Bookbuilding IPO | ₹49 Cr | Listed at BSE, NSE | Fri, Apr 29, 2011 - Tue, May 3, 2011
Vaswani Industries IPO is a book build issue of ₹49.00 crores. The issue is entirely a fresh issue of 1.00 crore shares of ₹49.00 crore.
Vaswani Industries IPO bidding started from Apr 29, 2011 and ended on May 3, 2011. The shares got listed on BSE, NSE on Sep 20, 2011.
Vaswani Industries IPO price band is set at ₹49 per share. The lot size for an application is 120. The minimum amount of investment required by an retail is ₹5,880 (120 shares) (based on upper price). The lot size investment for sNII is 35 lots (4,200 shares), amounting to ₹2,05,800, and for bNII, it is 171 lots (20,520 shares), amounting to ₹10,05,480.
Ashika Capital Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Vaswani Industries IPO RHP for detailed Information.
IPO Open
Fri, Apr 29, 2011
IPO Close
Tue, May 3, 2011
Issue Price
₹49 per share
Market Cap (Pre-IPO)
₹115.10 Cr
| IPO Date | 29 Apr to 3 May, 2011 |
| Listed on | Tue, Sep 20, 2011 |
| Face Value | ₹10 per share |
| Price Band | ₹45 to ₹49 |
| Issue Price | ₹49 per share |
| Lot Size | 120 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,00,00,000 shares (agg. up to ₹49 Cr) |
| Fresh Issue | 1,00,00,000 shares (agg. up to ₹49 Cr) |
| Share Holding Pre Issue | 1,34,90,700 shares |
| Share Holding Post Issue | 2,34,90,700 shares |
| BSE Script Code / NSE Symbol | 533576 / VASWANI |
| ISIN | INE590L01019 |
Vaswani Industries IPO comprises a total issue size of 1,00,00,000 shares. Out of which, 50,00,000 (50.00%) are allocated to QIB, 15,00,000 (15.00%) allocated to NII 35,00,000 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 50,00,000 | 50.00% | NA |
| NII (HNI) Shares Offered | 15,00,000 | 15.00% | NA |
| Retail Shares Offered | 35,00,000 | 35.00% | 29,166 |
| Total Shares Offered | 1,00,00,000 | 100.00% |
Investors can bid for a minimum of 120 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 120 | ₹5,880 |
| Retail (Max) | 34 | 4,080 | ₹1,99,920 |
| S-HNI (Min) | 35 | 4,200 | ₹2,05,800 |
| S-HNI (Max) | 170 | 20,400 | ₹9,99,600 |
| B-HNI (Min) | 171 | 20,520 | ₹10,05,480 |
Incorporated in 2003, Vaswani Industries Ltd (VIL) is part of Vaswani Group of Industries. VIL is engaged in integrated business of manufacturing Sponge Iron, Steel Billets & Ingots and power generation.
Company has manufacturing facilities in an industrial area at Sondra Village, near to Raipur train station. Presently VIL manufactures Coal-based Sponge Iron using 3 indigenously developed rotary kilns, with a capacity of 90000 M.T. (3 X 100 MT) along with a Waste Heat Recovery Boiler (WHRB) with a generation capacity of 11.5 MW Power & a Steel Ingot/Billet Plant of capacity 59400 MT. (2 X 9 MT).
In past, Company has Installed 3 Induction Furnaces with a capacity of 36000 MT for manufacturing of Steel Billets & Ingots utilising in-house production of Sponge Iron. (In year 2007 / 08).
Company has also installed power generation of 7.5 MW, 5 MW from Waste Heat Recovery Boiler (WHRB) and 2.5 MW from Coal) for captive consumption. Company sells its surplus power generated to private power companies.
