Bookbuilding IPO | ₹499 Cr | Listed at BSE, NSE | Wed, Sep 16, 2009 - Fri, Sep 18, 2009
Pipavav Shipyard IPO is a book build issue of ₹498.67 crores. The issue is entirely a fresh issue of 8.55 crore shares of ₹498.67 crore.
Pipavav Shipyard IPO bidding started from Sep 16, 2009 and ended on Sep 18, 2009. The shares got listed on BSE, NSE on Oct 9, 2009.
Pipavav Shipyard IPO price band is set at ₹58 per share. The lot size for an application is 110. The minimum amount of investment required by an retail is ₹6,600 (110 shares) (based on upper price). The lot size investment for sNII is 32 lots (3,520 shares), amounting to ₹2,04,160, and for bNII, it is 157 lots (17,270 shares), amounting to ₹10,01,660.
The issue includes a reservation of up to 6,00,000 shares for employees offered at a discount of ₹0.00 to the issue price.
Citigroup Global Markets India Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Pipavav Shipyard IPO RHP for detailed Information.
IPO Open
Wed, Sep 16, 2009
IPO Close
Fri, Sep 18, 2009
Issue Price
₹58 per share
Market Cap (Pre-IPO)
₹3,861.63 Cr
| IPO Date | 16 to 18 Sep, 2009 |
| Listed on | Fri, Oct 9, 2009 |
| Face Value | ₹10 per share |
| Price Band | ₹55 to ₹60 |
| Issue Price | ₹58 per share |
| Lot Size | 110 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 8,54,50,225 shares (agg. up to ₹499 Cr) |
| Fresh Issue | 8,54,50,225 shares (agg. up to ₹499 Cr) |
| Share Holding Pre Issue | 58,03,48,163 shares |
| Share Holding Post Issue | 66,57,98,388 shares |
| BSE Script Code / NSE Symbol | 533107 / SWANDEF |
| ISIN | INE542F01020 |
Pipavav Shipyard IPO comprises a total issue size of 8,54,50,225 shares. The net offer to the public is 8,48,50,225 shares, after excluding 6,00,000 shares under a preferential allotment. Of the Net offer 5,09,10,135 (60.00%) are allocated to QIB, 84,85,022 (10.00%) allocated to NII 2,54,55,068 (30.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 5,09,10,135 | 60.00% | 59.58% | NA |
| − Anchor Investor Shares Offered | 1,52,72,950 | 17.87% | NA | |
| − QIB (Ex. Anchor) Shares Offered | 3,56,37,185 | 41.71% | NA | |
| NII (HNI) Shares Offered | 84,85,022 | 10.00% | 9.93% | NA |
| Retail Shares Offered | 2,54,55,068 | 30.00% | 29.79% | 2,31,409 |
| Preferential Reservations | ||||
| Employee Shares Offered | 6,00,000 | 0.70% | NA | |
| Total Shares Offered | 8,54,50,225 | 100.00% | 100.00% | |
Investors can bid for a minimum of 110 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 110 | ₹6,380 |
| Retail (Max) | 31 | 3,410 | ₹1,97,780 |
| S-HNI (Min) | 32 | 3,520 | ₹2,04,160 |
| S-HNI (Max) | 156 | 17,160 | ₹9,95,280 |
| B-HNI (Min) | 157 | 17,270 | ₹10,01,660 |
| 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 1997, Pipavav Shipyard Limited is currently constructing the Pipavav Shipyard, located on the west coast of India adjacent to major sea lanes between the Persian Gulf and Asia. Upon completion of construction, the Pipavav Shipyard will be capable of ship construction and repairs for a range of vessels of different sizes and types, as well as the fabrication and construction of products such as offshore platforms, rigs, jackets and vessels (but excluding subsea pipelines) for oil and gas companies.
Pipavav shipyard complex is located on the South Western coast of Gujarat, about 130 kms from Bhavnagar to its east and Diu, about 90 kms to its west. It is adjacent to Pipavav Port, the first private sector port in India, which is controlled and operated by the A.P. Moller Group (Maersk) of Denmark,one of the largest maritime groups in the world. The Pipavav Shipyard was originally promoted by SKIL and Grevek Investments, who have been joined by Punj Lloyd as a Promoter through its acquisition of 129,361,538 Equity Shares of their Company.
The construction of the Pipavav Shipyard includes:
1. Conversion of one existing wet basin into a 651 meters long and 65 meters wide, capable of accommodating ships of up to 400,000 DWT and/or multiple combinations of smaller vessels;
2. The construction of a fabrication and block assembly facility for shipyard operations;
3. The establishment of dryland facilities comprising a fabrication area for our Offshore Business Products; and
4. The installation of a shiplift facility, including multiple land berths, for building and repairing small to medium sized ships, including naval vessels.
| 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 | Construction of facilities for shipbuilding, ship repair and the Offshore Business | 179.27 |
| 2 | Margin for working capital | 244.04 |
| 3 | General corporate purposes | 23.12 |
| Total | 446.42 |
| KPI | |
|---|---|
| RoNW | 0.39% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 45.38% | 39.56% |
| Market Cap | ₹3,861.63 Cr. |
The Pipavav Shipyard IPO is subscribed 8.25 times on September 18, 2009 5:00:00 PM (Day 3). The public issue subscribed 2.9 times in the retail category, 10.63 times in the QIB category, and 14.82 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 10.63 | 3,56,37,185 | |
| NII | 14.82 | 84,85,022 | |
| Retail | 2.9 | 2,54,55,068 | |
| Employee | 0.78 | 6,00,000 | |
| Total | 8.25 | 7,01,77,275 |
CARE has assigned an IPO Grade 3 to Pipavav Shipyard Limited IPO. This means as per CARE, company has average fundamentals. CARE 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 CARE rating document.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead management fee, underwriting and selling commission | 23.11 |
| 2 | Advertising and marketing expenses | 16.72 |
| 3 | Printing and stationery | 5.25 |
| 4 | Fees and expenses for IPO Grading | 0.15 |
| 5 | Others (Monitoring agency fees, Registrar’s fees, legal fees, listing fees etc.) | 7.01 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹58.00 | ₹58.00 |
| Open | ₹60.05 | ₹61.10 |
| Low | ₹53.85 | ₹53.85 |
| High | ₹64.70 | ₹61.10 |
| Last Trade | ₹56.80 | ₹56.70 |
Lead Manager Reports
Pipavav Shipyard IPO is a main-board IPO of 8,54,50,225 equity shares of the face value of ₹10 aggregating up to ₹499 Crores. The issue is priced at ₹58 per share. The minimum order quantity is 110.
The IPO opens on Wed, Sep 16, 2009, and closes on Fri, Sep 18, 2009.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Pipavav Shipyard IPO using UPI as a payment gateway. Zerodha customers can apply in Pipavav Shipyard IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Pipavav Shipyard IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Pipavav Shipyard IPO opens on Wed, Sep 16, 2009 and closes on Fri, Sep 18, 2009.
Pipavav Shipyard IPO lot size is 110, and the minimum amount required for application is ₹6,380.
You can apply in Pipavav Shipyard 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 Pipavav Shipyard IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Pipavav Shipyard IPO allotment status.
The Pipavav Shipyard IPO listing date is on Fri, Oct 9, 2009.
