VMS Industries IPO Details

Issue Open May 30, 2011
Issue Close Jun 2, 2011
IPO Price ₹40
Face Value ₹10
IPO Size ₹25.75 Cr
Listing At BSE
IPO Lot Size 160

VMS INDUSTRIES LIMITED

(The Company was originally incorporated as 'Varun Management Services Private Limited' on December 2, 1991 under the Companies Act, 1956 at Bhavnagar vide Certificate of incorporation bearing Registration Number 04-16714 of 1991-92 issued by the Registrar of Companies, Gujarat, Dadra & Nagar Haveli ('RoC'). The name of our Company was changed to 'VMS Industries Private Limited' vide fresh Certificate of Incorporation dated May 22, 2007. Subsequently our Company was converted into a public limited company and its name was changed to 'VMS Industries Limitedvide fresh Certificate of Incorporation dated January 29, 2010. For further details of change in the name and registered office of our Company, please refer the section titled 'History and Certain Corporate Matters' on page 98 of the Red Herring Prospectus.)

Registered Office: 2nd Floor, Jain House, Opp. Vitthalwadi, Bhavnagar-364 003, Gujarat, India.
Tel.: +91-278-2432371; Fax: +91-278-2428352

Corporate Office: B-1006, Nar-Narayan Complex, Near Swastik Char Rasta, Navrangpura,
Ahmedabad - 380 009, Gujarat, India.

Tel: +91-79-4032 0484/ 3190 0484; Fax: +91-79-2692 0195;
Website: www.vmsil.comEmail: info@vmsil.com

Contact Person: Mr. Hemal Patel, Company Secretary & Compliance Officer

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 64,37,500 EQUITY SHARES OF RS 10/- EACH OF VMS INDUSTRIES LIMITED (THE 'COMPANY OR THE 'ISSUER') FOR CASH AT A PRICE OF RS 40/- PER EQUITY SHARE, INCLUDING A SHARE PREMIUM OF RS 30/- PER EQUITY SHARE, AGGREGATING TO RS 2575.00 LACS (THE 'ISSUE'). THE ISSUE WOULD CONSTITUTE 39.08% OF THE FULLY DILUTED POST-ISSUE PAID UP CAPITAL OF THE COMPANY.

THE ISSUE PRICE: RS 40/- PER EQUITY SHARE OF FACE VALUE OF RS 10/- EACH.
THE ISSUE PRICE IS 4 TIMES OF THE FACE VALUE.

Promoters of the Company: MR.  AJIT KUMAR JAIN,  MR. MANOJ  KUMAR JAIN AND
MRS. SANGEETA JAIN

This Issue is being made in terms of Regulation 26 (1) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and through the 100% Book Building process wherein upto 50% of the Issue shall be allocated on a proportionate basis to Qualified Institutional Buyer ('QIB') Bidders, out of which 5% shall be available for allocation on a proportionate basis to Mutual Funds only and the remaining QIB portion shall be available for allocation on proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received from them at or above the Issue Price. Further, not less than 15% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received from them at or above the Issue Price.

Our Company thanks all the Investors for their response to our Initial Public Offer (IPO) which opened for subscription on May 30, 2011 and closed on June 2, 2011. The Issue received 2,428 applications for 94,70,080 equity shares from Non-Institutional and Retail Individual Bidders resulting in 1.47 times subscription. However no applications were received under QIB category. The details of the applications received in the Issue from Non-Institutional and Retail Individual Investors categories are as under: (Before technical rejections)

Category

No. of Applications No.of Shares No.of times Subscription
Retail Individual Bidders 2414 8274880 3.67
Non Instititutional Bidders 14 1195200 1.24
Total 2428 94,70,080

Final Demand
The final demand at different bid prices is as under:

Bid Price No. of Equity Shares % to Total Cumulative Total Cumulative % to Total
36 3680 0.04 3680 0.04
37 1920 0.02 5600 0.06
38 1600 0.02 7200 0.08
39 480 0.00 7680 0.08
40 1568160 16.09 1575840 16.17
CUTOFF 8172000 83.83 9747840 100.00

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited ('BSE') on June 09, 2011

A. Allocation to Retail Individual Investors (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 40 per Equity Share, was finalized in consultation with BSE. This category has been over subscribed to the extent of 1.56 times. The total number of shares allotted in Retail Individual Investor category is 52,43,027 Equity Shares (including 727 Equity Shares for rounding off) to 2,216 successful applicants which includes the spill over of 29,89,175 equity shares from QIB Category. The category-wise details of the Basis of Allocation are as under:

