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Vascon Engineers IPO Details

Issue Open Jan 27, 2010
Issue Close Jan 29, 2010
IPO Price ₹165
Face Value ₹10
IPO Size ₹178.20 Cr
Listing At BSE, NSE
IPO Lot Size 35

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.

Vascon Engineers IPO Basis of Allotment FAQs

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

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

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

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