Bookbuilding IPO | ₹93 Cr | Listed at BSE, NSE | Thu, Aug 27, 2009 - Tue, Sep 1, 2009
Jindal Cotex IPO is a book build issue of ₹93.43 crores. The issue is entirely a fresh issue of 1.25 crore shares of ₹93.43 crore.
Jindal Cotex IPO bidding started from Aug 27, 2009 and ended on Sep 1, 2009. The shares got listed on BSE, NSE on Sep 22, 2009.
Jindal Cotex IPO price band is set at ₹75 per share. The lot size for an application is 90. The minimum amount of investment required by an retail is ₹6,750 (90 shares) (based on upper price). The lot size investment for sNII is 30 lots (2,700 shares), amounting to ₹2,02,500, and for bNII, it is 149 lots (13,410 shares), amounting to ₹10,05,750.
The issue includes a reservation of up to 5,00,000 shares for employees offered at a discount of ₹0.00 to the issue price.
Saffron Capital Advisors Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue.
Refer to Jindal Cotex IPO RHP for detailed Information.
IPO Open
Thu, Aug 27, 2009
IPO Close
Tue, Sep 1, 2009
Issue Price
₹75 per share
Market Cap (Pre-IPO)
₹187.50 Cr
| IPO Date | 27 Aug to 1 Sep, 2009 |
| Listed on | Tue, Sep 22, 2009 |
| Face Value | ₹10 per share |
| Price Band | ₹70 to ₹75 |
| Issue Price | ₹75 per share |
| Lot Size | 90 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,24,57,034 shares (agg. up to ₹93 Cr) |
| Reserved for Private Promoter | 12,03,894 shares (agg. up to ₹9 Cr) |
| Fresh Issue | 1,12,53,140 shares (agg. up to ₹84 Cr) |
| Net Offered to Public | 1,12,53,140 shares (agg. up to ₹84 Cr) |
| Share Holding Pre Issue | 1,25,46,106 shares |
| Share Holding Post Issue | 2,50,00,000 shares |
| BSE Script Code / NSE Symbol | 533103 / JINDCOT |
| ISIN | INE904J01016 |
Jindal Cotex IPO comprises a total issue size of 1,12,50,000 shares. The net offer to the public is 95,46,106 shares, after excluding 12,03,894 shares allotted on a firm basis and 5,00,000 shares under a preferential allotment. Of the Net offer 53,75,000 (50.00%) are allocated to QIB, 16,12,500 (15.00%) allocated to NII 37,62,500 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 53,75,000 | 50.00% | 47.78% | NA |
| NII (HNI) Shares Offered | 16,12,500 | 15.00% | 14.33% | NA |
| Retail Shares Offered | 37,62,500 | 35.00% | 33.44% | 41,805 |
| Preferential Reservations | ||||
| Employee Shares Offered | 5,00,000 | 4.44% | NA | |
| Firm Reservations | ||||
| Private Promoter Shares Offered | 12,03,894 | 10.70% | NA | |
| Total Shares Offered | 1,12,50,000 | 100.00% | 100.00% | |
Investors can bid for a minimum of 90 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 90 | ₹6,750 |
| Retail (Max) | 29 | 2,610 | ₹1,95,750 |
| S-HNI (Min) | 30 | 2,700 | ₹2,02,500 |
| S-HNI (Max) | 148 | 13,320 | ₹9,99,000 |
| B-HNI (Min) | 149 | 13,410 | ₹10,05,750 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in 1998, Jindal Cotex Limited is in the business of manufacturing of Acrylic, Polyester, and Polyester-Viscose, Polyester Cotton, combed and carded yarns, which are appropriate for apparels, suitings & knitted fabrics.
Jindal Cotex has installed capacity of 23,472 spindles for acrylic, cotton blended and polyester yarns. Company manufacture and sell yarns under the trade name 'JINDAL'.
Jindal Cotex has also installed and commissioned a Suzlon make Wind Electric Generator (Wind Mill) of 1250 KW capacity at Pithla-Satta-Gorera in Distt. Jaisalmer, Rajasthan. The entire power generated through this wind mill will be sold to Ajmer Vidyut Vitran Nigam Limited.
| 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 | Setting up a new facility for manufacturing of Cotton Yarn, Yarn Dyeing and Garments | 134.79 |
| 2 | Investment in wholly owned subsidiary, Jindal Medicot Limited | 30.01 |
| 3 | Investment in wholly owned subsidiary, Jindal Specialty Textiles Limited | 51.01 |
| 4 | Public Issue Expenses | 7.91 |
| KPI | |
|---|---|
| RoNW | 15.91% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 1% | 0.55% |
| Market Cap | ₹187.50 Cr. |
The Jindal Cotex IPO is subscribed 2.2 times on September 1, 2009 5:00:00 PM (Day 4). The public issue subscribed 3.09 times in the retail category, 0.66 times in the QIB category, and 5.93 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 0.66 | 53,75,000 | |
| NII | 5.93 | 16,12,500 | |
| Retail | 3.09 | 37,62,500 | |
| Employee | 0.03 | 5,00,000 | |
| Total | 2.2 | 1,12,50,000 |
Brickwork has assigned an IPO Grade 3 to Adani Power Limited IPO. This means as per Brickwork, company has average fundamentals. Brickwork assigns IPO gradings on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals..Link to download ICRA rating document.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead management, syndicate, underwriting and selling commission | 4.36 |
| 2 | IPO Grading Expenses | 0.07 |
| 3 | Advertisement and marketing expenses | 0.83 |
| 4 | Printing and stationery (including expenses on transportation of the material) | 1.35 |
| 5 | Others (Registrar’s fees, legal fees, filing fees, listing fees, Travelling etc.) | 1.31 |
| Total | 7.91 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹75.00 | ₹75.00 |
| Open | ₹75.00 | ₹77.00 |
| Low | ₹75.00 | ₹76.10 |
| High | ₹93.45 | ₹93.50 |
| Last Trade | ₹87.25 | ₹87.30 |
Lead Manager Reports
Jindal Cotex IPO is a main-board IPO of 1,24,57,034 equity shares of the face value of ₹10 aggregating up to ₹93 Crores. The issue is priced at ₹75 per share. The minimum order quantity is 90.
The IPO opens on Thu, Aug 27, 2009, and closes on Tue, Sep 1, 2009.
Bigshare 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 Jindal Cotex IPO using UPI as a payment gateway. Zerodha customers can apply in Jindal Cotex IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Jindal Cotex IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Jindal Cotex IPO opens on Thu, Aug 27, 2009 and closes on Tue, Sep 1, 2009.
Jindal Cotex IPO lot size is 90, and the minimum amount required for application is ₹6,750.
You can apply in Jindal Cotex 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 Jindal Cotex IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Jindal Cotex IPO allotment status.
The Jindal Cotex IPO listing date is on Tue, Sep 22, 2009.
