Bookbuilding IPO | ₹108 Cr | Listed at BSE, NSE | Fri, Dec 9, 2005 - Thu, Dec 15, 2005
Tulip IT Services IPO is a book build issue of ₹108.00 crores. The issue is entirely a fresh issue of 0.90 crore shares of ₹108.00 crore.
Tulip IT Services IPO bidding started from Dec 9, 2005 and ended on Dec 15, 2005.
Tulip IT Services IPO is set final issue price at ₹120 per share.
Karvy Investor Services Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Tulip IT Services IPO RHP for detailed Information.
IPO Open
Fri, Dec 9, 2005
IPO Close
Thu, Dec 15, 2005
Issue Price
₹120 per share
Market Cap (Pre-IPO)
₹348.00 Cr
| IPO Date | 9 to 15 Dec, 2005 |
| Listed on | Thu, Jan 5, 2006 |
| Face Value | ₹10 per share |
| Price Band | ₹100 to ₹120 |
| Issue Price | ₹120 per share |
| Lot Size | |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 90,00,000 shares (agg. up to ₹108 Cr) |
| Fresh Issue | 90,00,000 shares (agg. up to ₹108 Cr) |
| Share Holding Pre Issue | 2,00,00,000 shares |
| Share Holding Post Issue | 2,90,00,000 shares |
| BSE Script Code / NSE Symbol | 532691 / TULIP |
| ISIN | INE122H01019 |
Tulip IT Services IPO comprises a total issue size of 90,00,000 shares. The net offer to the public is 81,00,000 shares, after excluding 9,00,000 shares under a preferential allotment. Of the Net offer 40,50,000 (50.00%) are allocated to QIB, 12,15,000 (15.00%) allocated to NII 28,35,000 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 40,50,000 | 50.00% | 45.00% |
| NII (HNI) Shares Offered | 12,15,000 | 15.00% | 13.50% |
| Retail Shares Offered | 28,35,000 | 35.00% | 31.50% |
| Preferential Reservations | |||
| Employee Shares Offered | 9,00,000 | 10.00% | |
| Total Shares Offered | 90,00,000 | 100.00% | 100.00% |
| Category | Limit | Cut-off |
|---|---|---|
| RII | Up to ₹2 Lakhs | Yes |
| sNII | ₹2 Lakhs – ₹10 Lakhs | No |
| bNII | Above ₹10 Lakhs | No |
| Employee (EMP) | Up to ₹2 Lakhs | Yes |
| Employee + RII/NII | Up to ₹2Lakhs (EMP) + RII 'OR' NII limits | Yes (EMP/RII) |
Incorporated in 2002, Tulip IT Services Limited is engaged in providing IT infrastructure, network integration, and connectivity solutions.
The company offers network integration and management services, including the design, development, implementation, and maintenance of networks for corporate and government clients. Its services include wireless networking, networking infrastructure, facility management, security services, and remote network management.
Tulip IT Services Limited also provides IP/VPN wireless connectivity solutions for inter-city and intra-city data communication through its “Tulip Connect” platform. The company delivers connectivity solutions to corporate clients using a combination of leased lines, fibre optic networks, and wireless infrastructure.
The company operates through a hybrid business model comprising network integration services and IP/VPN wireless connectivity services. It also provides rural connectivity solutions for state governments and agencies.
Tulip IT Services Limited has a presence across multiple cities in India and serves clients through its nationwide network infrastructure and support services.
| Period Ended | 30 Sep 2005 | 31 Mar 2005 | 31 Mar 2004 |
|---|---|---|---|
| Assets | 93.52 | 69.92 | 31.61 |
| Total Income | 195.81 | 343.86 | 276.12 |
| Profit After Tax | 16.73 | 14.02 | 6.67 |
| NET Worth | 53.16 | 46.76 | 18.74 |
| Reserves and Surplus | 31.57 | 20.85 | 6.83 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Expand our Internet Protocol / Virtual Private Network (IP/VPN) Wireless business | |
| 2 | Expanding our network coverage to 130 cities of the country | |
| 3 | Improving our capability to provide data/ voice over IP/ video connectivity with | |
| 4 | To meet additional working capital requirements as a result of the expansion of our Wireless based IP/ VPN business, and to meet pre-operative and preliminary expenses for the proposed expansion, including Issue expenses | |
| 5 | To achieve the benefits of listing our Equity Shares | |
| Total | 0.00 |
| KPI | Sep 30, 2005 | Mar 31, 2005 |
|---|---|---|
| RoNW | 29.98% | |
| Price to Book Value | 3.08 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 7.01 | 11.54 |
| P/E (x) | 17.12 | 10.4 |
| Promoter Holding | 100% | 68.97% |
| Market Cap | ₹348.00 Cr. |
The Tulip IT Services IPO IPO subscription status. Full data available on IPOMatrix.com.
| Category | Subscription (times) | Shares Offered | Shares bid for | |
|---|---|---|---|---|
| Total | 24.75 | 90,00,000 | 22,27,32,699 | |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager(s) | 1.08 |
| 2 | Registrars | 0.20 |
| 3 | Legal Advisor | 0.02 |
| 4 | Underwriting fees | 1.08 |
| 5 | Brokerage & Commission | 1.08 |
| 6 | Printing and Stationery | 1.50 |
| 7 | Advertising and Marketing Expenses | 1.75 |
| 8 | Others Expenses | 0.50 |
| Total | 7.21 |
| Price Details | NSE | BSE |
|---|---|---|
| Final Issue Price | ₹120.00 | ₹120.00 |
| Open | ₹150.00 | ₹72.80 |
| Low | ₹150.00 | ₹66.50 |
| High | ₹202.00 | ₹72.90 |
| Last Trade | ₹183.80 | ₹71.25 |
Lead Manager Reports
Tulip IT Services IPO is a main-board IPO of 90,00,000 equity shares of the face value of ₹10 aggregating up to ₹108 Crores. The issue is priced at ₹120 per share. The minimum order quantity is .
The IPO opens on Fri, Dec 9, 2005, and closes on Thu, Dec 15, 2005.
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 Tulip IT Services IPO using UPI as a payment gateway. Zerodha customers can apply in Tulip IT Services IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Tulip IT Services IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Tulip IT Services IPO opens on Fri, Dec 9, 2005 and closes on Thu, Dec 15, 2005.
Tulip IT Services IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Tulip IT Services 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 Tulip IT Services IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Tulip IT Services IPO allotment status.
The Tulip IT Services IPO listing date is on .
