SEJAL GLASS
THE SIXTH ELEMENT
SEJAL ARCHITECTURAL GLASS LIMITED
Our Company was incorporated as 'Sejal Architectural Glass Private
Limited' vide Certificate of incorporation dated december 11,1998 under the Companies Act
1956, our Company was subsequwtly converted to a public limited company vide fresh
certificate of incorporation dated march 08,1999. For details of changes in our
registered office please refer section titled "OurHistory and Other corporate
Matters" begning on page 132 ot the Prospectus
Registered Office: 201/202,2nd floor, Abhilasha, S.V. Road, Kandivali
(West), MumbaJ-400067, Tel: +91 -22-2863 3384/85/96/97; Fax+91-22-2863 3390;
E-mail: ipo@sejalglass.co.in;
Website: www.sejalglass.com, Contact
Person: Mr. Ashwin S. Shetty, Company Secretary and Compliance Officer
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 91,94,155 EQUITY SHARES OF RS.10/- EACH FOR CASH AT A PRICE OF
RS. 115 PER EQUITY SHARE (INCLUDING SHARE PREMIUM OF RS. 105 PER SHARE) AGGREGATING RS.
10,573.28 LACS (THE "ISSUE"), BY SEJAL ARCHITECTURAL GLASS LIMITED
("COMPANY"/"ISSUER"). THE ISSUE CONSTITUTES 32.84% OF THE FULLY
DILUTED POST ISSUE PAID-UP EQUITY CAPITAL OF OUR COMPANY.
ISSUE PRICE: RS. 115 PER EQUITY SHARE OF THE FACE VALUE OF RS. 10/- EACH. THE ISSUE PRICE
IS 11.50 TIMES OF THE FACE VALUE
This Issue was made through the 100% Book Building Process wherein at least 50% of
the Net Issue shall be mandatorily allocated on a proportionate basis to QIBs as specified
in the Disclosure and Investor Protection Guidelines, 2000 of the Securities and Exchange
Board of India (SEBI). 5% of the QIB Portion shall be available for allocation on a
proportionate basis to Mutual Funds only. If at least 50% of the Net Issue cannot be
allocated to QIB Bidders, then the entire money will be refunded. Further, upto 15% of the
Net Issue shall be available for allocation on a proportionate basis to Non-Institutional
Bidders and upto 35% of the Net Issue shall be available for allocation on a proportionate
basis to Retail Individual Bidders, subject to valid bids being received at or above the
Issue Price.
The Issue received 44762 applications for 86635140 Equity Shares resulting in 9.42 times
subscription. The details of the applications received in the Issue from Qualified
Institutional Buyers, Non-Institutional, Retail Individual Investor categories are as
under: (Before technical rejections)
Category |
No. of Applications |
No. of Shares |
Subscription |
Qualified Institutional Buyers |
19 |
19596540 |
4.26 |
Non Institutional Investors |
134 |
42122280 |
30.54 |
Retail Individual Investors |
44609 |
24916320 |
7.74 |
Final Demand
A sample of the final demand at different bid prices is as under:
Bid Price |
No. of Shares |
% to Total |
Cumulative Total |
Cumulative % to total |
105 |
63600 |
0.0696 |
91360020 |
100.0000 |
106 |
1560 |
0.0017 |
91296420 |
99.9304 |
107 |
71280 |
0.0780 |
91294860 |
99.9287 |
108 |
360 |
0.0004 |
91223580 |
99.8507 |
110 |
57420 |
0.0629 |
91223220 |
99.8503 |
112 |
540 |
0.0006 |
91165800 |
99.7874 |
114 |
23640 |
0.0259 |
91165260 |
99.7868 |
115 |
65973120 |
72.2122 |
91141620 |
99.7609 |
CUTOFF |
25168500 |
27.5487 |
25168500 |
27.5487 |
TOTAL |
91360020 |
100.0000 |
|
|
The Basis of Allocation was finalized in consultation with The National Stock Exchange
of India Limited ("NSE") on June 21, 2008. The Board of Directors of the
Company at its Meeting held at Mumbai, on June 21,2008, allotted the Equity Shares to the
successful applicants. Details of valid applications received and allotments done are as
under:
A. Allocation to Retail Individual Investors (After Technical Rejections)
The Basis of Allocation to Retail Individual Investors, who have bid at cut-off or at the
Issue Price of Rs. 115/- per Equity Share, was finalized in consultation with NSE. The
category was over subscribed 7.69 times. The total number of equity shares allotted in
this category is 3217984 to 33514 successful applicants. The category wise details of the
Basis of Allocation are as under:
Category |
No. of
Applns. |
% to
total |
Total No. of
Shares applied |
% to
total |
No. of
Shares
allocated |
Ratio |
Total No. of
Shares allocated |
60 |
6917 |
15.66 |
415020 |
1.68 |
60 |
3:23 |
54060 |
120 |
2647 |
5.99 |
317640 |
1.28 |
60 |
6:23 |
41460 |
180 |
2063 |
4.67 |
371340 |
1.5 |
60 |
