PORWAL AUTO COMPONENTS LIMITED
(Our Company was incorporated as Porwal Auto Components Private Limited
on 03rd February, 1992 under the Companies Act, 1956 with the Registration No. 10-06912 of
1992. The Company was converted into a Public Limited as "Porwal Auto Components
Limited" after passing the necessary resolution in the Extra Oridinary General
Meeting held on September 09,1992 and the Registrar Of Companies; Gwalior Madhya Pradesh
had issued a fresh certificate of incorporation on 12th October, 1992}
Registered Office: Kanti Mansion. 6-Murai Mohalla, Indore - 452001,
Madhya Pradesh, India. Tel: (0731) 4051704
Fax No : (0731) 4051709. Factory: 209 Sector I
Industrial Area, Pithampur - 454775, Madhya Pradesh, India.
Tel: (07292) 405101 Fax No : (07292) 405120. Website:
www.porwalauto.com, E-mail:
admin@porwalauto.com; Contact Person :
Mrs. Raina Ajmera, Company Secretary and Compliance Officer
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 50,00,000 EQUITY SHARES OF BS. 10/- EACH AT A PRICE OF RS. 75/- PER
EQUITY SHARE FOR CASH AGGREGATING RS 3750.00 LAKHS (HEREINAFTER REFERRED TO AS THE
"ISSUE"). THE ISSUE CONSTITUTE 33.11% OF THE POST ISSUE PAID-UP CAPITAL OF THE
COMPANY.
ISSUE PRICE: RS. 75/- PER EQUITY SHARE OF FACE VALUE RS. 10/-EACH THE ISSUE PRICE IS 7.5
TIMES OF THE FACE VALUE.
The Issue was made through the 100% Book Building Process where up to 50% of the Issue
was to be allocated on a proportionate basis to Qualified Institutional Buyers
("QIBs"), out of which 5% was to be made available for allocation on a
proportionate basis to Mutual Funds only and the remainder was to be made available for
allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid
Bids being received at or above the Issue Price. Further, upto l5% of the Issue was to be
made available for allocation on a proportionate basis to Non-Institutional Bidders and
not less than 35% of the Issue was to be made available for allocation on a proportionate
basis to Retail Individual Bidders, subject to valid Bids being received at or above the
Issue Price.
The Board of Directors of Porwal Auto Components Limited wish to thank the investing
public for their response to the Issue which opened for subscription on December 17, 2007
and closed on December 20, 2007. The basis of allotment has been finalized in consultation
with the Bombay Stock Exchange Limited (BSE), the Designated Stock Exchange on January
03,2008 and the equity shares have been allotted as per details given below:
Particulars |
No of equity shares offered |
50,00.000 |
No of valid application received |
9,604 |
Total no. of equity shares applied forS |
50,06,720 |
No. of times oversubscribed |
1.00 |
Category |
No. of Applications |
No. of Equity Shares bided |
Subscription (times) |
Qualified Institutional Buyers |
4 |
457360 |
0.18 |
Non-Institutional Bidders |
12 |
1106800 |
1.48 |
Retail Individual Bidders |
9588 |
3442560 |
1.97 |
Final Demand
A sample of the final demand at different bid Drices is as under:
Bid Price |
No. of Equity Shares |
% of Total |
Cumulative Shares |
Cumulative % |
68 |
88080 |
1.69 |
5194000 |
100.00 |
69 |
1040 |
0.02 |
5105920 |
98.30 |
70 |
10960 |
0.21 |
5104880 |
98.28 |
71 |
1840 |
0.04 |
5093920 |
98.07 |
72 |
2240 |
0.04 |
5092080 |
98.04 |
73 |
1360 |
0.03 |
5089840 |
97.99 |
74 |
160 |
0.00 |
5088480 |
97.97 |
75 |
1061040 |
20.43 |
5088320 |
97.97 |
Cut-off |
4027280 |
77.54 |
4027280 |
77.54 |
Total |
5194000 |
100.00 |
|
|
The Basis of Allotment was finalised in consultation with the Designated Stock Exchange
- the Bombay Slock Exchange of India Limited ("BSE") on January 03,2008.
A. ALLOTMENT TO RETAIL INDIVIDUAL BIDDERS
The Basis of Allotment to the Retail Individual Bidders, who have bid at cut-off or at the
Issue Price of Rs. 75/- per Equity Share, was finalized in consultation with BSE. The
Company has received 9,588 valid applications for 34,42,560 Equity Shares in this category
resulting in 1.97 times subscription. The number of Equity Shares allotted to Retail
Individual Bidders is 34.42,560. Full and firm allotment has been made to all valid
applications in this category.
