Bookbuilding IPO | ₹45 Cr | Listed at BSE, NSE | Tue, Feb 16, 2010 - Fri, Feb 19, 2010
Texmo Pipes IPO is a book build issue of ₹45.00 crores. The issue is entirely a fresh issue of 0.50 crore shares of ₹45.00 crore.
Texmo Pipes IPO bidding started from Feb 16, 2010 and ended on Feb 19, 2010. The shares got listed on BSE, NSE on Mar 10, 2010.
Texmo Pipes IPO is set final issue price at ₹90 per share. The lot size for an application is 75. The minimum amount of investment required by an retail is ₹6,750 (75 shares) (based on upper price). The lot size investment for sNII is 30 lots (2,250 shares), amounting to ₹2,02,500, and for bNII , it is 149 lots (11,175 shares), amounting to ₹10,05,750.
The issue includes a reservation of up to 1,00,000 shares for employees offered at a discount of ₹0.00 to the issue price .
Almondz Global Securities Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Texmo Pipes IPO RHP for detailed Information.
IPO Open
Tue, Feb 16, 2010
IPO Close
Fri, Feb 19, 2010
Issue Price
₹90 per share
Market Cap (Pre-IPO)
₹101.43 Cr
| IPO Date | 16 to 19 Feb, 2010 |
| Listed on | Wed, Mar 10, 2010 |
| Face Value | ₹10 per share |
| Price Band | ₹85 to ₹90 |
| Issue Price | ₹90 per share |
| Lot Size | 75 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 50,00,000 shares (agg. up to ₹45 Cr) |
| Fresh Issue | 50,00,000 shares (agg. up to ₹45 Cr) |
| Share Holding Pre Issue | 62,70,000 shares |
| Share Holding Post Issue | 1,12,70,000 shares |
| BSE Script Code / NSE Symbol | 533164 / TEXMOPIPES |
| ISIN | INE141K01013 |
Texmo Pipes IPO comprises a total issue size of 50,00,000 shares. The net offer to the public is 49,00,000 shares, after excluding 1,00,000 shares under a preferential allotment. Of the Net offer 24,50,000 (50.00%) are allocated to QIB, 7,35,000 (15.00%) allocated to NII 17,15,000 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 24,50,000 | 50.00% | 49.00% | NA |
| NII (HNI) Shares Offered | 7,35,000 | 15.00% | 14.70% | NA |
| Retail Shares Offered | 17,15,000 | 35.00% | 34.30% | 22,866 |
| Preferential Reservations | ||||
| Employee Shares Offered | 1,00,000 | 2.00% | NA | |
| Total Shares Offered | 50,00,000 | 100.00% | 100.00% | |
Investors can bid for a minimum of 75 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 75 | ₹6,750 |
| Retail (Max) | 29 | 2,175 | ₹1,95,750 |
| S-HNI (Min) | 30 | 2,250 | ₹2,02,500 |
| S-HNI (Max) | 148 | 11,100 | ₹9,99,000 |
| B-HNI (Min) | 149 | 11,175 | ₹10,05,750 |
| 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 2008, Texmo Pipes & Products Limited is engaged into manufacturing of range of PVC and HDPE pipes viz. suction & delivery hose pipe, rigid PVC pipes, elastomeric sealing ringfit PVC Pipe (Gasket Pipe), PVC casing and ribbed screen casing pipes, SWR pipe, plumbing pipe, conduit pipe, caping casing strips, column pipe, HDPE plain pipe, sprinkler pipe, PLB HDPE cable duct and drip irrigation system.
The pipes manufactured by Texmo suits the requirements of application in irrigation, agriculture, potable water supply schemes, sewerage and drainage systems, construction industry, telecom industry, and bore / tube well for underground water suction. Texmo Pipes has marketing presence in the states of Madhya Pradesh, Maharashtra, Uttar Pradesh, Gujarat, Andhra Pradesh and Rajasthan.
| 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 | Expansion of product range; | 11.33 |
| 2 | Setting up manufacturing facilities for injection mouldings/fittings and woven sacks | 22.06 |
| 3 | Meeting long term working capital requirements; | 10.00 |
| 4 | General corporate purposes; and | 0.49 |
| 5 | Issue expenses | 5.88 |
| KPI | |
|---|---|
| RoNW | 39.39% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 100% | 55.63% |
| Market Cap | ₹101.43 Cr. |
The Texmo IPO is subscribed 7.48 times on February 19, 2010 5:00:00 PM (Day 4). The public issue subscribed 7.26 times in the retail category, 1.02 times in the QIB category, and 30.5 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1.02 | 24,50,000 | |
| NII | 30.5 | 7,35,000 | |
| Retail | 7.26 | 17,15,000 | |
| Employee | 0.31 | 1,00,000 | |
| Total | 7.48 | 50,00,000 |
CARE has assigned an IPO Grade 2 to Texmo Pipes & Products Ltd IPO. This means as per CARE, company has 'Below 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.Click here to download the CARE IPO Grading Document for Texmo Pipes & Products Ltd
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue management fees, underwriting & selling commission (including commission to SCSB for ASBA applications) and brokerage | 2.48 |
| 2 | Registrars fees | 0.05 |
| 3 | Fee for legal counsel to the issue | 0.14 |
| 4 | Fee payable to grading agency for grading the Issue | 0.07 |
| 5 | Printing and distribution of issue stationery | 0.75 |
| 6 | Advertising and marketing expenses | 2.15 |
| 7 | Other expenses (stamp duty, initial listing fees, depository fees, charges for using the book building software of the exchanges and other related expenses) | 0.25 |
| Total | 5.88 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹90.00 | ₹90.00 |
| Open | ₹101.50 | ₹92.80 |
| Low | ₹101.50 | ₹92.80 |
| High | ₹140.70 | ₹139.90 |
| Last Trade | ₹137.25 | ₹137.15 |
Lead Manager Reports
Texmo Pipes IPO is a main-board IPO of 50,00,000 equity shares of the face value of ₹10 aggregating up to ₹45 Crores. The issue is priced at ₹90 per share. The minimum order quantity is 75.
The IPO opens on Tue, Feb 16, 2010, and closes on Fri, Feb 19, 2010.
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 Texmo Pipes IPO using UPI as a payment gateway. Zerodha customers can apply in Texmo Pipes IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Texmo Pipes IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Texmo Pipes IPO opens on Tue, Feb 16, 2010 and closes on Fri, Feb 19, 2010.
Texmo Pipes IPO lot size is 75, and the minimum amount required for application is ₹6,750.
You can apply in Texmo Pipes 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 Texmo Pipes IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Texmo Pipes IPO allotment status.
The Texmo Pipes IPO listing date is on Wed, Mar 10, 2010.
