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ASTER SILICATES LIMITED
(Our Company was incorporated originally incorporated as Arbuda
Steel Private Limited on August 27,1996 under the Companies Act, 1956 vide Certificate of
Incorporation bearing registration number 04 - 30581 of 1996 - 1997 issued by the
Registrar of Companies, Dadra and Nagar Haveli, Gujarat. The name of our Company was
changed to Aster Silicates Private Limited vide fresh Certificate of Incorporation dated
April 13,2006. Our Company was converted into a public limited company vide fresh
Certificate of Incorporation dated December 4,2009 and consequently the name of our Company
was changed to "Aster Silicates Limited". The Corporate Identification Number of
our Company is U27609GJ1996PLC030581. For details of changes to our Registered Office,
please refer to the chapter titled "History and Other Corporate Matters"
beginning on page 97 of the Prospectus).
Registered Office: A-602, Fairdeal House, Swastik Char
Rasta, Off C G Road, Navrangpura, Ahmedabad - 380 009, Gujarat. Tel No: + 91 79
26422840; Fax No: + 91 79 26422840; Email: ipo@astersilicatesltd.com; Website: www.astersilicatesltd.com; Contact Person:
Mr. Janak B. Patel, Company Secretary and Compliance Officer.
Promoters: Mr. Mahesh A. Maheshwari and Mrs. Namrata Mahesh
Maheshwari
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 45,00,000 EQUITY SHARES OF RS.10/- EACH AT A PRICE OF RS. 118 PER
EQUITY SHARE (INCLUDING A PREMIUM OF RS. 108 PER EQUITY SHARE) FOR CASH AGGREGATING UPTO
RS. 5,310 LACS (THE "ISSUE"), BY ASTER SILICATES LIMITED (THE
"COMPANY" OR THE "ISSUER"). THE ISSUE WILL CONSTITUTE 30.28% OF THE
FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF OUR COMPANY. THE NET ISSUE TO PUBLIC WILL
CONSTITUTE 30.28% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF OUR COMPANY.
BID/ISSUE OPENED ON JUNE 24,2010, CLOSED ON JUNE 28,2010
The Equity Shares of the Company are proposed to be listed on Bombay Stock Exchange
Limited ("BSE") and The National Stock Exchange of India Limited
("NSE") and the trading will commence on July 28,2010.
ISSUE PRICE: RS. 118/- PER EQUITY SHARE OF FACE VALUE OF RS. 10/- EACH
THE ISSUE PRICE IS 11.80 TIMES OF THE FACE VALUE
This Issue was made through a 100% Book Building Process wherein not more than 50% of
the Issue will be allocated to Qualified Institutional Buyers (QIBs) on a proportionate
basis, subject to valid bids being received at or above the Issue Price. 5% of the QIB
Portion shall be available for allocation on proportionate basis to Mutual Funds only and
the remaining Net QIB portion shall be available for allocation on a proportionate basis
to all Qualified Institutional Buyers, including Mutual Funds, subject to valid bids being
received at or above Issue Price. Further, not less than 15% of the Issue shall be
available for allocation on a proportionate basis to Non Institutional Bidders and not
less than 35% of the 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 16,480 applications for 2,10,68,250 equity shares
resulting in 4.68 times subscription. The details of the applications received in
the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Individual
Investor categories are as under: (Before technical rejections)
| Category |
No. of Applications |
No. of Shares |
No. of times Subscription |
| Qualified Institutional Investors |
0 |
0 |
0 |
| Non Institutional Investors |
85 |
88,51,400 |
6.56* |
| Retail Individual Investors |
16395 |
1,22,16,850 |
3.88* |
* After considering the undersubscribed portion of QIB category which have been spilled
over to Nil and Retail category in the ratio of 15:35 i.e. 6,75,000 shares and 15,75,000
shares respectively.
Final Demand
A summary of the final demand as per BSE and NSE as on the Bid/Issue Closing date at
different bid prices is as under:
| Bid Price |
No. of
Shares |
% to
Total |
Cumulative
Total |
Cumulative
% to total |
| 112 |
31750 |
0.15 |
21182800 |
100.00 |
| 113 |
300 |
0.00 |
21151050 |
99.85 |
| 114 |
450 |
0.00 |
21150750 |
99.85 |
| 115 |
4400 |
0.02 |
21150300 |
99.85 |
| 116 |
10700 |
0.05 |
21145900 |
99.83 |
| 117 |
100 |
0.00 |
21135200 |
99.78 |
| 118 |
9772000 |
46.13 |
21135100 |
99.77 |
| CUTOFF |
11361500 |
53.64 |
11363100 |
53.64 |
|
21182800 |
100.00 |
|
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The Basis of Allotment was finalized in consultation with the Designated Stock
Exchange, being the Bombay Stock Exchange Limited ("BSE") on July 24,2010. The
Board of Directors of the Company at its Meeting held at Mumbai, on July 24,2010, allotted
the Equity Shares to the successful applicants. Details of valid applications received and
allotments done are as under:
A. Allotment to Retail Individual Investors (After Technical Rejections)
The Basis of Allotment to the Retail Individual Investors, who have bid at cut-off or
at the Issue Price of Rs. 118/- per Equity Share, was finalized in consultation with BSE.
