Bookbuilding IPO | ₹117 Cr | Listed at BSE, NSE | Thu, Mar 11, 2010 - Mon, Mar 15, 2010
Pradip Overseas IPO is a book build issue of ₹116.60 crores. The issue is entirely a fresh issue of 1.06 crore shares of ₹116.60 crore.
Pradip Overseas IPO bidding started from Mar 11, 2010 and ended on Mar 15, 2010. The shares got listed on BSE, NSE on Apr 5, 2010.
Pradip Overseas IPO price band is set at ₹110 per share. The lot size for an application is 60. The minimum amount of investment required by an retail is ₹6,600 (60 shares) (based on upper price). The lot size investment for sNII is 31 lots (1,860 shares), amounting to ₹2,04,600, and for bNII, it is 152 lots (9,120 shares), amounting to ₹10,03,200.
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.
Anand Rathi Advisors Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Pradip Overseas IPO RHP for detailed Information.
IPO Open
Thu, Mar 11, 2010
IPO Close
Mon, Mar 15, 2010
Issue Price
₹110 per share
Market Cap (Pre-IPO)
₹444.03 Cr
| IPO Date | 11 to 15 Mar, 2010 |
| Listed on | Mon, Apr 5, 2010 |
| Face Value | ₹10 per share |
| Price Band | ₹100 to ₹110 |
| Issue Price | ₹110 per share |
| Lot Size | 60 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,06,00,049 shares (agg. up to ₹117 Cr) |
| Fresh Issue | 1,06,00,049 shares (agg. up to ₹117 Cr) |
| Share Holding Pre Issue | 2,97,66,770 shares |
| Share Holding Post Issue | 4,03,66,770 shares |
| BSE Script Code / NSE Symbol | 533178 / PRADIP |
| ISIN | INE495J01015 |
Pradip Overseas IPO comprises a total issue size of 1,06,00,000 shares. The net offer to the public is 1,01,00,000 shares, after excluding 5,00,000 shares under a preferential allotment. Of the Net offer 50,50,000 (50.00%) are allocated to QIB, 15,15,000 (15.00%) allocated to NII 35,35,000 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 50,50,000 | 50.00% | 47.64% | NA |
| NII (HNI) Shares Offered | 15,15,000 | 15.00% | 14.29% | NA |
| Retail Shares Offered | 35,35,000 | 35.00% | 33.35% | 58,916 |
| Preferential Reservations | ||||
| Employee Shares Offered | 5,00,000 | 4.72% | NA | |
| Total Shares Offered | 1,06,00,000 | 100.00% | 100.00% | |
Investors can bid for a minimum of 60 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 60 | ₹6,600 |
| Retail (Max) | 30 | 1,800 | ₹1,98,000 |
| S-HNI (Min) | 31 | 1,860 | ₹2,04,600 |
| S-HNI (Max) | 151 | 9,060 | ₹9,96,600 |
| B-HNI (Min) | 152 | 9,120 | ₹10,03,200 |
| 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 1980, Pradip Overseas Limited is the textile manufacturer with niche focus on Home Linen Products. Company sale its products in domestic market as well as more than twenty countries around the world.
Company manufacturer and export home textile, home decor and home furnishings. Company's home furnishing range includes table linen, bed spreads, quilts, cushion covers and curtains.
Pradip Overseas is an ISO 9001:2000 certified company. Its existing facility is located at Changodar near Ahmedabad in Gujarat.
| 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 part finance the setting up the Proposed Manufacturing Facility within the Proposed Textile SEZ | 99.95 |
| 2 | To part finance the incremental margin money requirement for working capital | 99.95 |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 80.06% | 59.03% |
| Market Cap | ₹444.03 Cr. |
The Pradip Overseas IPO is subscribed 14.08 times on March 15, 2010 6:30:00 PM (Day 3). The public issue subscribed 10.53 times in the retail category, 8.57 times in the QIB category, and 45.35 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 8.57 | 50,50,000 | |
| NII | 45.35 | 15,15,000 | |
| Retail | 10.53 | 35,35,000 | |
| Employee | 0.09 | 5,00,000 | |
| Total | 14.08 | 1,06,00,000 |
ICRA Limited assigned IPO Grade 2 (indicating below average fundamentals) to Pradip Overseas Limited.
ICRA assigns IPO gradings on a scale of IPO Grade 5 through to IPO Grade 1, with IPO Grade 5 indicating strong fundamentals and IPO Grade 1 indicating poor fundamentals.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees for the BRLM | 4.09 |
| 2 | Fees for the Registrar to the Issue | 0.12 |
| 3 | Regulatory fees (including fee payable to SEBI, Stock Exchanges) | 0.19 |
| 4 | Fees payable to the legal counsel | 0.17 |
| 5 | Fees payable to the Auditors | |
| 6 | Fees payable to IPO Grading Agency | 0.03 |
| 7 | Marketing fee (including fee payable to advertising agencies) | 1.06 |
| 8 | Miscellaneous expenses | 1.63 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹110.00 | ₹110.00 |
| Open | ₹120.00 | ₹115.00 |
| Low | ₹102.30 | ₹102.15 |
| High | ₹123.00 | ₹122.70 |
| Last Trade | ₹107.15 | ₹107.05 |
Lead Manager Reports
Pradip Overseas IPO is a main-board IPO of 1,06,00,049 equity shares of the face value of ₹10 aggregating up to ₹117 Crores. The issue is priced at ₹110 per share. The minimum order quantity is 60.
The IPO opens on Thu, Mar 11, 2010, and closes on Mon, Mar 15, 2010.
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 Pradip Overseas IPO using UPI as a payment gateway. Zerodha customers can apply in Pradip Overseas IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Pradip Overseas IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Pradip Overseas IPO opens on Thu, Mar 11, 2010 and closes on Mon, Mar 15, 2010.
Pradip Overseas IPO lot size is 60, and the minimum amount required for application is ₹6,600.
You can apply in Pradip Overseas 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 Pradip Overseas IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Pradip Overseas IPO allotment status.
The Pradip Overseas IPO listing date is on Mon, Apr 5, 2010.
