Bookbuilding IPO | ₹33 Cr | Listed at BSE SME | Tue, Mar 20, 2018 - Thu, Mar 22, 2018
Benara Bearings IPO is a book build issue of ₹33.49 crores. The issue is entirely a fresh issue of 0.53 crore shares of ₹33.49 crore.
Benara Bearings IPO bidding started from Mar 20, 2018 and ended on Mar 22, 2018. The shares got listed on BSE SME on Apr 3, 2018.
Benara Bearings IPO price band is set at ₹63 per share. The lot size for an application is 2,000. The minimum amount of investment required by an retail is ₹1,26,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,52,000.
The issue includes a reservation of up to 76,000 shares for employees offered at a discount of ₹0.00 to the issue price.
Pantomath Capital Advisors Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Pantomath Stock Brokers Pvt.Ltd..
Refer to Benara Bearings IPO RHP for detailed Information.
IPO Open
Tue, Mar 20, 2018
IPO Close
Thu, Mar 22, 2018
Issue Price
₹63 per share
Market Cap (Pre-IPO)
₹111.56 Cr
| IPO Date | 20 to 22 Mar, 2018 |
| Listed on | Tue, Apr 3, 2018 |
| Face Value | ₹10 per share |
| Price Band | ₹60 to ₹63 |
| Issue Price | ₹63 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 53,16,000 shares (agg. up to ₹33 Cr) |
| Reserved for Market Maker | 2,72,000 shares Pantomath Stock Brokers Pvt.Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 50,44,000 shares (agg. up to ₹32 Cr) |
| Net Offered to Public | 50,44,000 shares (agg. up to ₹32 Cr) |
| Share Holding Pre Issue | 1,23,91,288 shares |
| Share Holding Post Issue | 1,77,07,288 shares |
| BSE Script Code | 541178 |
| ISIN | INE495Z01011 |
Benara Bearings IPO comprises a total issue size of 53,16,000 shares. The net offer to the public is 49,68,000 shares, after excluding 2,72,000 shares allotted on a firm basis and 76,000 shares under a preferential allotment. Of the Net offer 24,84,000 (50.00%) allocated to NII 24,84,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 24,84,000 | 50.00% | 46.73% |
| Retail Shares Offered | 24,84,000 | 50.00% | 46.73% |
| Preferential Reservations | |||
| Employee Shares Offered | 76,000 | 1.43% | |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,72,000 | 5.12% | |
| Total Shares Offered | 53,16,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,26,000 |
| Retail (Max) | 1 | 2,000 | ₹1,26,000 |
| HNI (Min) | 2 | 4,000 | ₹2,52,000 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only NII | Above Rs 2 Lakhs | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in 1990, Benara Bearings & Pistons Ltd is an ISO 9001:2015 certified company engaged in the manufacturing of engine bearings, bushes, pistons, piston pin, piston rings, cylinder liners and sleeves and engine valves.
They are also in the business of marketing of products like ball bearings, spark plugs, rocker arms, timing chains, connecting rods, valve guides, valve seals & batteries (Motorcycle / Inverter / E Rickshaws) under their own brand which they source through third party contract manufacturing. Company markets its product in OEM and Replacement market.
Company has two manufacturing facilities, which are situated at Sikandra, Agra ("Unit I") where they manufactures piston pin, piston ring and engine bearing and bushes and other one is at Artoni, Agra-Mathura Road Agra ("Unit II") where they manufactures piston, cylinder block / liner and engine valve. Company's products are well known in Uttar Pradesh, Madhya Pradesh, Bihar, Rajasthan, Haryana, Gujarat, Delhi NCR and West Bengal.
| 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 the Company by way of opening retail stores for automobile parts across the country | 7.50 |
| 2 | Funding the working capital requirements of the Subsidiary BSPL | 5.00 |
| 3 | Funding the working capital requirements of the Company | 10.50 |
| 4 | General Corporate Purpose | 7.49 |
The Benara Bearings IPO is subscribed 1.91 times on March 22, 2018 2:00:00 PM (Day 3). The public issue subscribed 2.77 times in the retail category, [.] times in the QIB category, and 1.06 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 1.06 | 24,84,000 | 26,32,000 |
| Retail | 2.77 | 24,84,000 | 68,84,000 |
| Employee | 1.18 | 76,000 | 90,000 |
| Total | 1.91 | 50,44,000 | 96,18,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including expenses towards printing, advertising, and payment to other intermediaries such as Registrars, Bankers etc. | 2.64 |
| 2 | Regulatory fees | 0.17 |
| 3 | Marketing and Other Expenses | 0.19 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹63.00 |
| Open | ₹64.00 |
| Low | ₹61.00 |
| High | ₹64.00 |
| Last Trade | ₹61.95 |
Lead Manager Reports
Benara Bearings IPO is a SME IPO of 53,16,000 equity shares of the face value of ₹10 aggregating up to ₹33 Crores. The issue is priced at ₹63 per share. The minimum order quantity is 2000.
The IPO opens on Tue, Mar 20, 2018, and closes on Thu, Mar 22, 2018.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Benara Bearings IPO using UPI as a payment gateway. Zerodha customers can apply in Benara Bearings IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Benara Bearings IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Benara Bearings IPO opens on Tue, Mar 20, 2018 and closes on Thu, Mar 22, 2018.
Benara Bearings IPO lot size is 2000, and the minimum amount required for application is ₹1,26,000.
You can apply in Benara Bearings 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 Benara Bearings IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Benara Bearings IPO allotment status.
The Benara Bearings IPO listing date is on Tue, Apr 3, 2018.
