Bookbuilding IPO | ₹212 Cr | Listed at BSE, NSE | Wed, May 17, 2017 - Fri, May 19, 2017
PSP Projects IPO is a book build issue of ₹211.68 crores. The issue is a combination of fresh issue of 0.72 crore shares aggregating to ₹151.20 crores and offer for sale of 0.29 crore shares aggregating to ₹60.48 crores.
PSP Projects IPO bidding started from May 17, 2017 and ended on May 19, 2017. The allotment for PSP Projects IPO was finalized on May 24, 2017. The shares got listed on BSE, NSE on May 29, 2017.
PSP Projects IPO price band is set at ₹210 per share. The lot size for an application is 70. The minimum amount of investment required by an retail is ₹14,700 (70 shares) (based on upper price). The lot size investment for sNII is 14 lots (980 shares), amounting to ₹2,05,800, and for bNII, it is 69 lots (4,830 shares), amounting to ₹10,14,300.
Karvy Investor Services Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to PSP Projects IPO RHP for detailed Information.
IPO Open
Wed, May 17, 2017
IPO Close
Fri, May 19, 2017
Issue Price
₹210 per share
Market Cap (Pre-IPO)
₹756.00 Cr
| IPO Date | 17 to 19 May, 2017 |
| Listed on | Mon, May 29, 2017 |
| Face Value | ₹10 per share |
| Price Band | ₹205 to ₹210 |
| Issue Price | ₹210 per share |
| Lot Size | 70 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,00,80,000 shares (agg. up to ₹212 Cr) |
| Fresh Issue | 72,00,000 shares (agg. up to ₹151 Cr) |
| Offer for Sale | 28,80,000 shares of ₹10 (agg. up to ₹60 Cr) |
| Share Holding Pre Issue | 2,88,00,000 shares |
| Share Holding Post Issue | 3,60,00,000 shares |
| BSE Script Code / NSE Symbol | 540544 / PSPPROJECT |
| ISIN | INE488V01015 |
PSP Projects IPO comprises a total issue size of 1,00,80,000 shares. Out of which, 75,60,000 (75.00%) are allocated to QIB, 15,12,000 (15.00%) allocated to NII 10,08,000 (10.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 75,60,000 | 75.00% | NA |
| − Anchor Investor Shares Offered | 45,36,000 | 45.00% | NA |
| − QIB (Ex. Anchor) Shares Offered | 30,24,000 | 30.00% | NA |
| NII (HNI) Shares Offered | 15,12,000 | 15.00% | NA |
| Retail Shares Offered | 10,08,000 | 10.00% | 14,400 |
| Total Shares Offered | 1,00,80,000 | 100.00% |
Investors can bid for a minimum of 70 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 70 | ₹14,700 |
| Retail (Max) | 13 | 910 | ₹1,91,100 |
| S-HNI (Min) | 14 | 980 | ₹2,05,800 |
| S-HNI (Max) | 68 | 4,760 | ₹9,99,600 |
| B-HNI (Min) | 69 | 4,830 | ₹10,14,300 |
PSP Projects IPO raises ₹95.26 crore from anchor investors. PSP Projects IPO Anchor bid date is May 16, 2017.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, May 16, 2017 |
| Shares Offered | 45,36,000 |
| Anchor Portion (₹ Cr.) | 95.26 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Jun 23, 2017 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Aug 22, 2017 |
Incorporated in 2008, PSP Projects Ltd is an India based construction company offering a diversified range of construction and allied services across industrial, institutional, government, government residential and residential projects.
The company constructs industrial buildings for pharmaceutical plants, food processing units, engineering units and manufacturing and processing facilities; and buildings for hospitals and healthcare services, educational institutes, malls, hospitality services, and corporate offices. They also undertakes government projects and government residential projects; and constructs buildings for group housing and townships, as well as independent residences for select private customers, as well as manufactures ready mix concrete.
They have successfully executed a number of prestigious projects across Gujarat. One of the first major projects that they completed was the construction of the GCS Medical College, Hospital and Research Centre (managed by the Gujarat Cancer Society) in June 2012.
| 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 | Funding working capital requirements of the Company | 63.00 |
| 2 | Funding capital expenditure requirements of the Company | 52.00 |
| 3 | General corporate purposes | 26.95 |
The PSP Projects IPO is subscribed 8.58 times on May 19, 2017 5:00:00 PM (Day 3). The public issue subscribed 6.47 times in the retail category, 8.38 times in the QIB category, and 10.39 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 8.38 | 30,24,000 | |
| NII | 10.39 | 15,12,000 | |
| Retail | 6.47 | 10,08,000 | |
| Total | 8.58 | 55,44,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs’ fees and commissions (including underwriting commission, brokerage and selling commission) | 7.30 |
| 2 | Commission/processing fee for SCSBs | 1.35 |
| 3 | Brokerage and selling commission for Registered Brokers, RTAs and CDPs | 1.58 |
| 4 | Registrar to the Issue | 0.26 |
| 5 | Other advisors to the Issue | 9.50 |
| 6 | Listing fees, SEBI filing fees, book building software fees | 7.18 |
| 7 | Printing and stationery | 1.04 |
| 8 | Advertising and marketing expenses | 1.57 |
| 9 | Miscellaneous | 1.06 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹210.00 | ₹210.00 |
| Open | ₹199.00 | ₹190.00 |
| Low | ₹189.05 | ₹190.00 |
| High | ₹208.95 | ₹199.50 |
| Last Trade | ₹208.95 | ₹199.50 |
Lead Manager Reports
PSP Projects IPO is a main-board IPO of 1,00,80,000 equity shares of the face value of ₹10 aggregating up to ₹212 Crores. The issue is priced at ₹210 per share. The minimum order quantity is 70.
The IPO opens on Wed, May 17, 2017, and closes on Fri, May 19, 2017.
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 PSP Projects IPO using UPI as a payment gateway. Zerodha customers can apply in PSP Projects IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in PSP Projects IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The PSP Projects IPO opens on Wed, May 17, 2017 and closes on Fri, May 19, 2017.
PSP Projects IPO lot size is 70, and the minimum amount required for application is ₹14,700.
You can apply in PSP Projects 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 PSP Projects IPO will be done on Wednesday, May 24, 2017, and the allotted shares will be credited to your demat account by Fri, May 26, 2017. Check the PSP Projects IPO allotment status.
The PSP Projects IPO listing date is on Mon, May 29, 2017.
