|
3743670
|
28.49 |
170
|
385
|
0.00
|
3743670
|
28.49 |
171
|
0
|
0.00
|
3743285
|
28.49 |
172
|
35
|
0.00
|
3743285
|
28.49 |
173
|
70
|
0.00
|
3743250
|
28.49 |
174
|
0
|
0.00
|
3743180
|
28.49 |
175
|
602245
|
4.58
|
3743180
|
28.49 |
176
|
0
|
0.00
|
3140935
|
23.90 |
177
|
0
|
0.00
|
3140935
|
23.90 |
176
|
35
|
0.00
|
3140935
|
23.90 |
179
|
0
|
0.00
|
3140900
|
23.90 |
180
|
210
|
0.00
|
3140900
|
23.90 |
181
|
0
|
0.00
|
3140690
|
23.90 |
182
|
0
|
0.00
|
3140690
|
23.90 |
183
|
0
|
0.00
|
3140890
|
23.90 |
184
|
0
|
0.00
|
3140890
|
23.90 |
135
|
3140690
|
23.90
|
3140690
|
23.90 |
T he Basis ol Allocation was finalized in consultation with the National Stock Exchange
of India Limitea ( "NSE" ) on February 8, 2010.
A. Employees
The Basis of Allocation to the employees of Vascon Engreers Ltd, who have bid at cut-off
or at the Issue Price of Rs.165/- per Equity Share, was finalized in consultation with
NSE. The total nunber of shares alloted to this category is 49,140. The under subscribed
portion of 50,860 eqiity shares have been spilled over to QIBs, Non-Institutional Bidders
and Retail Individual Investor Category in the ratio of 60:10:30.
B. Allocation to Retail Individual Investors (Including ASBA Applications)
(After Technical Rejections)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at
the Issue Price of Rs.165/- per Equity Share or above, was finalized in consultation with
NSE. This category has been over-subscribed to the extent of 0.48 times and hence
allotment was done on full and firm basis to all valid applicants. Overall 7,695
applications for 1,542,450 Equity Shares were found valid and they were considered for
allotment. The above includes 1,046 valid applications for 177,890 equity shares made
under the ASBA process. The total number of shares allotted in Retail Individual Investor
category is 1,542,450 Equity Shares to 7,695 applicants. Under-subscription in the Retail
Portion of 1,682.808 shares has been added to the Qualified Institutional and Non
Institutional Category in the ratio of the over subscription in these categories which is
24:76
C. Allocation to Non-Institutional Investors (After Technical Rejection)
The Basis of Allocation to the Non-Institutional Investors, who have bid at the Issue
Price of Rs.165/- per Equity Share or above, was finalized in consultation with NSE. This
category has been over-subscribed to the extent of 1.44 times. Overall 57 applications for
3,393,965 equity shares were found valid and they were considered for allotment. The total
number of equity shares allotted in this category is 2,354,759 (including spill over of
1,284,759 equity shares from other categories) to 57 applicants. The category-wise details
of the Basis of Allocation (sample) are as under:
Category |
No. of
Applications |
% to
Total |
Total No. of
Equity Shares
applied |
% of
Total |
No. of
Equity Shares
allocated |
Ratio |
Total No. of
Equity Shares
allocated |
700
|
1
|
1.75 |
700
|
0.02
|
486
|
FIRM |
486 |
305
|
2
|
3.51 |
1610
|
0.05
|
559
|
FIRM |
1118 |
875
|
2
|
3.51 |
1750
|
0.05
|
607
|
FIRM |
1214 |
1015
|
2
|
3.51 |
2030
|
0.06
|
704
|
FIRM |
1408 |
1050
|
4
|
7.02 |
4200
|
0.12
|
729
|
FIRM |
2916 |
1085
|
2
|
3.51 |
2170
|
0.06
|
753
|
FIRM |
1506 |
1750
|
4 |
7.02 |
7000
|
0.21
|
1214
|
FIRM |
4B56 |
2030
|
1 |
1.75 |
2030
|
0.06
|
1408
|
FIRM |
1408 |
2170
|
2 |
3.51 |
4340
|
0.13
|
1506
|
FIRM |
3012 |
2695
|
3 |
5.26 |
8085
|
0.24
|
1870
|
FIRM |
5610 |
3675
|
1 |
1.75 |
3675
|
0.11
|
2550
|
FIRM |
2550 |
3990
|
1 |
1.75 |
3990
|
0.12
|
2768
|
FIRM |
2768 |
4795
|
1 |
1.75 |
