Bookbuilding IPO | ₹93 Cr | Listed at BSE, NSE | Wed, Sep 28, 2011 - Wed, Oct 5, 2011
M & B Switchgears IPO is a book build issue of ₹93.00 crores. The issue is entirely a fresh issue of 0.50 crore shares of ₹93.00 crore.
M & B Switchgears IPO bidding started from Sep 28, 2011 and ended on Oct 5, 2011. The shares got listed on BSE, NSE on Oct 20, 2011.
M & B Switchgears IPO price band is set at ₹186 per share. The lot size for an application is 30. The minimum amount of investment required by an retail is ₹5,580 (30 shares) (based on upper price). The lot size investment for sNII is 36 lots (1,080 shares), amounting to ₹2,00,880, and for bNII, it is 180 lots (5,400 shares), amounting to ₹10,04,400.
D&A Financial Services Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue.
Refer to M & B Switchgears IPO RHP for detailed Information.
IPO Open
Wed, Sep 28, 2011
IPO Close
Wed, Oct 5, 2011
Issue Price
₹186 per share
Market Cap (Pre-IPO)
₹372.00 Cr
| IPO Date | 28 Sep to 5 Oct, 2011 |
| Listed on | Thu, Oct 20, 2011 |
| Face Value | ₹10 per share |
| Price Band | ₹180 to ₹186 |
| Issue Price | ₹186 per share |
| Lot Size | 30 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 50,00,000 shares (agg. up to ₹93 Cr) |
| Fresh Issue | 50,00,000 shares (agg. up to ₹93 Cr) |
| Share Holding Pre Issue | 1,50,00,000 shares |
| Share Holding Post Issue | 2,00,00,000 shares |
| BSE Script Code / NSE Symbol | 533644 / UJAAS |
| ISIN | INE899L01022 |
M & B Switchgears IPO comprises a total issue size of 50,00,000 shares. Out of which, 25,00,000 (50.00%) are allocated to QIB, 7,50,000 (15.00%) allocated to NII 17,50,000 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 25,00,000 | 50.00% | NA |
| NII (HNI) Shares Offered | 7,50,000 | 15.00% | NA |
| Retail Shares Offered | 17,50,000 | 35.00% | 58,333 |
| Total Shares Offered | 50,00,000 | 100.00% |
Investors can bid for a minimum of 30 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 30 | ₹5,580 |
| Retail (Max) | 35 | 1,050 | ₹1,95,300 |
| S-HNI (Min) | 36 | 1,080 | ₹2,00,880 |
| S-HNI (Max) | 179 | 5,370 | ₹9,98,820 |
| B-HNI (Min) | 180 | 5,400 | ₹10,04,400 |
Incorporated in 1999, M and B Switchgears Ltd is engaged in manufacturing of distribution transformers, power transformers, furnace/rectifier transformers and special purpose transformers.
Company is in business of manufacturing transformers for more than 30 years and is a preferred supplier of quality transformers. Company's existing annual production capacity in terms of KVA is 75,000 KVA of transformer per month on single shift basis and annual aggregate capacity is 9,00,000 KVA per annum. M and B have capacity to manufactures 5,109 transformers per annum. Company's client base include almost all electricity boards, reputed industrial groups which include steel, power, pharma, textile, automobile etc., public sector companies like NCL, SECL, WCL, Ordanace factory & various other government utilities.
| 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 | To set up our new grid connected 4 MWp solar photovoltaic power plant at Village Gagorni, Distt. Rajghar, Madhya Pradesh; and | |
| 2 | To meet General corporate purpose |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 94.26% | 70.69% |
| Market Cap | ₹372.00 Cr. |
The M and B Switchgears IPO is subscribed 1.57 times on October 5, 2011 5:00:00 PM (Day 6). The public issue subscribed 2.35 times in the retail category, 1.03 times in the QIB category, and 1.56 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1.03 | 25,00,000 | |
| NII | 1.56 | 7,50,000 | |
| Retail | 2.35 | 17,50,000 | |
| Total | 1.57 | 50,00,000 |
ICRA has assigned an IPO Grade 2 to M and B Switchgears IPO. This means as per CARE, company has 'Below Average Fundamentals'. ICRA assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Read M and B Switchgears IPO Report
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead management fees, Syndicate fee, underwriting and selling commission(including commission to SCSBs for ASBA Applications) | 2.00 |
| 2 | Advertising and marketing expenses | 0.20 |
| 3 | Printing and stationery, including transportation costs | 0.50 |
| 4 | Others (Filling fee with SEBI, BSE and NSE, Registrars fee, Legal fees, listing fees etc and Fees payable to Rating Agency, bidding software expenses, depository charges etc., including travelling, Boarding & Lodging and reimbursement of expenses to intermediaries). | 0.70 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹186.00 | ₹186.00 |
| Open | ₹180.00 | ₹190.00 |
| Low | ₹118.65 | ₹121.05 |
| High | ₹356.00 | ₹356.00 |
| Last Trade | ₹317.55 | ₹318.40 |
Lead Manager Reports
M & B Switchgears IPO is a main-board IPO of 50,00,000 equity shares of the face value of ₹10 aggregating up to ₹93 Crores. The issue is priced at ₹186 per share. The minimum order quantity is 30.
The IPO opens on Wed, Sep 28, 2011, and closes on Wed, Oct 5, 2011.
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 M & B Switchgears IPO using UPI as a payment gateway. Zerodha customers can apply in M & B Switchgears IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in M & B Switchgears IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The M & B Switchgears IPO opens on Wed, Sep 28, 2011 and closes on Wed, Oct 5, 2011.
M & B Switchgears IPO lot size is 30, and the minimum amount required for application is ₹5,580.
You can apply in M & B Switchgears 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 M & B Switchgears IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the M & B Switchgears IPO allotment status.
The M & B Switchgears IPO listing date is on Thu, Oct 20, 2011.
