Bookbuilding IPO | ₹1,039 Cr | Listed at BSE, NSE | Tue, Jun 21, 2016 - Thu, Jun 23, 2016
Mahanagar Gas IPO is a book build issue of ₹1,038.88 crores. The issue is entirely an offer for sale of 2.47 crore shares of ₹1,038.88 crore.
Mahanagar Gas IPO bidding started from Jun 21, 2016 and ended on Jun 23, 2016. The shares got listed on BSE, NSE on Jul 1, 2016.
Mahanagar Gas IPO price band is set at ₹421 per share. The lot size for an application is 35. The minimum amount of investment required by an retail is ₹14,735 (35 shares) (based on upper price). The lot size investment for sNII is 14 lots (490 shares), amounting to ₹2,06,290, and for bNII, it is 68 lots (2,380 shares), amounting to ₹10,01,980.
The issue includes a reservation of up to 2,00,000 shares for employees offered at a discount of ₹38.00 to the issue price.
Citigroup Global Markets India Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Mahanagar Gas IPO RHP for detailed Information.
IPO Open
Tue, Jun 21, 2016
IPO Close
Thu, Jun 23, 2016
Issue Price
₹421 per share
Market Cap (Pre-IPO)
₹4,158.54 Cr
| IPO Date | 21 to 23 Jun, 2016 |
| Listed on | Fri, Jul 1, 2016 |
| Face Value | ₹10 per share |
| Price Band | ₹380 to ₹421 |
| Issue Price | ₹421 per share |
| Lot Size | 35 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹38.00 |
| Total Issue Size | 2,46,94,500 shares (agg. up to ₹1,039 Cr) |
| Offer for Sale | 2,46,94,500 shares of ₹10 (agg. up to ₹1,039 Cr) |
| Share Holding Pre Issue | 9,87,77,778 shares |
| Share Holding Post Issue | 9,87,77,778 shares |
| BSE Script Code / NSE Symbol | 539957 / MGL |
| ISIN | INE002S01010 |
Mahanagar Gas IPO comprises a total issue size of 2,46,94,500 shares. The net offer to the public is 2,44,94,500 shares, after excluding 2,00,000 shares under a preferential allotment. Of the Net offer 1,22,47,250 (50.00%) are allocated to QIB, 36,74,175 (15.00%) allocated to NII 85,73,075 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 1,22,47,250 | 50.00% | 49.60% | NA |
| − Anchor Investor Shares Offered | 73,48,350 | 29.76% | NA | |
| − QIB (Ex. Anchor) Shares Offered | 48,98,900 | 19.84% | NA | |
| NII (HNI) Shares Offered | 36,74,175 | 15.00% | 14.88% | NA |
| Retail Shares Offered | 85,73,075 | 35.00% | 34.72% | 2,44,945 |
| Preferential Reservations | ||||
| Employee Shares Offered | 2,00,000 | 0.81% | NA | |
| Total Shares Offered | 2,46,94,500 | 100.00% | 100.00% | |
Investors can bid for a minimum of 35 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 35 | ₹14,735 |
| Retail (Max) | 13 | 455 | ₹1,91,555 |
| S-HNI (Min) | 14 | 490 | ₹2,06,290 |
| S-HNI (Max) | 67 | 2,345 | ₹9,87,245 |
| B-HNI (Min) | 68 | 2,380 | ₹10,01,980 |
| 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 1995, Mahanagar Gas Limited is a city gas distribution company. Information in this paragraph is copied from chittorgarh.com. Mahanagar Gas supply natural gas in Mumbai and its surrounding areas. Company is sole authorized distributor of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai. CNG is used in motor vehicles and PNG for domestic household use as well as for commercial and industrial use.
Company supply CNG though its network of 180 CNG filling stations which includes stations owned and operated by the company, oil marketing companies and private parties. Content in this paragraph is copied from chittorgarh.com. CNG and PNG businesses accounted for 65.10% and 34.90%, respectively, of total gas sales revenue.
Company distribute natural gas through an extensive CGD network of pipelines, for which Mahanagar Gas have the exclusive authorization to lay, build, expand and operate the city gas distribution network. Company have a supply network of over 4,464 kms of pipelines.
Competitive Strengths:
1. Well positioned in Mumbai, one of the most populous cities in the world and second largest metropolitan city in India
2. Cost effective availability of domestic natural gas
3. Infrastructure exclusivity and established infrastructure network
4. Experience in successful development and operation of city gas distribution business.
5. Promoters with strong national and multinational experience
6. Strong financial performance with consistent growth and profitability
| Period Ended |
|---|
| Amount in ₹ Crore |
| KPI | |
|---|---|
| RoNW | 20.2% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 90% | 65% |
| Market Cap | ₹4,158.54 Cr. |
The Mahanagar Gas IPO is subscribed 64.54 times on June 23, 2016 11:00:00 PM (Day 3). The public issue subscribed 6.82 times in the retail category, 72.84 times in the QIB category, and 191.61 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 72.84 | 48,98,900 | |
| NII | 191.61 | 36,74,175 | |
| Retail | 6.82 | 85,73,075 | |
| Employee | 1.18 | 2,00,000 | |
| Total | 64.54 | 1,73,46,150 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs fees and commissions (including brokerage and selling commission for Registered Brokers) | 15.55 |
| 2 | Processing fees for SCSBs | 1.15 |
| 3 | Fees payable to Registrar to the Offer | 0.92 |
| 4 | Printing and stationary expenses | 1.83 |
| 5 | Advertising and marketing expenses | 4.45 |
| 6 | Listing fees | 0.05 |
| 7 | SEBI, BSE and NSE processing fees | 2.46 |
| 8 | Fees payable to Legal Counsels | 2.98 |
| 9 | Miscellaneous | 5.61 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹421.00 | ₹421.00 |
| Open | ₹540.00 | ₹540.00 |
| Low | ₹517.80 | ₹518.00 |
| High | ₹549.15 | ₹548.95 |
| Last Trade | ₹519.90 | ₹520.30 |
Lead Manager Reports
Mahanagar Gas IPO is a main-board IPO of 2,46,94,500 equity shares of the face value of ₹10 aggregating up to ₹1,039 Crores. The issue is priced at ₹421 per share. The minimum order quantity is 35.
The IPO opens on Tue, Jun 21, 2016, and closes on Thu, Jun 23, 2016.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Mahanagar Gas IPO using UPI as a payment gateway. Zerodha customers can apply in Mahanagar Gas IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Mahanagar Gas IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Mahanagar Gas IPO opens on Tue, Jun 21, 2016 and closes on Thu, Jun 23, 2016.
Mahanagar Gas IPO lot size is 35, and the minimum amount required for application is ₹14,735.
You can apply in Mahanagar Gas 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 Mahanagar Gas IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Mahanagar Gas IPO allotment status.
The Mahanagar Gas IPO listing date is on Fri, Jul 1, 2016.
