Manpasand Beverages IPO opens today; allots shares to 11 anchor investors

India Infoline News Service | Mumbai | June 24, 2015 08:11 IST

Anchor investors include Goldman Sachs, Birla Sun Life Insurance, ICICI Prudential MF, Morgan Stanley, Bharti AXA Life, SBI MF, UTI MF, BNP Paribas, Shinhan BNPP, Amundi Funds & Ashoka Pte.

Manpasand Beverages
Manpasand Beverages Limited (the “Company” or “Issuer”) has finalized the allocation of 5,625,000 equity shares at Rs. 320 per equity share (upper end of the Price Band) aggregating to Rs. 180 crore (45% of the total Issue size of Rs. 400 crore).

The list of anchors include – BIRLA SUN LIFE INSURANCE COMPANY LIMITED - 575,145 equity shares (10.2% ot the total anchor investor portion); ASHOKA PTE LTD -156,285 equity shares (2.8%); ICICI PRUDENTIAL MUTUAL FUND A/C ICICI PRUDENTIAL FMCG   - 292950 equity shares (5.2%); ICICI PRUDENTIAL MUTUAL FUND A/C ICICI PRUDENTIAL GROWTH FUND SERIES 1 - 216855 equity shares (3.9%); ICICI PRUDENTIAL MUTUAL FUND A/C ICICI PRUDENTIAL GROWTH FUND SERIES 2  - 158400 equity shares (2.8%); ICICI PRUDENTIAL MUTUAL FUND A/C ICICI PRUDENTIAL GROWTH FUND SERIES 4  - 98100 equity shares (1.7%); ICICI PRUDENTIAL MUTUAL FUND A/C ICICI PRUDENTIAL GROWTH FUND SERIES 5 - 125595 equity shares (2.2%); ICICI PRUDENTIAL MUTUAL FUND A/C ICICI PRUDENTIAL GROWTH FUND SERIES 6   - 164970 equity shares (2.9%); ICICI PRUDENTIAL MUTUAL FUND A/C ICICI PRUDENTIAL VALUE FUND SERIES 6  - 182790 equity shares (3.2%); ICICI PRUDENTIAL MUTUAL FUND A/C ICICI PRUDENTIAL VALUE FUND SERIES 710305 equity shares (0.2%) ; BNP PARIBAS MUTUAL FUND A/C BNP PARIBAS MID CAP FUND  - 115650 equity shares (2.1%); BNP PARIBAS MUTUAL FUND A/C BNP PARIBAS LONG TERM EQUITY FUND 144900 equity shares (2.6%); BNP PARIBAS MUTUAL FUND A/C BNP PARIBAS DIVIDEND YIELD FUND   - 54945 equity shares (1.0%); SHINHAN BNPP BONJOUR INDIA EQUITY INVESTMENT TRUST MASTER INVESTMENT TRUST - 202995 equity shares (3.6%); MORGAN STANLEY MAURITIUS COMPANY LIMITED -156285 equity shares (2.8%); SBI MAGNUM MULTIPLIER PLUS SCHEME 1993- 125,010 equity shares (2.2%); SBI EQUITY OPPORTUNITIES FUND SERIES I- 156,240 (2.8%); SBI MAGNUM MULTICAP FUND     125,010 (2.2%); SBI MAGNUM MIDCAP FUND   - 218,745 (3.9%); SBI SMALL AND MIDCAP FUND   - 490,545 equity shares (8.7%); SBI MAGNUM CHILDREN'S BENEFIT PLAN -    9,405 equity shares (0.2%); SBI FMCG FUND -     125,010 equity shares (2.2%); GOLDMAN SACHS INDIA FUND -1,093,770 equity shares (19.4%); UTI-EQUITY TAX SAVING PLAN - 106,605 equity shares (1.9%); UTI-LONG TERM ADVANTAGE FUND  37,485 equity shares (0.7%); UTI-INDIA LIFESTYLE FUND- 87,525 equity shares (1.6%); UTI-LONG TERM ADVANTAGE FUND S II -  23,085 equity shares (0.4%); UTI-MULTICAP FUND  -  57,825 equity shares (1.0%); BHARTI AXA LIFE INSURANCE COMPANY LTD -156,285 equity shares (2.8%); and AMUNDI FUNDS A/C AMUNDI FUNDS EQUITY INDIA SELECT  - 156,285 equity shares (2.8%).

The Company will open on Wednesday, 24th June 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) aggregating Rs. 4,000 million (the “Issue”). The Price Band is fixed from Rs. 290 to Rs. 320 per Equity Share.

The Anchor Investors shall Bid during the Anchor Investor Bidding Period, i.e., one Working Day prior to the Bid Opening Date; i.e., 23rd June 2015. The minimum Bid Lot is 45 Equity Shares and in multiples of 45 Equity Shares thereafter. The Bid/ Issue closes on Friday, 26th June 2015. The Equity Shares offered through the Red Herring Prospectus dated 15th June 2015 are proposed to be listed on the BSE Limited and the National Stock Exchange of India Limited.

The Book Running Lead Managers (‘BRLMs‘) to the Issue are Kotak Mahindra Capital Company Limited, IIFL Holdings Limited and ICICI Securities Limited.

The Issue is being made through the Book Building Process in compliance with the provisions of Regulation 26(2) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended, [the “SEBI Regulations”], wherein at least 75% of the Issue shall be allotted on a proportionate basis to Qualified Institutional Buyers (“QIBs”). The Company may, in consultation with the BRLMs, allocate up to 60% of the QIB Portion to Anchor Investors 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. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the portion of the QIB Portion less the number of Equity Shares Allotted to the Anchor Investors(“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. The remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to QIBs, subject to valid Bids being received from them at or above the Issue Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs. If at least 75% of the Issue cannot be Allotted to QIBs, all the application monies will be refunded forthwith. Further, not more than 15% of the Issue shall be available for allocation on a proportionate basis to Non Institutional Bidders and not more than 10% of the Issue shall be available for allocation to Retail Individual Bidders, subject to valid Bids being received from them at or above the Issue Price. All Investors, other than an Anchor Investor, may participate in this Issue through the Application Supported by Blocked Amount (“ASBA”) process by providing the details of their respective bank accounts in which the corresponding Bid Amounts will be blocked by the Self Certified Syndicate Banks.

Manpasand Beverages Limited is a fruit drink manufacturing company with a primary focus on mango fruit, which is the leading flavour for juice drinks in India (Source: Report titled ‘Soft Drinks in India’ published in May 2014 by Euromonitor International Limited). Its mango based fruit drink, ‘Mango Sip’, is the flagship brand, which is strategically focused towards customers primarily based in semi urban and rural markets.

Capitalized terms not defined here shall have the same meaning given to them in the Red Herring Prospectus dated 15th June 2015.
 

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