Category
(No. of shares) |
No. of Applns. |
% to Total Applns. |
Total No. of Shares Applied |
% to Total Shares bid |
No. of Shares Allotted |
Ratio |
Total No. of Shares Allotted |
80 |
3179 |
33.15 |
254320 |
7.39 |
80 |
FIRM |
254320 |
160 |
1820 |
18.98 |
291200 |
8.46 |
160 |
FIRM |
291200 |
240 |
931 |
9.71 |
223440 |
6.49 |
240 |
FIRM |
223440 |
320 |
644 |
6.72 |
206080 |
5.99 |
320 |
FIRM |
206080 |
400 |
632 |
6.59 |
252800 |
7.34 |
400 |
FIRM |
252800 |
480 |
198 |
2.06 |
95040 |
2.76 |
480 |
FIRM |
95040 |
560 |
137 |
1.43 |
76720 |
2.23 |
560 |
FIRM |
76720 |
640 |
581 |
6.06 |
371840 |
10.80 |
640 |
FIRM |
371840 |
720 |
117 |
1.22 |
84240 |
2.45 |
720 |
FIRM |
84240 |
800 |
231 |
2.41 |
184800 |
5.37 |
800 |
FIRM |
184800 |
880 |
17 |
0.18 |
14960 |
0.43 |
880 |
FIRM |
14960 |
960 |
37 |
0.39 |
35520 |
1.03 |
960 |
FIRM |
35520 |
1040 |
17 |
0.18 |
17680 |
0.51 |
1040 |
FIRM |
17680 |
1120 |
14 |
0.15 |
15680 |
0.46 |
1120 |
FIRM |
15680 |
1200 |
50 |
0.52 |
60000 |
1.74 |
1200 |
FIRM |
60000 |
1280 |
983 |
10.25 |
1258240 |
36.55 |
1280 |
FIRM |
1258240 |
Total |
9588 |
100.00 |
3442560 |
100.00 |
|
|
3442560 |
B. ALLOTMENT TO NON-INSTITUTIONAL BIDDERS
The Basis of Allotment to the Non-Institutional Bidders, who have bid for at the Issue
Price of Rs. 75/- per Equity Share, was finalized in consultation with BSE. The Banks have
received 12 valid applications (including 3 direct applications) for 11,06,800 Equity
Shares in this category resulting in 1.48 times subscription. The number of Equity Shares
allotted to Non-Institutional Bidders is 11,00,080. Full and firm allotment has been made
to all valid applications in this category.
Category
(No. of shares) |
No. of Applns. |
% to Total Applns. |
Total No. of Shares Applied |
% to Total Shares bid |
No. of Shares Allotted |
Ratio |
Total No .of Shares Allotted |
1600 |
2 |
16.67 |
3200 |
0.29 |
1600 |
FIRM |
3200 |
1920 |
1 |
8.34 |
1920 |
0.17 |
1920 |
FIRM |
1920 |
4000 |
1 |
8.34 |
4000 |
0.36 |
4000 |
FIRM |
4000 |
6400 |
1 |
8.34 |
6400 |
0.58 |
6400 |
FIRM |
6400 |
6640 |
1 |
8.33 |
6640 |
0.60 |
6640 |
FIRM |
6640 |
7680 |
1 |
8.33 |
7680 |
0.69 |
7680 |
FIRM |
7680 |
10240 |
1 |
8.33 |
10240 |
0.93 |
10240 |
FIRM |
10240 |
66800 |
1 |
8.33 |
66800 |
6.04 |
66800 |
FIRM |
66800 |
133280 |
1 |
8.33 |
133280 |
12.04 |
132384 |
FIRM |
132384 |
400000 |
1 |
8.33 |
400000 |
36.14 |
397312 |
FIRM |
397312 |
466640 |
1 |
8.33 |
466640 |
42.16 |
463504 |
FIRM |
463504 |
Total |
12 |
100.00 |
1106800 |
100.00 |
|
|
1100080 |
C. ALLOTMENT TO QUALIFIED INSTITUTIONAL BUYERS
Category |
Foreign Institutions/Banks |
Mutual Funds |
Foreign Institutional Investors |
Insurance Companies |
Foreign Banks |
Venture Capital |
Total |
No. of Equity Shares |
- |
- |
457360 |
- |
- |
- |
457360 |
The Board of Directors for Issue of the Company vide resolution dated January 03,2008
have approved the basis of allotment of Equity Shares and allotted the Equity Shares to
various successful applicants.
The Refund orders, allotment advice and Intimation regarding refund through electronic
modes (ECS. RTGS, NEFT to Direct Credit) has been dispatched to the address of the
investors as registered with the depositories on January 04,2008. in case the same is not
received within ten (10) days, investors may contact the Registrar at the address given
below. The Refund Orders have been over-printed with the Bank Mandate details as
registered, if any, with the depositories. The Equity Shares allotted to successful
applicants are being credited to their respective 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, Mumbai
("BSE") and Over the Counter Exchange of India ("OTCEI") within seven
(7) working days from the date approval of Basis of Allotment.
INVESTOR PLEASE NOTE
These details of allotment made would be hosted on the website of the Registrar to the
Issue, Intime Spectrum Registry Limited at www.intimespectrum.com
All future correspondence in this regard may kindly be addressed to the Registrar to
the Issue, Intime Spectrum Registry Limited, 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:
Intime Spectrum Registry Limited
C-13, Pannalal Silk Mills Compound.
L.B.S.Marg,Bhandup(W),Mumbai-400078
Tel: +91 - 22 - 2596 0320; Fax: + 91 - 22 - 2596 0329
Email: pacl-fpo@intimespectrum.com
5
Website: www.intimespectfum.com;
Contact person: Mr. Sachin Achar
Place : Mumbai
Date : January 08,2008 |
For Porwal Auto Components Limited
Sd/-
Ralna Ajmera
Company Secretary |
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET
PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF PORWAL AUTO COMPONENTS
LIMITED. |