Bookbuilding IPO | ₹120 Cr | Listed at BSE, NSE | Mon, Aug 11, 2008 - Wed, Aug 13, 2008
Resurgere Mines IPO is a book build issue of ₹120.15 crores. The issue is entirely a fresh issue of 0.45 crore shares of ₹120.15 crore.
Resurgere Mines IPO bidding started from Aug 11, 2008 and ended on Aug 13, 2008. The shares got listed on BSE, NSE on Sep 1, 2008.
Resurgere Mines IPO price band is set at ₹270 per share. The lot size for an application is 20. The minimum amount of investment required by an retail is ₹5,440 (20 shares) (based on upper price). The lot size investment for sNII is 38 lots (760 shares), amounting to ₹2,05,200, and for bNII, it is 186 lots (3,720 shares), amounting to ₹10,04,400.
The issue includes a reservation of up to 2,50,000 shares for employees offered at a discount of ₹0.00 to the issue price.
Motilal Oswal Investment Advisors Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Resurgere Mines IPO RHP for detailed Information.
IPO Open
Mon, Aug 11, 2008
IPO Close
Wed, Aug 13, 2008
Issue Price
₹270 per share
Market Cap (Pre-IPO)
₹770.62 Cr
| IPO Date | 11 to 13 Aug, 2008 |
| Listed on | Mon, Sep 1, 2008 |
| Face Value | ₹10 per share |
| Price Band | ₹263 to ₹272 |
| Issue Price | ₹270 per share |
| Lot Size | 20 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 44,50,000 shares (agg. up to ₹120 Cr) |
| Fresh Issue | 44,50,000 shares (agg. up to ₹120 Cr) |
| Share Holding Pre Issue | 2,40,91,550 shares |
| Share Holding Post Issue | 2,85,41,550 shares |
| BSE Script Code / NSE Symbol | 533017 / RMMIL |
| ISIN | INE774I01031 |
Resurgere Mines IPO comprises a total issue size of 44,50,000 shares. The net offer to the public is 42,00,000 shares, after excluding 2,50,000 shares under a preferential allotment. Of the Net offer 25,20,000 (60.00%) are allocated to QIB, 4,20,000 (10.00%) allocated to NII 12,60,000 (30.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 25,20,000 | 60.00% | 56.63% | NA |
| NII (HNI) Shares Offered | 4,20,000 | 10.00% | 9.44% | NA |
| Retail Shares Offered | 12,60,000 | 30.00% | 28.31% | 63,000 |
| Preferential Reservations | ||||
| Employee Shares Offered | 2,50,000 | 5.62% | NA | |
| Total Shares Offered | 44,50,000 | 100.00% | 100.00% | |
Investors can bid for a minimum of 20 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 20 | ₹5,400 |
| Retail (Max) | 37 | 740 | ₹1,99,800 |
| S-HNI (Min) | 38 | 760 | ₹2,05,200 |
| S-HNI (Max) | 185 | 3,700 | ₹9,99,000 |
| B-HNI (Min) | 186 | 3,720 | ₹10,04,400 |
| 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 1987, Resurgere Mines & Minerals India Limited (Formerly Exfin Shipping (India) Ltd.) is presently engaged in the business of extraction and processing of iron ore products ie lump ore and size ore, and is predominantly a manufacturer of calibrated lump ore (CLO) and Iron Ore Fines. The company is also engaged into merchant export of iron ore fines to China.
Resurgere Mines & Minerals India Ltd is ISO 9001:2000 and ISO 14001:2004 Certified from UKAS, United Kingdom. Company is a recognised Star Trading House of India and is also member of various business councils i.e. CAPEXIL, FIEO, FIMI etc. Company currently operates in Nuagaon, Kendujhargarh district and Maharajpur, Mayurbhanj district of Orissa and company purport to commence operations in Singhbhum district of Jharkhand in the near future. Resurgere Mines & Minerals India Ltd have entered in to longterm contracts for these mines, at Nuagoan and at Maharajpur, with the leaseholders for raising and purchasing of iron ore. Company have also entered into similar arrangement with a leaseholder in a mining area in the West Singhbhum district of Jharkhand for the raising of iron ore and then supply of entire production of the mine. All the three mines carry high quality iron ore of about 62% - 64% Fe content.
They have made an application to the Collector of Sindhudurg district for the grant of an iron ore mining lease over an area of 108.77 hectares in village Banda, District Sindhudurg in Maharashtra.They are also engaged in merchant export of iron ore fines to China.
| 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 | Purchase of Plant and Machineries at Nuagoan Mine | 23.66 |
| 2 | Purchase of Plant and Machineries at Maharajpur Mine | 45.27 |
| 3 | Purchase of Plant and Machineries at Jharkhand Mine | 46.06 |
| 4 | Purchase of 6 railway rakes | 116.36 |
| 5 | Provision for Contingencies and Pre Operative Expenses | 8.24 |
| 6 | General Corporate Purposes | 10.00 |
| 7 | Issue expenses | 9.80 |
| KPI | |
|---|---|
| RoNW | 31.03% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 66.5% | 56.12% |
| Market Cap | ₹770.62 Cr. |
The Resurgere Mines & Minerals IPO is subscribed 1.16 times on August 13, 2008 5:00:00 PM (Day 3). The public issue subscribed 0.4 times in the retail category, 1.34 times in the QIB category, and 2.41 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management Fees, Underwriting, Brokerage and Selling Commission | 6.50 |
| 2 | Roc Fees & Stamp Duty & Stock Exchange/SEBI/Book Building Fees | 0.35 |
| 3 | Publicity & advertising | 1.50 |
| 4 | Printing & Stationery | 1.00 |
| 5 | Issue Registrar Fee/Refunds/Management | 0.15 |
| 6 | Miscellaneous | 0.30 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹270.00 | ₹270.00 |
| Open | ₹272.05 | ₹285.00 |
| Low | ₹272.05 | ₹278.20 |
| High | ₹562.80 | ₹568.90 |
| Last Trade | ₹524.35 | ₹533.55 |
Lead Manager Reports
Resurgere Mines IPO is a main-board IPO of 44,50,000 equity shares of the face value of ₹10 aggregating up to ₹120 Crores. The issue is priced at ₹270 per share. The minimum order quantity is 20.
The IPO opens on Mon, Aug 11, 2008, and closes on Wed, Aug 13, 2008.
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 Resurgere Mines IPO using UPI as a payment gateway. Zerodha customers can apply in Resurgere Mines IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Resurgere Mines IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Resurgere Mines IPO opens on Mon, Aug 11, 2008 and closes on Wed, Aug 13, 2008.
Resurgere Mines IPO lot size is 20, and the minimum amount required for application is ₹5,400.
You can apply in Resurgere Mines 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 Resurgere Mines IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Resurgere Mines IPO allotment status.
The Resurgere Mines IPO listing date is on Mon, Sep 1, 2008.