| 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 | Pre-payment of the Term Loan | 25.19 |
| 2 | Long Term Working Capital Requirements | 19.14 |
| 3 | General Corporate Purposes | 2.70 |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 100% | 57.43% |
| Market Cap | ₹115.10 Cr. |
The Vaswani IPO is subscribed 4.16 times on May 3, 2011 6:00:00 PM (Day 3). The public issue subscribed 6.83 times in the retail category, 0.16 times in the QIB category, and 11.29 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 0.16 | 50,00,000 | |
| NII | 11.29 | 15,00,000 | |
| Retail | 6.83 | 35,00,000 | |
| Total | 4.16 | 1,00,00,000 |
ICRA has assigned an IPO Grade 2 to Vaswani Industries IPO. This means as per ICRA, company has 'Below Average Fundamentals'. ICRA assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Read Vaswani IPO Grading Report
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the Book Running Lead Managers, Syndicate Member(s) Fees | 0.99 |
| 2 | Advertising, printing and stationery expenses and marketing expenses | 0.89 |
| 3 | Fees payable to the Registrar to the Issue | 0.06 |
| 4 | Underwriting commission, brokerage, selling commission and SCSB Commission | 1.01 |
| 5 | IPO Grading expense | 0.02 |
| 6 | Others (legal fees, advisory fees, listing fees, monitoring agency fees, etc.) | 0.38 |
Vaswani Industries Limited (Scrip Code: 533576) IPO stocks will be traded from Monday, October 24, 2011. The trading of Vaswani IPO Stock was delayed because of Bonus Equity Shares announced by company. Read BSE Notice for more detail.
Vaswani Industries Ltd has informed BSE that the Company have fixed October 03, 2011 as the Record Date for the purpose of issue of Bonus Shares in the proportion of 1 (one) Equity Share for every 4 (four) Shares of Rs. 10/- each.
Vaswani Industries IPO finally offers application withdrawal option to its investors. This withdrawal option will remain open for a period of ten (10) days from September 01, 2011 till September 10, 2011.
The notice published by company says:
In compliance with the directions given by SAT in its aforesaid Order, our Company hereby gives an option only to Retail Individual Investors ('RIIs'), who have participated in our IPO, who may, if they so desire, withdraw
their applications in the Retail Individual Investors' category for the number of shares specified in the table given below in their respective categories under the heading 'Excess Allotment entitled for withdrawal option'
i.e. the number of shares, by which the allotment ratio was impacted due to exceptionally abnormal withdrawals in the Non-Institutional Category (NII) category. The Book Running Lead Manager (BRLM), Ashika Capital Limited,
has carried out the computation for the number of shares to be offered for withdrawal option in consultation with the Registrar to the Issue (RTI) and the category-wise details for the withdrawal option is given in below notice.
Download Vaswani IPO withdrawal Notice
SEBI has issued a press release in the matter of initial public offer of Vaswani Industries Ltd. Following are the highlights of the press release:
SEBI has issued a press release in the matter of initial public offer of Vaswani Industries Ltd. Following are the highlights of the press release:
SEBI PR No.71/2011The public issue of Vaswani Industries Ltd. was open during April 29, 2011 to May 03, 2011. Post the closure of the issue, SEBI had received complaints from investors regarding irregularities in the subscriptions in the said issue. Based on the data received from the exchanges/registrars regarding the subscriptions/withdrawals and preliminary inquiries into the matter, SEBI has advised the stock exchanges to withhold the listing of securities until further instructions. Inquiries in the matter are in progress. Based on the findings, appropriate action would be taken.
Mumbai
May 18, 2011
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹49.00 | ₹49.00 |
| Open | ₹33.45 | ₹33.70 |
| Low | ₹13.00 | ₹14.00 |
| High | ₹35.40 | ₹33.70 |
| Last Trade | ₹17.75 | ₹18.40 |
Lead Manager Reports
Vaswani Industries IPO is a main-board IPO of 1,00,00,000 equity shares of the face value of ₹10 aggregating up to ₹49 Crores. The issue is priced at ₹49 per share. The minimum order quantity is 120.
The IPO opens on Fri, Apr 29, 2011, and closes on Tue, May 3, 2011.
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 Vaswani Industries IPO using UPI as a payment gateway. Zerodha customers can apply in Vaswani Industries IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Vaswani Industries IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Vaswani Industries IPO opens on Fri, Apr 29, 2011 and closes on Tue, May 3, 2011.
Vaswani Industries IPO lot size is 120, and the minimum amount required for application is ₹5,880.
You can apply in Vaswani Industries 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 Vaswani Industries IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Vaswani Industries IPO allotment status.
The Vaswani Industries IPO listing date is on Tue, Sep 20, 2011.
