AMAR REMEDIES LIMITED
Registered Office : 207, Roop Raj Building, 497, S.V.P.
Road, Opera House, Mumbai 400004.
Tel: +91 22 56340591 (3Lines) Fax: +91 22 23866625, Contact
Person: Mr. Hemal shah
Email: ipo@amarremedies.com Website: www.amarremedies.com
INTIAL PUBLIC OFFERING OF 1,50,00,000 EQUITY
SHARES OF RS. 10/- EACH AT A PRICE OF RS. 28/- FOR CASH AGGREGATING TO RS. 4200 LAKHS
(HEREINAFTER REFERRED TO AS THE "ISSUE"). THE ISSUE WOULD CONSTITUTE
57.33% OF THE FULLY DILUTED POST ISSUE PAID UP CAPITAL OF THE COMPANY
_______________________________________________________________________________________________
THE ISSUE PRICE IS 2.8 TIMES OF THE FACE VALUE
_______________________________________________________________________________________________
The issue was made through the 100% book-building process wherein upto 50% of the issue
was to be allocated on a discretionary basis to Qualified institutional Buyers. Further,
not less than 15% of the issue was to be made available for allocation on a proportionate
basis to Non-institutional Bidders and not less than 35% of the issue was to be made
available for allocation on a proportionate basis to Retail Bidders, subject to valid Bids
being recevied at or above the issue Price.
BASIS OF ALLOCATION
The Board of Directors of Amar Remedies Ltd. wish to thank the investing public for
their response to the issue which opened on August 25, 2005. and closed on August 31,
2005. The issue received 1,97,990 valid bids for 53,35,46,000 Equity Shares resulting in
35.57 times subscription. The details of the applications received in the issue from
Retail individuals, Non-institutional and Qualified institutional Buyers categories
as under:
| Category |
No. of valid
Aplications |
No of Shares |
suscription |
| Retail investors |
1,97,463 |
29,60,81,750 |
56.396 |
| Non Insititutional Investors |
477 |
18,72,79,750 |
82.235 |
| Qualified Institutional Buyers |
50 |
5,01,84,500 |
6.718 |
Final Demand
A Sample of the final demand at different bid price is as under:
| Bid Price |
No. of
Shares |
% to Total |
Cumulative
Total |
Cumulative % |
| 24 |
18575500 |
2.94 |
569298000 |
18.14 |
| 25 |
686000 |
0.11 |
567761500 |
18.09 |
| 26 |
51161750 |
8.09 |
567703750 |
18.09 |
| 27 |
1138250 |
0.18 |
560469250 |
17.86 |
| 28 & cut off |
560629250 |
88.68 |
872935250 |
27.82 |
|
|
100.00 |
|
|
The Basis of Allotment was approved by Bombay Stock Exchange Limited
("BSE") on Septemeber 13, 2005.
A) Allocation to Retail Investors
The Basis of Allocation to the Retail Investors, who have bid at cut-off or at
above offer Price of Rs.28/- per Equity Share, was finalized in consultation with BSE,
Mumbai on a proportionate basis after rounding off to the nearest integer. The category
was oversubscibed 56.39652 times. The total number of shares allocated in this category is
52,50,000 Equity Shares. The category-wise details of the Basis of Allocation is as under:
| Category |
No. of
Applns. |
%
to total |
Total
No.of
Shares |
%
to total |
No. of
shares allocated |
Ratio |
Total No.
of shares
allocated |
| 250 |
19079 |
9.66 |
4769750 |
1.61 |
250 |
1:57 |
84250 |
| 500 |
22216 |
11.25 |
11108000 |
3.75 |
250 |
2:57 |
196500 |
| 750 |
9733 |
4.93 |
7299750 |
2.47 |
250 |
1:19 |
129250 |
| 1000 |
23583 |
11.94 |
23583000 |
7.97 |
250 |
1:14 |
419000 |
| 1250 |
7012 |
3.55 |
8765000 |
2.96 |
250 |
1:11 |
155750 |
| 1500 |
9822 |
4.97 |
14733000 |
4.98 |
250 |
2:19 |
260750 |
| 1750 |
80681 |
40.86 |
141191750 |
47.69 |
250 |
17:137 |
2503000 |
| 2000 |
1473 |
0.75 |
2946000 |
1.00 |
250 |
1:7 |
52500 |
| 2250 |
360 |
0.18 |
810000 |
0.27 |
250 |
1:6 |
15000 |
| 2500 |
815 |
0.41 |
2037500 |
0.69 |
250 |
2:11 |
37000 |
| 2750 |
257 |
0.13 |
706750 |
0.24 |
250 |
1:5 |
12750 |
| 3000 |
608 |
0.31 |
1824000 |
0.62 |
250 |
1:5 |
32000 |
| 3250 |
307 |
0.16 |
997750 |
0.34 |
250 |
2:9 |
17250 |
| 3500 |
21517 |
10.90 |
75309500 |
25.44 |
250 |
34:137 |
1335000 |
B) Allocation to Non Institutional Investors
The Basis of Allocation to the Non institutional Investors, who have bid for at
or above the Issue Price of Rs. 28/- per Equity Share, was finalized in consultation with
BSE, Mumbai on a proporationate basis after rounding off to the nearest integer. The
category was oversubscribed 83.23544 times. The total numberr of shares allocated in this
category is 22,50,000 Equity Shares. A sample of category-wise details of the Basis of
Allocation is as under:
| Category |
No. of
Applns. |
%
to total |
Total
No.of
Shares |
%
to total |
No. of
shares allocated |
Ratio |
Total No.