The category was over subscribed 3.69 times. As per the Prospectus, the
spill over portion from QIB Category was 15,75,000 equity shares. The
total number of equity shares allotted in this category is 31,50,000
Equity Shares to 14,980 successful applicants. The category-wise details
of the Basis of Allotment are as under:
| Category |
No. of
Applns. |
% to
total |
Total No. of
Shares applied |
% to
total |
No. of
Shares allotted |
Ratio |
Total No. of
Shares allotted |
| 50 |
566 |
3.6563 |
28,300 |
0.2433 |
50 |
10:37 |
7650 |
| 100 |
166 |
1.0724 |
16,600 |
0.1427 |
50 |
17:31 |
4550 |
| 150 |
60 |
0.3876 |
9,000 |
0.0774 |
50 |
4:5 |
2400 |
| 200 |
126 |
0.8140 |
25,200 |
0.2167 |
54 |
1:1 |
6804 |
| 250 |
33 |
0.2132 |
8,250 |
0.0709 |
68 |
1:1 |
2244 |
| 300 |
45 |
0.2907 |
13,500 |
0.1161 |
81 |
1:1 |
3645 |
| 350 |
5 |
0.0323 |
1,750 |
0.0150 |
95 |
1:1 |
475 |
| 400 |
85 |
0.5491 |
34000 |
0.2923 |
108 |
1:1 |
9180 |
| 450 |
12 |
0.0775 |
5,400 |
0.0464 |
122 |
1:1 |
1464 |
| 500 |
21 |
0.1357 |
10,500 |
0.0903 |
135 |
1:1 |
2835 |
| 550 |
25 |
0.1615 |
13,750 |
0.1182 |
149 |
1:1 |
3725 |
| 600 |
14 |
0.0904 |
8,400 |
0.0722 |
163 |
1:1 |
2282 |
| 650 |
7 |
0.0452 |
4,550 |
0.0391 |
176 |
1:1 |
1232 |
| 700 |
4 |
0.0258 |
2,800 |
0.0241 |
190 |
1:1 |
760 |
| 750 |
5 |
0.0323 |
3,750 |
0.0322 |
203 |
1:1 |
1015 |
| 800 |
14306 |
92.4160 |
11,444,800 |
98.4029 |
217 |
1:1 |
3104402 |
| *Less 1 share |
15:46 |
-4663 |
* Due to rounding off, the proposed allotment is excess by 4,663 shares in 800
category, which has been adjusted by reducing 1 share in the above ratio.
B. Allotment to Non Institutional Investors (After Technical Rejections)
The basis of allotment to Non Institutional Investors, who have bid at the Issue Price of
Rs. 118/- per Equity Share, was finalized in consultation with BSE. The category was over
subscribed 6.17 times.
As per the Prospectus, the spill over portion from QIB Category was 6,75,000 equity
shares. The total number of equity shares allotted in this category is 13,50,000 to
79 successful applicants. All the applicants in this category have been given firm
allotment on proportionate basis inverse to the oversubscription ratio.
C. Allotment to QIBs (After Technical Rejections)
There was no allotment to QIBs in this issue as no applications were received from QIBs.
The spill over portion to the extent of 15,75,000 equity shares has been added to the
Retail Category and 6,75,000 equity shares has been added to Non Institutional Investors.
| Dates of dispatch of Refund Orders, Credit to beneficiary Accounts,
Refund instructions and Listing details |
| Activity |
Date of Completion |
| Approval of Basis of Allotment by BSE |
July 24,2010 |
| Dispatch of Allotment Advices ,Refund Orders and ECS Intimation Note |
July 26,2010 |
| Refund Instructions to the Clearing System(in case of Refunds through ECS system) |
July 26,2010 |
| Instructions to the Self Certified Syndicate Banks (SCSBs) by the registrar |
July 26,2010 |
| Listing Application to BSE & NSE |
July 26,2010 |
| Credit to beneficiary Accounts |
July 26,2010 |
Refunds have been made through ECS, Direct credit, RTGS and NEFT, into the Bank
Accounts of the applicants, as registered with the depositories. 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 Bombay Stock Exchange Limited and The National Stock
Exchange of India Limited within four working days from the date of approval of the basis
of allotment.
Note: All capitalized terms used and not defined herein shall have the respective
meaning assigned to them in the Prospectus dated June 30,2010 ("Prospectus").
INVESTORS PLEASE NOTE
This details of the allotment made would be hosted on the website of Registrars to the
Issue, Sharepro Services (India) Private Limited at www.shareproservices.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:
Sharepro Services (India) Private Limited
SEBI Registration No: INR000001476
13AB, Samhita Warehousing Complex, Sakinaka Telephone Exchange Lane, Off Andheri Kurla
Road, Sakinaka, Mumbai 400 072. Tel No: +91 22 6772 0300/ 400; Fax No: +91
22 28591568; Email: aster.ipo@shareproservices.com:
Contact Person: Mr. Subhash Dhingreja / Mr. Kumresan V
Place: Mumbai
Date : July 26,2010 |
For ASTER SILICATES LIMITED
sd/-
Mahesh A Maheshwari
(Chairman & Managing Director) |
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