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Vaswani IPO is a book built issue of Rs 49.00 crores.
Vaswani IPO bidding started from April 29, 2011 and ended on May 3, 2011. The shares got listed on BSE, NSE on September 20, 2011.
Vaswani IPO price band is set at ₹45 to ₹49 per share. The minimum lot size for an application is 120 Shares. The minimum amount of investment required by retail investors is ₹5,880.
Ashika Capital Ltd is the book running lead manager of the Vaswani IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Vaswani IPO RHP for detailed information.
| IPO Date | April 29, 2011 to May 3, 2011 |
| Listing Date | September 20, 2011 |
| Face Value | ₹10 per share |
| Price Band | ₹45 to ₹49 per share |
| Lot Size | 120 Shares |
| Total Issue Size | 23,490,700 shares (aggregating up to ₹49.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 13,490,700 |
| Share holding post issue | 23,490,700 |
Vaswani IPO offers 10,000,000 shares. 5,000,000 (50.00%) to QIB, 1,500,000 (15.00%) to NII, 3,500,000 (35.00%) to RII. 29,166 RIIs will receive minimum 120 shares and (sNII) and (bNII) will receive minimum 4,200 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 5,000,000 (50.00%) | NA |
| NII (HNI) Shares Offered | 1,500,000 (15.00%) | |
| Retail Shares Offered | 3,500,000 (35.00%) | 29,166 |
| Total Shares Offered | 10,000,000 (100%) |
Investors can bid for a minimum of 120 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 | 120 | ₹5,880 |
| Retail (Max) | 34 | 4080 | ₹199,920 |
| Lot Size Calculator | |||
The promoters of the company are:
1. Mr. Ravi Vaswani
2. Pramod Vaswani
3. Mr. Yashwant Vaswani
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 57.43% |
Incorporated in 2003, Vaswani Industries Ltd (VIL) is part of Vaswani Group of Industries. VIL is engaged in integrated business of manufacturing Sponge Iron, Steel Billets & Ingots and power generation.
Company has manufacturing facilities in an industrial area at Sondra Village, near to Raipur train station. Presently VIL manufactures Coal-based Sponge Iron using 3 indigenously developed rotary kilns, with a capacity of 90000 M.T. (3 X 100 MT) along with a Waste Heat Recovery Boiler (WHRB) with a generation capacity of 11.5 MW Power & a Steel Ingot/Billet Plant of capacity 59400 MT. (2 X 9 MT).
In past, Company has Installed 3 Induction Furnaces with a capacity of 36000 MT for manufacturing of Steel Billets & Ingots utilising in-house production of Sponge Iron. (In year 2007 / 08).
Company has also installed power generation of 7.5 MW, 5 MW from Waste Heat Recovery Boiler (WHRB) and 2.5 MW from Coal) for captive consumption. Company sells its surplus power generated to private power companies.
| KPI | Values |
|---|---|
| ROCE | 13.74% |
| RoNW | 9.29% |
The objects of the issue are:
1. To finance pre-payment of the term loan;
2. To finance long term working capital requirement;
3. For general corporate purposes and;
4. To finance public issue expenses.
The Vaswani IPO is subscribed 4.16 times on May 3, 2011 6:00:00 PM. The public issue subscribed 6.83 times in the retail category, 0.16 times in the QIB category, and 11.29 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 0.16 |
| NII | 11.29 |
| Retail | 6.83 |
| Total | 4.16 |
ICRA has assigned an IPO Grade 2 to Vaswani Industries 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 Vaswani IPO Grading Report
Vaswani Industries Limited (Scrip Code: 533576) IPO stocks will be traded from Monday, October 24, 2011. The trading of Vaswani IPO Stock was delayed because of Bonus Equity Shares announced by company. Read BSE Notice for more detail.
Vaswani Industries Ltd has informed BSE that the Company have fixed October 03, 2011 as the Record Date for the purpose of issue of Bonus Shares in the proportion of 1 (one) Equity Share for every 4 (four) Shares of Rs. 10/- each.
Vaswani Industries IPO finally offers application withdrawal option to its investors. This withdrawal option will remain open for a period of ten (10) days from September 01, 2011 till September 10, 2011.
The notice published by company says:
In compliance with the directions given by SAT in its aforesaid Order, our Company hereby gives an option only to Retail Individual Investors ('RIIs'), who have participated in our IPO, who may, if they so desire, withdraw
their applications in the Retail Individual Investors' category for the number of shares specified in the table given below in their respective categories under the heading 'Excess Allotment entitled for withdrawal option'
i.e. the number of shares, by which the allotment ratio was impacted due to exceptionally abnormal withdrawals in the Non-Institutional Category (NII) category. The Book Running Lead Manager (BRLM), Ashika Capital Limited,
has carried out the computation for the number of shares to be offered for withdrawal option in consultation with the Registrar to the Issue (RTI) and the category-wise details for the withdrawal option is given in below notice.
Download Vaswani IPO withdrawal Notice
SEBI has issued a press release in the matter of initial public offer of Vaswani Industries Ltd. Following are the highlights of the press release:
SEBI has issued a press release in the matter of initial public offer of Vaswani Industries Ltd. Following are the highlights of the press release:
SEBI PR No.71/2011The public issue of Vaswani Industries Ltd. was open during April 29, 2011 to May 03, 2011. Post the closure of the issue, SEBI had received complaints from investors regarding irregularities in the subscriptions in the said issue. Based on the data received from the exchanges/registrars regarding the subscriptions/withdrawals and preliminary inquiries into the matter, SEBI has advised the stock exchanges to withhold the listing of securities until further instructions. Inquiries in the matter are in progress. Based on the findings, appropriate action would be taken.
Mumbai
May 18, 2011
| Listing Date | September 20, 2011 |
| BSE Script Code | 533576 |
| NSE Symbol | VASWANI |
| ISIN | INE590L01019 |
| Final Issue Price | ₹49 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹49.00 |
| ₹33.45 |
| ₹13.00 |
| ₹35.40 |
| ₹17.75 |
| NSE |
|---|
| ₹49.00 |
| ₹33.70 |
| ₹14.00 |
| ₹33.70 |
| ₹18.40 |
Vaswani Industries Ltd
MIG-4, Indrawati Colony,
Raipur- 492 001
Chhattisgarh
Phone: +91 0771 4226000
Email: ipo@vaswaniindustries.com
Website: http://www.vaswaniindustries.com
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: vil.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Vaswani IPO is a main-board IPO of 23,490,700 equity shares of the face value of ₹10 aggregating up to ₹49.00 Crores. The issue is priced at ₹45 to ₹49 per share. The minimum order quantity is 120 Shares.
The IPO opens on April 29, 2011, and closes on May 3, 2011.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Vaswani IPO opens on April 29, 2011 and closes on May 3, 2011.
Vaswani IPO lot size is 120 Shares, and the minimum amount required is ₹5,880.
You can apply in Vaswani 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 Vaswani IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Vaswani IPO allotment status.
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