of shares
allocated |
| 3750 |
23 |
4.82 |
86250 |
0.05 |
250 |
4:23 |
1000 |
| 4000 |
11 |
2.31 |
44000 |
0.02 |
250 |
2:11 |
500 |
| 4250 |
9 |
1.89 |
38250 |
0.02 |
250 |
2:9 |
500 |
| 5000 |
14 |
2.94 |
70000 |
0.04 |
250 |
3:14 |
750 |
| 6000 |
19 |
3.98 |
114000 |
0.06 |
250 |
5:19 |
1250 |
| 10000 |
19 |
3.98 |
190000 |
0.10 |
250 |
9:19 |
2250 |
| 11000 |
2 |
0.42 |
22000 |
0.01 |
250 |
1:2 |
250 |
| 25000 |
13 |
2.73 |
325000 |
0.17 |
300 |
FIRM |
3900 |
| 50000 |
8 |
1.68 |
400000 |
0.21 |
601 |
FIRM |
4808 |
| 75000 |
10 |
2.1 |
750000 |
0.40 |
901 |
FIRM |
9010 |
| 100000 |
20 |
4.19 |
2000000 |
1.07 |
1201 |
FIRM |
24020 |
| 125000 |
6 |
1.26 |
750000 |
0.40 |
1502 |
FIRM |
9012 |
| 150000 |
1 |
0.21 |
150000 |
0.08 |
1802 |
FIRM |
1802 |
| 175000 |
1 |
0.21 |
175000 |
0.09 |
2102 |
FIRM |
2102 |
| 200000 |
9 |
1.89 |
1800000 |
0.96 |
2403 |
FIRM |
21627 |
| 250000 |
3 |
0.63 |
750000 |
0.40 |
3004 |
FIRM |
9012 |
| 275000 |
1 |
0.21 |
275000 |
0.15 |
3304 |
FIRM |
3304 |
| 1000000 |
2 |
0.42 |
2000000 |
1.07 |
12014 |
FIRM |
24028 |
| 1250000 |
1 |
0.21 |
1250000 |
0.67 |
15018 |
FIRM |
15018 |
| 2500000 |
3 |
0.63 |
7500000 |
4.00 |
30035 |
FIRM |
90105 |
| 3600000 |
1 |
0.21 |
3600000 |
1.92 |
43251 |
FIRM |
43251 |
| 4000000 |
1 |
0.21 |
4000000 |
2.14 |
48056 |
FIRM |
48056 |
| 7500000 |
2 |
0.42 |
15000000 |
8.01 |
90100 |
FIRM |
180200 |
| 8279000 |
1 |
0.21 |
8279000 |
4.42 |
99415 |
FIRM |
99415 |
| 15000000 |
3 |
0.63 |
45000000 |
24.03 |
180112 |
FIRM |
540336 |
C) Alloaction to QIB's
| Category |
Fls/
Banks |
MFs |
Flls |
Insurance
Companies |
VCs |
Others |
Total |
No. of
Shares |
334800 |
1787750 |
5377450 |
- |
- |
- |
75,00,000 |
The Board of Directors Amar Remedies Limited at its Meeting held at Mumbai
on September 13, 2005 has approved the basis of allocation of shares and allocated the
shares to various successful applicants. The despatch of Refund Orders has been completed
by September 15, 2005 to the address of the investors as registered with the depositories.
The refund orders have been printed with the Bank Mandate details as registered, if
any, with the depositories. The shares allocated to the successful applicants have been
credited to their beneficiary accounts subject to validation of the account details with
the depositories concerned. The company is taking steps to get the Equity shares admited
for trading on the Bombay Stock Exchange Limited and on The National Stock Exchange of
India Limited, Mumbai within seven working days from the date of approval of basis of
allocation.
INVESTORS PLEASE NOTE
This details of the allocation made would also be hosted on the website of Registrars to
the Offer,
Intime Spectrum Registry Limited at www.intimespectrum.com
.
All futut correspondence in this regard may kindly be addressed to the
Registrars to the Issue quoting full name of the First/ Sole applicant, Serial number of
the bid-cum-application form, number of shares bid for, name of the Member of the
Syndicate and place where the bid was submitted and payment details at the address given
below:
Intime Spectrum Registry Limited
Unint: Amar Remedies Limited, C-13, Pannalal Silk Mills Compound,
L.B.S Marg, Bhandup (West), Mumbai- 400078.
Tel 022-55555491-94 Fax 022-55555499
Email: amarrem@intimespectrum.com Website:
www.intimespectrum.com
Place: : Mumbai
Date : September 15, 2005 |
For Amar Remedies Limited
Sd/-
Hemal Shah
Compliance Officer |
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN INDICATIVE OF EITHER
THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF AMAR REMEDIES
LIMITED |