Bookbuilding IPO | ₹410 Cr | Listed at BSE, NSE | Wed, Jan 27, 2016 - Fri, Jan 29, 2016
Precision Camshafts IPO is a book build issue of ₹410.19 crores. The issue is a combination of fresh issue of 1.29 crore shares aggregating to ₹240.00 crores and offer for sale of 0.92 crore shares aggregating to ₹170.19 crores.
Precision Camshafts IPO bidding started from Jan 27, 2016 and ended on Jan 29, 2016. The shares got listed on BSE, NSE on Feb 8, 2016.
Precision Camshafts IPO price band is set at ₹186 per share. The lot size for an application is 80. The minimum amount of investment required by an retail is ₹14,880 (80 shares) (based on upper price). The lot size investment for sNII is 14 lots (1,120 shares), amounting to ₹2,08,320, and for bNII, it is 68 lots (5,440 shares), amounting to ₹10,11,840.
HDFC Bank Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Precision Camshafts IPO RHP for detailed Information.
IPO Open
Wed, Jan 27, 2016
IPO Close
Fri, Jan 29, 2016
Issue Price
₹186 per share
Market Cap (Pre-IPO)
₹1,762.25 Cr
| IPO Date | 27 to 29 Jan, 2016 |
| Listed on | Mon, Feb 8, 2016 |
| Face Value | ₹10 per share |
| Price Band | ₹180 to ₹186 |
| Issue Price | ₹186 per share |
| Lot Size | 80 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,20,53,225 shares (agg. up to ₹410 Cr) |
| Fresh Issue | 1,29,03,225 shares (agg. up to ₹240 Cr) |
| Offer for Sale | 91,50,000 shares of ₹10 (agg. up to ₹170 Cr) |
| Share Holding Pre Issue | 8,18,41,600 shares |
| Share Holding Post Issue | 9,47,44,825 shares |
| BSE Script Code / NSE Symbol | 539636 / PRECAM |
| ISIN | INE484I01029 |
Precision Camshafts IPO comprises a total issue size of 2,20,53,225 shares. Out of which, 1,10,26,612 (50.00%) are allocated to QIB, 33,07,984 (15.00%) allocated to NII 77,18,629 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 1,10,26,612 | 50.00% | NA |
| − Anchor Investor Shares Offered | 66,15,967 | 30.00% | NA |
| − QIB (Ex. Anchor) Shares Offered | 44,10,645 | 20.00% | NA |
| NII (HNI) Shares Offered | 33,07,984 | 15.00% | NA |
| Retail Shares Offered | 77,18,629 | 35.00% | 96,482 |
| Total Shares Offered | 2,20,53,225 | 100.00% |
Investors can bid for a minimum of 80 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 80 | ₹14,880 |
| Retail (Max) | 13 | 1,040 | ₹1,93,440 |
| S-HNI (Min) | 14 | 1,120 | ₹2,08,320 |
| S-HNI (Max) | 67 | 5,360 | ₹9,96,960 |
| B-HNI (Min) | 68 | 5,440 | ₹10,11,840 |
Incorporated in 1992, Precision Camshafts Ltd is world's leading manufacturer and supplier of camshafts, a critical automobile engine component. Company supply over 150 types of camshafts for passenger vehicles, tractors, light commercial vehicles and locomotive engine applications. Company has a manufacturing facilities in Solapur, Maharashtra.
Company caters to both international and domestic market. Some of the long term clients includes General Motors, Ford Motors, Hyundai, Maruti Suzuki, Tata Motors and Mahindra and Mahindra.
Company has two manufacturing facilities in Solapur, Maharashtra. This includes an export oriented unit and a domestic unit.
Precision Camshafts has two joint ventures with Ningbo Shenglong PCL Camshafts Company Limited, for machining of camshafts and PCL Shenglong (Huzhou) Specialised Casting Company Limited, for setting up a foundry in China.
What is Camshafts?
Camshafts is one of the most critical component required in all automobiles using an internal combustion (IC) engine, which includes 2-wheelers, 3-wheelers, passenger vehicles, commercial vehicles, off roaders and tractors. A camshaft and its associated parts actuate the opening and closing of the piston valves in an IC engine of an automobile. It is one of the critical components of an IC engine and the design of the camshaft impacts the engine's power, efficiency, mileage and emission.
Camshafts are designed in such a way so as to open the engine valves at the correct time and to keep them open for the necessary duration for the desired engine performance. The camshaft design, weight, manufacturing process and machining requirement vary across vehicle categories depending on the desired engine characteristics. The camshaft generally lasts the life of the IC engine, although it may be replaced if it affects the engine's performance significantly over time.
| 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 | Establishment of a machine shop for ductile iron camshafts at the EOU unit | 200.00 |
| 2 | General corporate purposes | 26.86 |
| KPI | |
|---|---|
| RoNW | 26.68% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 81.51% | 63.92% |
| Market Cap | ₹1,762.25 Cr. |
The Precision Camshafts IPO is subscribed 1.91 times on January 29, 2016 9:00:00 PM (Day 3). The public issue subscribed 2.01 times in the retail category, 2.62 times in the QIB category, and 0.73 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 2.62 | 46,25,699 | |
| NII | 0.73 | 33,72,500 | |
| Retail | 2.01 | 78,69,167 | |
| Total | 1.91 | 1,58,67,366 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the Book Running Lead Managers (including Underwriting commission) | 11.46 |
| 2 | Advertising and marketing expenses | 2.75 |
| 3 | Fees payable to the Registrar to the Offer | 0.04 |
| 4 | Brokerage and selling commission payable to the Syndicate and the SCSBs (for direct ASBA applications)/ processing fees payable to the, RTAs, Registered Brokers, and CDPs | 0.79 |
| 5 | Processing fees to SCSBs for ASBA Applications procured by the members of the Syndicate or RegisteredBrokers,RTAs or CDPsand submitted with the SCSBs | 0.17 |
| 6 | Others (listing fees, legal fees, stationery charges, bankers to the Offer, auditor’s fees etc. | 7.22 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹186.00 | ₹186.00 |
| Open | ₹163.10 | ₹165.00 |
| Low | ₹155.00 | ₹154.50 |
| High | ₹184.70 | ₹185.00 |
| Last Trade | ₹177.25 | ₹177.45 |
Lead Manager Reports
Precision Camshafts IPO is a main-board IPO of 2,20,53,225 equity shares of the face value of ₹10 aggregating up to ₹410 Crores. The issue is priced at ₹186 per share. The minimum order quantity is 80.
The IPO opens on Wed, Jan 27, 2016, and closes on Fri, Jan 29, 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 Precision Camshafts IPO using UPI as a payment gateway. Zerodha customers can apply in Precision Camshafts IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Precision Camshafts IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Precision Camshafts IPO opens on Wed, Jan 27, 2016 and closes on Fri, Jan 29, 2016.
Precision Camshafts IPO lot size is 80, and the minimum amount required for application is ₹14,880.
You can apply in Precision Camshafts 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 Precision Camshafts IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Precision Camshafts IPO allotment status.
The Precision Camshafts IPO listing date is on Mon, Feb 8, 2016.
