Bookbuilding IPO | ₹276 Cr | Listed at BSE, NSE | Mon, Nov 19, 2007 - Thu, Nov 22, 2007
Kolte-Patil Developers IPO is a book build issue of ₹275.54 crores. The issue is entirely a fresh issue of 1.90 crore shares of ₹275.54 crore.
Kolte-Patil Developers IPO bidding started from Nov 19, 2007 and ended on Nov 22, 2007. The shares got listed on BSE, NSE on Dec 13, 2007.
Kolte-Patil Developers IPO price band is set at ₹145 per share. The lot size for an application is 40. The minimum amount of investment required by an retail is ₹5,800 (40 shares) (based on upper price). The lot size investment for sNII is 35 lots (1,400 shares), amounting to ₹2,03,000, and for bNII, it is 173 lots (6,920 shares), amounting to ₹10,03,400.
The issue includes a reservation of up to 1,88,127 shares for employees offered at a discount of ₹0.00 to the issue price.
BOFA Securities India Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue.
Refer to Kolte-Patil Developers IPO RHP for detailed Information.
IPO Open
Mon, Nov 19, 2007
IPO Close
Thu, Nov 22, 2007
Issue Price
₹145 per share
Market Cap (Pre-IPO)
₹1,091.14 Cr
| IPO Date | 19 to 22 Nov, 2007 |
| Listed on | Thu, Dec 13, 2007 |
| Face Value | ₹10 per share |
| Price Band | ₹125 to ₹145 |
| Issue Price | ₹145 per share |
| Lot Size | 40 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,90,02,977 shares (agg. up to ₹276 Cr) |
| Fresh Issue | 1,90,02,977 shares (agg. up to ₹276 Cr) |
| Share Holding Pre Issue | 5,62,50,000 shares |
| Share Holding Post Issue | 7,52,50,836 shares |
| BSE Script Code / NSE Symbol | 532924 / KOLTEPATIL |
| ISIN | INE094I01018 |
Kolte-Patil Developers IPO comprises a total issue size of 1,90,00,836 shares. The net offer to the public is 1,88,12,709 shares, after excluding 1,88,127 shares under a preferential allotment. Of the Net offer 94,06,355 (50.00%) are allocated to QIB, 28,21,906 (15.00%) allocated to NII 65,84,448 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 94,06,355 | 50.00% | 49.50% | NA |
| NII (HNI) Shares Offered | 28,21,906 | 15.00% | 14.85% | NA |
| Retail Shares Offered | 65,84,448 | 35.00% | 34.65% | 1,64,611 |
| Preferential Reservations | ||||
| Employee Shares Offered | 1,88,127 | 0.99% | NA | |
| Total Shares Offered | 1,90,00,836 | 100.00% | 100.00% | |
Investors can bid for a minimum of 40 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 40 | ₹5,800 |
| Retail (Max) | 34 | 1,360 | ₹1,97,200 |
| S-HNI (Min) | 35 | 1,400 | ₹2,03,000 |
| S-HNI (Max) | 172 | 6,880 | ₹9,97,600 |
| B-HNI (Min) | 173 | 6,920 | ₹10,03,400 |
| 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 1991, Kolte-Patil Developers Limited is a relatively small Pune based real estate development company. As of last year company has developed 25 projects, 22 in Pune and 3 in Bangalore which includes 2 IT Parks. Company has 28 ongoing projects in Pune and Bangalore; 23 are residential and 5 are commercial, IT Parks.
Company is ISO 9001 certified and received the Government of Maharashtra’s First Prize for “Best IT Infrastructure in the State of Maharashtra” for our GigaSpace IT Park project in Viman Nagar, Pune.
For 3 of its big projects in Pune company has joint venture with ICICI Venture. ICICI Venture has provided financing for these projects. Company has identified and acquired lands, invested equity, designed and conceptualized the projects and served as project manager and developer for these projects.
| 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 | Acquisition of Development Rights | 176.34 |
| 2 | . Development and construction costs for existing projects and for forthcoming projects | 148.63 |
| 3 | Issue Expenses | 25.68 |
| KPI | |
|---|---|
| RoNW | 46.09% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 100% | 74.75% |
| Market Cap | ₹1,091.14 Cr. |
The Kolte Patil Developers IPO is subscribed 46.18 times on November 22, 2007 5:00:00 PM (Day 4). The public issue subscribed 16.58 times in the retail category, 60.97 times in the QIB category, and 68.81 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead management fee and underwriting commissions | 11.80 |
| 2 | Advertising and marketing expenses | 6.05 |
| 3 | Printing and stationery expenses | 1.75 |
| 4 | Others (Registrars fee, legal fee, etc.) | 6.08 |
Withdrawal Option to Investors:
Update 1 (Posted on November 25, 2007)
Kolte-Patil Developers Limited has received a notice from SEBI about allegations made by Mr. C.V.L. Sastry with respect to the project Whispering Meadows II and the related disclosures in the Red Herring Prospectus. Investors can expect a significant delay in Kolte-Patil IPO Allotment and listing as we saw in the case of Dhanus Technologies Limited IPO.
Update 2 (Posted on November 27, 2007)
After few allegations made by Mr. C.V.L. Sastry on November 16, 2007, Today November 27, Kolte-Patil Developers Limited has received a notice from SEBI to allow investors to withdraw their application by December 4. Individual letters are posted to all subscribers of this public issue. Investors should receive these letters in next few days. More information about withdrawal process will be provided in that letter.
Last date for receipt of withdrawal: December 4, 2007
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹145.00 | ₹145.00 |
| Open | ₹220.00 | ₹230.00 |
| Low | ₹175.00 | ₹176.00 |
| High | ₹223.90 | ₹230.00 |
| Last Trade | ₹181.45 | ₹181.35 |
Lead Manager Reports
Kolte-Patil Developers IPO is a main-board IPO of 1,90,02,977 equity shares of the face value of ₹10 aggregating up to ₹276 Crores. The issue is priced at ₹145 per share. The minimum order quantity is 40.
The IPO opens on Mon, Nov 19, 2007, and closes on Thu, Nov 22, 2007.
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 Kolte-Patil Developers IPO using UPI as a payment gateway. Zerodha customers can apply in Kolte-Patil Developers IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Kolte-Patil Developers IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Kolte-Patil Developers IPO opens on Mon, Nov 19, 2007 and closes on Thu, Nov 22, 2007.
Kolte-Patil Developers IPO lot size is 40, and the minimum amount required for application is ₹5,800.
You can apply in Kolte-Patil Developers 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 Kolte-Patil Developers IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Kolte-Patil Developers IPO allotment status.
The Kolte-Patil Developers IPO listing date is on Thu, Dec 13, 2007.
