Bookbuilding IPO | ₹53 Cr | Listed at BSE, NSE | Thu, Jun 24, 2010 - Mon, Jun 28, 2010
Aster Silicates IPO is a book build issue of ₹53.10 crores. The issue is entirely a fresh issue of 0.45 crore shares of ₹53.10 crore.
Aster Silicates IPO bidding started from Jun 24, 2010 and ended on Jun 28, 2010. The shares got listed on BSE, NSE on Jul 28, 2010.
Aster Silicates IPO price band is set at ₹118 per share. The lot size for an application is 50. The minimum amount of investment required by an retail is ₹5,900 (50 shares) (based on upper price). The lot size investment for sNII is 34 lots (1,700 shares), amounting to ₹2,00,600, and for bNII, it is 170 lots (8,500 shares), amounting to ₹10,03,000.
Saffron Capital Advisors Pvt.Ltd. is the book running lead manager and Sharepro Services Pvt.Ltd. is the registrar of the issue.
Refer to Aster Silicates IPO RHP for detailed Information.
IPO Open
Thu, Jun 24, 2010
IPO Close
Mon, Jun 28, 2010
Issue Price
₹118 per share
Market Cap (Pre-IPO)
₹175.36 Cr
| IPO Date | 24 to 28 Jun, 2010 |
| Listed on | Wed, Jul 28, 2010 |
| Face Value | ₹10 per share |
| Price Band | ₹112 to ₹118 |
| Issue Price | ₹118 per share |
| Lot Size | 50 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 45,00,000 shares (agg. up to ₹53 Cr) |
| Fresh Issue | 45,00,000 shares (agg. up to ₹53 Cr) |
| Share Holding Pre Issue | 1,03,61,111 shares |
| Share Holding Post Issue | 1,48,61,111 shares |
| BSE Script Code / NSE Symbol | 533219 / SHRIASTER |
| ISIN | INE900K01012 |
Aster Silicates IPO comprises a total issue size of 45,00,000 shares. Out of which, 22,50,000 (50.00%) are allocated to QIB, 6,75,000 (15.00%) allocated to NII 15,75,000 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 22,50,000 | 50.00% | NA |
| NII (HNI) Shares Offered | 6,75,000 | 15.00% | NA |
| Retail Shares Offered | 15,75,000 | 35.00% | 31,500 |
| Total Shares Offered | 45,00,000 | 100.00% |
Investors can bid for a minimum of 50 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 50 | ₹5,900 |
| Retail (Max) | 33 | 1,650 | ₹1,94,700 |
| S-HNI (Min) | 34 | 1,700 | ₹2,00,600 |
| S-HNI (Max) | 169 | 8,450 | ₹9,97,100 |
| B-HNI (Min) | 170 | 8,500 | ₹10,03,000 |
Incorporated in 1996, Aster Silicates Ltd is engaged in the business of manufacturing of sodium silicate which includes food grade sodium silicate, special drilling grade silicate and detergent grade silicate. Aster Silicates produce sodium silicate both in glass and liquid form. Food grade sodium silicate is used in the manufacturing of Silica precipitate and Gel which finds its applications in toothpaste, salt, cosmetics, glucose powder, tyre & rubber and pesticides etc. Sodium silicate, (special drilling grade silicate) is also used in off-shore drilling and for reactivation of old oil and gas fields. The sodium silicate manufactured by Aster is also used in water-proofing, infoundries and for investment casting, paper, silica gel, textiles and detergents.
Currently, Aster operate from two units in Gujarat having aggregate installed capacity of 150 MT of glass/day. Unit I has three furnaces with an average combined capacity of 100 MT of glass/day. Unit II has a single furnace with a capacity of 50 mts of glass/day, which is also triple pass regenerative and recuperative end fired glass furnace.
For the proposed project, Company intends to install a special designed triple pass regenerative and recuperative Furnace of 100 MT capacity each capable of working on biogas with a facility of having duel fuel arrangement for working on other fuel like Natural Gas etc. The furnace shall be capable of being operated both manually and automatically, and shall also possess versatility for manufacturing Sodium Silicate in glass and liquid format. For the expansion of manufacturing facilities at Bharuch, company initially intend to use Natural gas from Gujarat Gas Company Limited as a source of fuel. However, gradually, they intend to shift the fuel source to Biogas, and have Natural gas as a standby arrangement.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Expansion of Manufacturing facilities | 44.32 |
| 2 | Additional Working Capital Requirements | 7.50 |
| 3 | Public Issue expenses | 5.00 |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 71.43% | 49.8% |
| Market Cap | ₹175.36 Cr. |
The Aster Silicates IPO is subscribed 4.47 times on June 28, 2010 5:00:00 PM (Day 3). The public issue subscribed 7.41 times in the retail category, 0.01 times in the QIB category, and 12.46 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 0.01 | 23,70,535 | |
| NII | 12.46 | 7,11,161 | |
| Retail | 7.41 | 16,59,375 | |
| Total | 4.47 | 47,41,071 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLM | 1.06 |
| 2 | Registrar to the Issue | 0.02 |
| 3 | Syndicate Fees, Underwriting, Brokerage and Selling Commission | 1.00 |
| 4 | Advertisement and marketing expenses | 0.75 |
| 5 | Printing and stationery (including expenses on transportation of the material) | 1.00 |
| 6 | IPO Grading | 0.04 |
| 7 | Others (Filing Fees with SEBI, BSE and NSE, legal fees, listing fees, RoC Fees, travelling and other miscellaneous expenses etc.) | 1.13 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹118.00 | ₹118.00 |
| Open | ₹127.70 | ₹128.05 |
| Low | ₹123.50 | ₹123.40 |
| High | ₹225.00 | ₹241.90 |
| Last Trade | ₹199.10 | ₹205.55 |
Lead Manager Reports
Aster Silicates IPO is a main-board IPO of 45,00,000 equity shares of the face value of ₹10 aggregating up to ₹53 Crores. The issue is priced at ₹118 per share. The minimum order quantity is 50.
The IPO opens on Thu, Jun 24, 2010, and closes on Mon, Jun 28, 2010.
Sharepro Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Aster Silicates IPO using UPI as a payment gateway. Zerodha customers can apply in Aster Silicates IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Aster Silicates IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Aster Silicates IPO opens on Thu, Jun 24, 2010 and closes on Mon, Jun 28, 2010.
Aster Silicates IPO lot size is 50, and the minimum amount required for application is ₹5,900.
You can apply in Aster Silicates IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Aster Silicates IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Aster Silicates IPO allotment status.
The Aster Silicates IPO listing date is on Wed, Jul 28, 2010.