Category No. of Applications % to total Total No. of Equity Shares applied % to total No. of Equity Shares allocated Ratio Total No. of Equity Shares allocated
160 414 17.51 66240 0.80 160 9:14 42560
320 81 3.43 25920 0.31 204 FIRM 16524
480 32 1.35 15360 0.19 306 FIRM 9792
640 28 1.18 17920 0.22 408 FIRM 11424
800 19 0.80 15200 0.18 510 FIRM 9690
960 12 0.51 11520 0.14 612 FIRM 7344
1120 22 0.93 24640 0.30 714 FIRM 15708
1280 17 0.72 21760 0.26 815 FIRM 13855
1440 2 0.08 2880 0.03 917 FIRM 1834
1600 7 0.30 11200 0.14 1019 FIRM 7133
1760 1 0.04 1760 0.02 1121 FIRM 1121
2240 2 0.08 4480 0.05 1427 FIRM 2854
2400 209 8.84 501600 6.10 1529 FIRM 319561
2560 2 0.08 5120 0.06 1631 FIRM 3262
2720 2 0.08 5440 0.07 1733 FIRM 3466
3200 3 0.13 9600 0.12 2039 FIRM 6117
3520 1 0.04 3520 0.04 2242 FIRM 2242
3680 1 0.04 3680 0.04 2344 FIRM 2344
4000 1 0.04 4000 0.05 2548 FIRM 2548
4320 1 0.04 4320 0.05 2752 FIRM 2752
4480 3 0.13 13440 0.16 2854 FIRM 8562
4640 1 0.04 4640 0.06 2956 FIRM 2956
4800 1 0.04 4800 0.06 3058 FIRM 3058
4960 1502 63.54 7449920 90.53 3160 FIRM 4746320

B. Allocation to Non Institutional Investors (After Technical Rejections)

The Basis of Allocation to the Non-Institutional Investors, who have bid at the Issue Price Rs 40 per Equity Share, was finalized in consultation with BSE. This category has been subscribed to the extent 0.62 times. The total number of shares alloted in this category is 11,95,200 Equity Shares to 14 successful applicants, which includes the spill over of 2,29,575 equity shares from QIB Category. The category-wise details of the Basis of Allocation are under:

Category No. of Applications % to total Total No. of Equity Shares applied % to total No. of Equity Shares allocated Ratio Total No. of Equity Shares allocated
12480 1 7.14 12480 1.04 12480 FIRM 12480
22400 1 7.14 22400 1.87 22400 FIRM 22400
33600 2 14.29 67200 5.62 33600 FIRM 67200
37600 1 7.14 37600 3.15 37600 FIRM 37600
50080 1 7.14 50080 4.19 50080 FIRM 50080
56160 3 21.43 168480 14.10 56160 FIRM 168480
100000 1 7.14 100000 8.37 100000 FIRM 100000
112480 1 7.14 112480 9.41 112480 FIRM 112480
124960 1 7.14 124960 10.46 124960 FIRM 124960
249600 1 7.14 249600 20.88 249600 FIRM 249600
249920 1 7.14 249920 20.91 249920 FIRM 249920

The Board of Directors of the Company at its meeting held on June 10, 2011 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 allotment advice and/or notices have been dispatched to the address of the investors as registered with the depositories on June 11, 2011 and the instructions to Self Certified Syndicate Bank ('SCSBs') have been dispatched on June 11, 2011. 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 BankAccount details as registered, if any, with the depositories. The shares allocated to successful applicants are 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 to trading on BSE on or before June 15, 2011.

INVESTORS PLEASE NOTE

This details of the allocation made would be hosted on the website of Registrars to the Issue, Cameo Corporate Services Limited at Website: www.cameoindia.com

All future correspondence in this regard may kindly be addressed to the Registrars to the Issue quoting full name of the First/Sole applicant, Serial number of the Bid cum Application Form, number of 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:

Cameo Corporate Services Limited
'Subramanian Building', No. 1 Club House Road,
Chennai - 600 002.
Tel.: +91-44-2846 0390 / 2846 0425,
Fax: 91-44- 2846 0129 E-mail: vmsipo@cameoindia.com,
Website: www.cameoindia.com

Place:   Bhavnagar
Date :  11-06-2011

For VMS Industries Limited
on behalf of Board of Directors
Sd/-
Managing Director

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF VMS INDUSTRIES LIMITED.

Note: All capitalized terms used and note defined herein shall have the respective meanings assigned to them in the prospectus

VMS Industries IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in VMS Industries IPO?

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

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

    Visit the VMS Industries IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is VMS Industries IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in VMS Industries 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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