4795
|
0.14
|
3327
|
FIRM |
3327 |
4900
|
1 |
1.75 |
4900
|
0.14
|
3400
|
FIRM |
3400 |
5250
|
1 |
1.75 |
5250
|
0.15
|
3642
|
FIRM |
3642 |
5425
|
1 |
1.75 |
5425
|
0.16
|
3764
|
FIRM |
3764 |
5705
|
1 |
1.75 |
5705
|
0.17
|
3958
|
FIRM |
3958 |
6055
|
1 |
1.7S |
6055
|
0.18
|
4201
|
FIRM |
4201 |
8085
|
3 |
5.26 |
24255
|
0.71
|
5609
|
FIRM |
16827 |
9100
|
1 |
1.75 |
9100
|
0.27
|
6314
|
FIRM |
6314 |
9135
|
2 |
3.51 |
1B270
|
0.54
|
6338
|
FIRM |
12676 |
10010
|
1 |
1.75 |
10010
|
0.29
|
6945
|
FIRM |
6945 |
10500
|
1 |
1.75 |
10500
|
0.31
|
7285
|
FIRM |
7285 |
10815
|
1 |
1.75 |
10615
|
0.32
|
7503
|
FIRM |
7503 |
12110
|
2 |
3.51 |
24220
|
0.71
|
8402
|
FIRM |
16804 |
13510
|
1 |
1.75 |
13510
|
0.40
|
9373
|
FIRM |
9373 |
14000
|
1 |
1.75 |
14000
|
0.41
|
9713
|
FIRM |
9713 |
21000
|
1 |
1.75 |
21000
|
0.62
|
14570
|
FIRM |
14570 |
26950
|
2 |
3.51 |
53900
|
1.59
|
18698
|
FIRM |
37396 |
30310
|
1 |
1.75 |
30310
|
0.89
|
21029
|
FIRM |
21029 |
54075
|
1 |
1.75 |
54075
|
1.59
|
37517
|
FIRM |
37517 |
121240
|
1 |
1.75 |
121240
|
3.57
|
84117
|
FIRM |
84117 |
181790
|
1 |
1.75 |
181790
|
5.36
|
126127
|
FIRM |
126127 |
181825
|
1 |
1.75 |
181825
|
5.36
|
126151
|
FIRM |
126151 |
303065 |
1 |
1.75 |
303065
|
8.93
|
210268
|
FIRM |
210268 |
454545
|
1 |
1.75 |
454545
|
13.39
|
315365
|
FIRM |
315365 |
571445 |
1 |
1.75 |
571445
|
16.84
|
396471
|
FIRM |
396471 |
606200 |
2 |
3.51 |
1212400
|
35.72
|
420562
|
FIRM |
841164 |
The Basis of Allocation to the Qualified Institutional Investors, who have Bid at the
Issue Price of Rs.165/-per Equity Share or above, was finalized in consultation with NSE.
Overall 19 applications tor 7,191,660 Equity Shares were found valid and they were
considered for allotment, (including spill over of 433651 equity shares from other
categories)
Category
|
FIs/Banks |
FIls
|
MFs
|
ICs
|
VCs |
Others |
Total |
No. of Equity Shares |
2,592,674 |
1,197,717 |
3,005,565 |
57,695
|
|
|
6,853,651 |
The Board of Directors of the Company at its meeting held at Hyderabad on 08.02.2010
has approved the basis of allocation of Equity Shares of the Issue and has allotted the
Shares to various successful applicants.
The CAN-cum-Refund Orders and Refund credit advice have been dispatched to the address of
the investors as registered with the depositories. 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 Account details as registered, if any, with the depositories.
The Equity Shares allocated to successful applicants have been credited to their
beneficiary accounts subject to validation of the account details with the depositories
concerned. The Equity Shares of the Company shall be listed and admitted for trading on
the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited with
effect from February 15. 2010.
INVESTORS PLEASE NOTE
These 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 correspondences In this regard may kindly be addressed to the
Registrars to the Issue quoting full name ot the First/ Sole applicant, Serial number of
the bid-cum-appllcation form, number of Equity 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:
Karvy Computershare Private Limited
Unit:VASCON ENGINEERS LIMITED: Plot No. 17 to 24, Vitharao Nagar,
Madhapur, Hyderabad - 500 081, Fax: 040-23420814
Email: ainward.ris@Karvy.com
TOLL FREE - HELPLINE NUMBER
1-800-3454001
Place: Pune
Date : February 10, 2010 |
For Vascon Engineers Limited
Sd/-
M. Krishnamurthi
Company Secretary |
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET
PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF VASCON ENGINEERS
LIMITED. |