9:23 |
48300 |
240 |
1497 |
3.39 |
359280 |
1.45 |
60 |
12:23 |
46800 |
300 |
1020 |
2.31 |
306000 |
1.24 |
60 |
15:23 |
39900 |
360 |
538 |
1.22 |
193680 |
0.78 |
60 |
35:46 |
24540 |
420 |
3542 |
8.02 |
1487640 |
6.01 |
60 |
42:45 |
198360 |
480 |
806 |
1.82 |
386880 |
1.56 |
62 |
FIRM |
49972 |
540 |
190 |
0.43 |
102600 |
0.41 |
70 |
RRM |
13300 |
600 |
454 |
1.03 |
272400 |
1.1 |
78 |
FIRM |
35412 |
660 |
130 |
0.29 |
85800 |
0.35 |
86 |
RRM |
11180 |
720 |
111 |
0.25 |
7992C |
0.32 |
94 |
RRM |
10434 |
780 |
91 |
0.21 |
70980 |
0.29 |
101 |
RRM |
9191 |
840 |
24175 |
54.72 |
20307000 |
82.03 |
109 |
RRM |
2635075 |
B.Allocation to Non Institutional Investors (After Technical
Rejections)
The Basis of Allocation to Non Institutional Investors, who have bid at the Issue Price of
Rs. 115 per Equity Share, was finalized in consultation with NSE. The category was over
subscribed 30.53 times. The total number of equity shares allotted in this category is
1379093 to 128 successful applicants. The category wise details of the Basis of Allocation
are as under (Sample):
Category |
No. of
Applns. |
% to
total |
Total No. of
Shares applied |
% to
total |
No. of
Shares
allocated |
Ratio |
Total No. of
Shares allocated |
900 |
4 |
3.08 |
3600 |
0.01 |
60 |
1:2 |
120 |
1020 |
1 |
0.77 |
1020 |
0 |
60 |
FIRM |
60 |
17400 |
1 |
0.77 |
17400 |
0.04 |
570 |
FIRM |
570 |
521760 |
2 |
1.54 |
1043520 |
2.48 |
17088 |
FIRM |
34176 |
2322000 |
1 |
0.77 |
2322000 |
5.51 |
76020 |
FIRM |
76020 |
4873800 |
1 |
0.77 |
4873800 |
11.57 |
159561 |
FIRM |
159561 |
Applicants from 960 & onwards in this category have been given firm allotment on
proportionate basis inverse to the over subscription ratio.
C. Allocation to QlBs
Allocation to QIBs has been done on a proportionate basis in consultation with
NSE. As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of
shares available (2,29,854) and other QIBs and unsatisfied demands of Mutual Funds were
allotted the remaining available shares (43,67,224) on proportionate basis.
Category |
Fls/Banks |
MFs |
Flls |
VCs |
Total |
No. of Shares |
243908 |
374100 |
3505516 |
473554 |
4597078 |
The Board of Directors of the company at it's Meeting held at Mumbai on June
21,2008 have approved the basis of allocation of shares of the Issue and has
allotted the shares to various successful applicants.
Dates of despatch of Refund Orders, Credit to beneficiary Accounts, Refund
instructions and Listing details
Activity |
Date of Completion |
Approval of Basis of Allotment by NSE |
June 21, 2008 |
Despatch of Allotment Advices, Refund Orders and ECS Intimation Note |
June 23, 2008 |
Refund Instructions to the Clearing System(in case of Refunds through ECS system) |
June 23, 2008 |
Listing Application to BSE & NSE |
June 24, 2008 |
Credit to beneficiary Accounts |
June 23, 2008 |
Refunds have been made through ECS, Direct credit, RTGS and NEFT, into the Bank
Accounts of the applicants, as registered with the depositories, for applicants residing
at any of the 68 centers specified by SEBI. For other applicants Refund Orders have been
dispatched to their address as registered with the depositories. In case the same is not
received within ten days, investors may contact at the address given below. The Refund
Orders have been over-printed with the Bank Mandate details as registered, if any, with
the depositories. The shares allocated to successful applicants are being 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 admitted for
trading on the National Stock Exchange of India Limited and Bombay Stock Exchange Limited
within seven working days from the date of approval of the basis of allocation.
INVESTORS PLEASE NOTE
This details of the allocation made would be hosted on the website of Registrars to the
Issue, Intime Spectrum Registry Limited at www.intimespectrum.com.
All future 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
C-13, Pannalal Silk Mills Compound, LBS Marg
Bhandup West, Mumbai - 400 078.
Tel: 91 22 2596 0320 Fax: 91 22 2596 0329
Email: sagl.ipo@intimespectrum.com
Place: Mumbai
Date : June 24, 2008 |
For Sejal Architectural Glass Limited
Sd/-
Ashwin S. Shetty
Company Secretary and Compliance Officer |
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET
PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF SEJAL ARCHITECTURAL
GLASS LIMITED |