Inox Wind to mop up Rs 306 crore from anchor investors

India Infoline News Service | Mumbai | March 18, 2015 08:26 IST

The Price Band is fixed from Rs. 315 to Rs. 325 per Equity Share. The Bid/ Issue closes on March 20, 2015. The minimum Bid Lot is 45 Equity Shares and in multiples of 45 Equity Shares thereafter.

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INOX Wind Limited (the “Company”), has finalized the allocation of 94,25,467 equity shares at Rs. 325 per equity share (upper end of the Price Band) aggregating to Rs. 306.328 crore to 16 anchor investors. 
The list of anchor investors and the allocation of equity shares is as follows: 1) Sundaram Mutual Fund A/C Sundaram Equity Multiplier - 20,025 equity shares; Sundaram Mutual Fund A/C Sundaram Tax Saver (Open-Ended) Fund - 112,005 equity shares; Sundaram Mutual Fund A/C Sundaram Infrastructure Advantage Fund - 108,045 equity shares; Sundaram Mutual Fund A/C Sundaram Select Midcap - 510,975 equity shares; Sundaram Mutual Fund A/C Sundaram Select Small Cap Series - II - 36,990 equity shares; Sundaram Mutual Fund A/C Sundaram Value FundSeries - II - 11,970 equity shares; 2) IDFC Classic Equity Fund - 338,535 equity shares; IDFC Infrastructure Fund - 98,505 equity shares; IDFC Monthly Income Fund - 61,515 equity shares; IDFC Tax Advantage (ELSS) Fund - 301,500 equity shares; 3) FIL Investments (Mauritius) Ltd. - 800,000 equity shares; 4) SBI Infrastructure Fund - 800,000 equity shares; 5) Grandeur Peak Global Reach Fund – 154,698 equity shares; 6) Blackrock India Equities Fund (Mauritius) Limited - 799,965; 7) Reliance Capital Trustee Co. Ltd. A/C Reliance Equity Opportunities Fund - 799,965; 8) Morgan Stanley Investment Management Inc A/C Morgan Stanley India Investment Fund, Inc. - 605,385 equity shares; 9) Morgan Stanley Sicav (Mauritius) Ltd. - 194,580 equity shares;  10) Tata AIA Life Insurance Co. Ltd. - Large Cap Equity Fund - ULIF 017 07/01/08 TLC 110 - 225,000 equity shares; Tata AIA Life Insurance Co. Ltd. - Future Equity Pension Fund - ULIF 020 04/02/08 FEP 110 - 19,980 equity shares; Tata AIA Life Insurance Co. Ltd. - Pension Equity Fund - ULGF 001 02/03/04 E1 110 - 16,560 equity shares; Tata AIA Life Insurance Co. Ltd. - Top 200 Fund - ULIF 027 12/01/09 ITT 110 - 19,980 equity shares; 11) Birla Sun Life Insurance Company Limited - 800,000 equity shares; 12) Birla Sun Life Trustee Company Private Limited AC Birla Sun Life 95 Fund - 138,825 equity shares; Birla Sun Life Trustee Company Private Limited A/C Birla Sun Life Emerging Leaders Fund - SE - 67,635 equity shares; Birla Sun Life Trustee Company Private Limited A/C Birla Sun Life Emerging Leaders Fund - SE - 39,960 equity shares; Birla Sun Life Trustee Company Private Limited A/C Birla Sun Life Pure Value Fund - 126,135 equity shares; Birla Sun Life Trustee Company Private Limited A/C Birla Sun Life Manufacturing Equity Fund - 150,750 equity shares; Birla Sun Life Trustee Company Private Limited A/C Birla Sun Life Infrastructure Fund - 64,575 equity shares; Birla Sun Life Trustee Company Private Limited A/C India Excel (Offshore) Fund - 82,935 equity shares; Birla Sun Life Trustee Company Private Limited A/C Birla Sun Life Small and Midcap Fund - 129,195 equity shares; 13) Kotak Classic Equity - 30,780 equity shares; Kotak Equity Savings Fund - 7,695 equity shares; Kotak Midcap - 101,520 equity shares; Kotak Select Focus Fund - 141,559 equity shares; 14) Goldman Sachs India Fund Limited - 492,300 equity shares; 15) Swiss Finance Corporation (Mauritius) Limited - 517,005 equity shares; and 16) Indus India Fund (Mauritius) Limited - 498,420 equity shares.
The Company promoted by Gujarat Fluorochemicals Limited, will open on Wednesday, March 18, 2015, a public issue of equity shares of face value Rs. 10 each (“Equity Shares”) for cash, at a price per Equity Share (including a Share Premium) consisting of a Fresh Issue of Equity Shares aggregating up to Rs. 7,000 million (“Fresh Issue”) and an Offer for Sale of 10,000,000 Equity Shares by Gujarat Fluorochemicals Limited (“The Selling Shareholder”) (“Offer For Sale”). The Fresh Issue and the Offer for Sale are together referred to as the “Issue”. The Issue includes a reservation of 500,000 Equity Shares for subscription by Eligible Employees on a competitive basis (“Employee Reservation Portion”). The Issue less the Employee Reservation Portion is hereinafter referred to as the “Net Issue”.
The Price Band is fixed from Rs. 315 to Rs. 325 per Equity Share. The Bid/ Issue closes on March 20, 2015. The minimum Bid Lot is 45 Equity Shares and in multiples of 45 Equity Shares thereafter.
The Company and the Selling Shareholder, in consultation with the Global Co-ordinators and Book Running Lead Managers (“GC-BRLMS”) and the Book Running Lead Manager (“BRLM”) (together referred to as “Managers”) have decided to offer a discount of Rs. 15 to the Issue Price to Eligible Employees (“Employee Discount”) and Retail Investors (“Retail Discount”).
The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on the BSE and the NSE.
The Global Co-ordinators and Book Running Lead Managers (GC-BRLMs) to the Issue are Axis Capital Limited, DSP Merrill Lynch Limited and Edelweiss Financial Services Limited and the Book Running Lead Manager (BRLM) is YES Bank Limited.
The Issue is being made through the Book Building Process in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (“SEBI ICDR Regulations”), where in 50% of the Net Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”). The Company may, in consultation with the Managers, allocate up to 60% of the QIB Portion to Anchor Investors (the “Anchor Investor Portion”) at the Anchor Investor Allocation Price, on a discretionary basis, out of which at least one-third will be available for allocation to domestic Mutual Funds only.

The Anchor Investor shall bid on one Working Day prior to the Bid/ Issue Opening Date i.e., Tuesday, March 17, 2015. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Such number of Equity Shares representing 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remaining Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above Issue Price.

Further not less than 15% of the Net Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue shall be available for allocation to Retail Individual Bidders, subject to valid Bids being received from them at or above the Issue Price such that subject to availability of Equity Shares, each Retail Individual Bidder shall be Allotted not less than the minimum Bid Lot, and the remaining Equity Shares, if available, shall be allotted to all Retail Individual Bidders on a proportionate basis. Further, 500,000 Equity Shares shall be reserved for allocation on a proportionate basis to Eligible Employees, subject to valid Bids being received at or above the Issue price. All QIBs (other than Anchor Investors) and Non-Institutional Investors must compulsorily and Retail Individual Bidders and Eligible Employees may optionally participate in this Issue through the ASBA process by providing the details of their respective bank accounts in which the corresponding Bid Amounts will be blocked by the SCSBs.
 

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