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Fine Organic IPO is a book built issue of Rs 600.20 crores.
Fine Organic IPO bidding started from June 20, 2018 and ended on June 22, 2018. The allotment for Fine Organic IPO was finalized on Wednesday, June 27, 2018. The shares got listed on BSE, NSE on July 2, 2018.
Fine Organic IPO price band is set at ₹780 to ₹783 per share. The minimum lot size for an application is 19 Shares. The minimum amount of investment required by retail investors is ₹14,877.
Edelweiss Financial Services Ltd and Jm Financial Limited are the book running lead managers of the Fine Organic IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Fine Organic IPO RHP for detailed information.
| IPO Date | June 20, 2018 to June 22, 2018 |
| Listing Date | July 2, 2018 |
| Face Value | ₹5 per share |
| Price Band | ₹780 to ₹783 per share |
| Lot Size | 19 Shares |
| Total Issue Size | 7,664,994 shares (aggregating up to ₹600.20 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 30,659,976 |
| Share holding post issue | 30,659,976 |
Fine Organic IPO offers 5,365,497 shares. 1,532,999 (28.57%) to QIB, 1,149,750 (21.43%) to NII, 2,682,748 (50.00%) to RII. 141,197 RIIs will receive minimum 19 shares and (sNII) and (bNII) will receive minimum 266 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 1,532,999 (28.57%) | NA |
| NII (HNI) Shares Offered | 1,149,750 (21.43%) | |
| Retail Shares Offered | 2,682,748 (50.00%) | 141,197 |
| Total Shares Offered | 5,365,497 (100%) |
Fine Organic IPO opens on June 20, 2018, and closes on June 22, 2018.
| IPO Open Date | Wednesday, June 20, 2018 |
| IPO Close Date | Friday, June 22, 2018 |
| Basis of Allotment | Wednesday, June 27, 2018 |
| Initiation of Refunds | Thursday, June 28, 2018 |
| Credit of Shares to Demat | Thursday, June 28, 2018 |
| Listing Date | Monday, July 2, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 22, 2018 |
Investors can bid for a minimum of 19 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 19 | ₹14,877 |
| Retail (Max) | 13 | 247 | ₹193,401 |
| Lot Size Calculator | |||
Incorporated in 2002, Mumbai based Fine Organic Industries Limited is a company engaged in manufacturing of oleochemical-based additives. As per CRISIL Research Report, it is the largest manufacturer of oleochemical-based additives in India and a strong player globally in this industry. The company produces a wide range of specialty plant derived oleochemicals-based additives used in the food, plastic, cosmetics, paint, ink, coatings and other specialty application in various industries. It has a range of 387 different products sold under the 'Fine Organics' brand.
Fine Organics is the first company to introduce slip additives in India and is the largest producer of slip additives in the world. Its direct customers are multinational, regional and local players manufacturing consumer products, such as Hindustan Unilever and Parle Products, and petrochemical companies and polymer producers globally. The plastics additives and specialty additives are also used in the packaging of foods and other fast moving consumer goods.
The company currently has three production facilities in Ambernath, Badlapur, and Dombivli in Maharashtra. As of December 31, 2017, these three facilities have a combined installed capacity of approximately 64,300 tonnes per annum. The company's products are also manufactured on a job-work basis by Olefine Organics ("Olefine"), a partnership firm and a Promoter Group entity, at a manufacturing facility in Ambernath, Maharashtra. It plans to take over the operation of the Second Ambernath Facility once Olefine has received the approval to enter into a sub-lease with us from MIDC, which is the owner of the land on which the facility is located, which is expected to occur in the fourth quarter of Fiscal 2018. The company has a dedicated research and development ("R&D") center located in Mahape, Navi Mumbai.
The Company has 596 full-time employees on its payroll.
Strengths-
1. Largest Producer of Oleochemical-based Additives in India and One of the Few Large Players in the Oleochemicalbased Additives Industry in the World
2. Strategically Located Production Facilities with In-house Development Capabilities
3. Strong R&D Capability- developed and launched 46 new products since 2014
| Particulars | For the year/period ended (in Rs. Millions) | |||||
|---|---|---|---|---|---|---|
| 31-Dec-17 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | |
| Total Assets | 4,835.99 | 4,576.40 | 4,228.49 | 3,776.57 | 3,411.16 | 2,553.78 |
| Total Revenue | 5,928.23 | 7,892.24 | 6,661.22 | 6,180.49 | 5,746.49 | 4,975.10 |
| Profit After Tax | 625.89 | 794.76 | 769.64 | 590.91 | 626.12 | 208.97 |
The objects of the Offer are to achieve the benefits of listing Equity Shares on the Stock Exchanges and to carry out the sale of up to 7,664,994 Offered Shares by the Selling Shareholders. The listing of Equity Shares will enhance the Company's brand name and provide liquidity to the existing Shareholders. The listing will also provide a public market for Equity Shares in India. The Company will not receive any proceeds from the Offer and all the proceeds from the Offer, less Offer related expenses, will go to the Selling Shareholders.
[Dilip Davda]
Although on prima facie issue appears fully priced, considering its global play, good track record and the future prospects with virtual monopoly for many products, investors may consider investment for medium to long term. (Subscribe).
Read detail review...The Fine Organic IPO is subscribed 8.77 times on June 22, 2018 5:00:00 PM. The public issue subscribed 1.19 times in the retail category, 12.85 times in the QIB category, and 21.00 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 12.85 |
| NII | 21.00 |
| Retail | 1.19 |
| Total | 8.77 |
| Listing Date | July 2, 2018 |
| BSE Script Code | 541557 |
| NSE Symbol | FINEORG |
| ISIN | INE686Y01026 |
| Final Issue Price | ₹783 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹783.00 |
| ₹815.00 |
| ₹787.00 |
| ₹834.00 |
| ₹822.80 |
| NSE |
|---|
| ₹783.00 |
| ₹815.00 |
| ₹786.65 |
| ₹833.70 |
| ₹822.80 |
Fine Organic Industries Limited
Fine House,
Anandji Lane
Ghatkopar (East), Mumbai 400 077
Phone: (91 22) 2102 5000
Email: investors@fineorganics.com
Website: http://www.fineorganics.com
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://kosmic.kfintech.com/ipostatus/
Fine Organic IPO is a main-board IPO of 7,664,994 equity shares of the face value of ₹5 aggregating up to ₹600.20 Crores. The issue is priced at ₹780 to ₹783 per share. The minimum order quantity is 19 Shares.
The IPO opens on June 20, 2018, and closes on June 22, 2018.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Fine Organic IPO opens on June 20, 2018 and closes on June 22, 2018.
Fine Organic IPO lot size is 19 Shares, and the minimum amount required is ₹14,877.
You can apply in Fine Organic IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Fine Organic IPO will be done on Wednesday, June 27, 2018, and the allotted shares will be credited to your demat account by Thursday, June 28, 2018. Check the Fine Organic IPO allotment status.
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