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Swajas Air IPO is a book built issue of Rs 37.50 crores.
Swajas Air IPO bidding started from September 26, 2011 and ended on October 5, 2011.
Swajas Air IPO price band is set at ₹84 to ₹90 per share. The minimum lot size for an application is 60 Shares. The minimum amount of investment required by retail investors is ₹5,400.
Aryaman Financial Services Limited is the book running lead manager of the Swajas Air IPO, while Cameo Corporate Services Limited is the registrar for the issue.
Refer to Swajas Air IPO RHP for detailed information.
| IPO Date | September 26, 2011 to October 5, 2011 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹84 to ₹90 per share |
| Lot Size | 60 Shares |
| Total Issue Size | 4,166,667 shares (aggregating up to ₹37.50 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 11,249,536 |
Swajas Air IPO offers 4,166,667 shares. 2,083,334 (50.00%) to QIB, 625,000 (15.00%) to NII, 1,458,333 (35.00%) to RII. 24,305 RIIs will receive minimum 60 shares and (sNII) and (bNII) will receive minimum 2,280 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 2,083,334 (50.00%) | NA |
| NII (HNI) Shares Offered | 625,000 (15.00%) | |
| Retail Shares Offered | 1,458,333 (35.00%) | 24,305 |
| Total Shares Offered | 4,166,667 (100%) |
Investors can bid for a minimum of 60 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 | 60 | ₹5,400 |
| Retail (Max) | 37 | 2220 | ₹199,800 |
| Lot Size Calculator | |||
The Individual Promoters are:
1. Mr. R. Jayakumar
2. Mr. Christopher Ian Want
| Share Holding Pre Issue | 43.66% |
| Share Holding Post Issue |
Swajas Air Charters Ltd is a a Non-Scheduled Airline Operator, servicing a fleet of fixed-wing aircraft and helicopters within and outside India.
The services provided by Swajas Air can fulfill various Aviation requirements which range from corporate travel to emergency medical services as well as from aircraft management to maintenance and technical support. Swajas Air offers a number of services falling under the segments of:
1. General Air-Charter Services
2. Off-Shore Transportation & Logistics
3. Charter Tourism
4. Medical Evacuation Services
5. Operations & Maintenance
Swajas clients base includes Hardy Exploration & Production (India) Inc., Government of Orissa, Videocon Industries Limited, Larsen & Toubro Limited, Nimbus Communications Limited, Suzlon Energy Limited, Apollo Hospitals Group, BALCO (Bharat Aluminium Company Limited) etc.
| Particulars | For the year/period ended (in Rs. Lacs) | ||
| 31-Mar-11 | 31-Mar-10 | 31-Mar-09 | |
| Total Income | 3263.00 | 2,915.12 | 751.97 |
| Profit After Tax (PAT) | 134.23 | 78.57 | 38.78 |
| KPI | Values |
|---|---|
| RoNW | 14.33% |
The objects of the issue are:
1. Part Finance the Fleet expansion;
2. Finance the setting up of MRO/Hangar Facility;
3. Finance the purchase of Office Building / Space;
4. Finance the Working Capital Requirements; and
5. General Corporate Purposes.
[Dilip Davda] Avoid. Net profit of Rs. 1.34 crore on a turnover of Rs. 32.63 crore for the year 2010-11 makes this offer expensive one as it translates into a P/E of 100 plus. Read detail review...
The Swajas Air IPO is subscribed 1.72 times on October 5, 2011 5:00:00 PM. The public issue subscribed 2.69 times in the retail category, 0.90 times in the QIB category, and 2.18 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 0.90 |
| NII | 2.18 |
| Retail | 2.69 |
| Total | 1.72 |
ICRA has assigned an IPO Grade 2 to Swajas Air Charters 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 Swajas Air Charters IPO Report
Dilip Davda Posted on 03 Nov, 2011 As per latest info, Swajas Air has cancelled the issue and inspite of getting 1.72 times subscription, it has opted to refund the application money to all with interest on delayed payment, if any. Thus the issue is not going to be listed. In fact, the company now mulls afresh filing of offer documents and will come at appropriate time with IPO.
Posted on 28th Sept 2011
Book Running Lead Manager to the issue has informed the Exchange that the SWAJAS AIR CHARTERS LIMITED issue will close on Oct 5th, 2011 instead of the earlier closing day on Sep 28th 2011.Further price band has revised from 90/- to Rs100/- to Rs. 84/- to Rs. 90/- per share. Post issue modification date has been revised to 7th Oct, 2011.
Swajas Air Charters Ltd
1/62 – 4, 1st Street,
Ravi Colony,
St. Thomas Mount, Chennai – 600 016
Phone: +91 44 43947700
Email: compliane@swajasair.com
Website: http://www.swajasaircharter.com
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: cameo@cameoindia.com
Website: https://ipo.cameoindia.com/
Swajas Air IPO is a main-board IPO of 4,166,667 equity shares of the face value of ₹10 aggregating up to ₹37.50 Crores. The issue is priced at ₹84 to ₹90 per share. The minimum order quantity is 60 Shares.
The IPO opens on September 26, 2011, and closes on October 5, 2011.
Cameo Corporate Services Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Swajas Air IPO opens on September 26, 2011 and closes on October 5, 2011.
Swajas Air IPO lot size is 60 Shares, and the minimum amount required is ₹5,400.
You can apply in Swajas Air 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 Swajas Air IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Swajas Air IPO allotment status.
Dilip Davda
SEBI registered Research Analyst
Mumbai
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