Gets bids for 54.80 crore shares
The initial public offering (IPO) of S H Kelkar and Company closed with total bids for 54.80 crore shares yesterday, 30 October 2015, as per data from the National Stock Exchange (NSE). The IPO was subscribed 27.08 times.
The company saw the qualified institutional investor (QIB) bidding for 15.03 crore shares, about 25.55 times the number of shares on offer in this segment, which is 58.82 lakh shares.
Non-institutional investors bid for 37.62 crore shares, or 87.38 times, against the quota limit of up to 43.05 lakh shares.
Retail investors, on the other hand, bid for 2.14 crore shares, or 2.14 times, against 1 crore shares set aside for the category.
S H Kelkar and Company raised Rs 152.45 crore by selling 84.69 lakh shares to a total of 13 anchor investors ahead of the company's IPO. The shares were allotted to the anchor investors at Rs 180 per share, the top end of the Rs 173-Rs 180 per share price band for the IPO.
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The IPO consists of a fresh issue of equity shares aggregating up to Rs 210 crore and an offer for sale (OFS) of upto 1.31 crore equity shares by Blackstone Capital Partners (Singapore) VI FDI Two Pte. Ltd, up to 86,575 equity shares by Blackstone Family Investment Partnership (Singapore) VI-ESC FDI Two Pte. Ltd. and up to 33.37 lakh equity shares by Prabha Ramesh Vaze.
The company intends to utilise Rs 126 crore from the net proceeds of the fresh issue towards repayment/pre-payment in full or in part of certain loans availed by the company. The company also plans to utilise about Rs 32 crore towards investment in K.V. Arochem Private Limited (KVA), the company's wholly owned subsidiary for repayment/pre-payment in full or in part of certain loans availed by KVA and other proceeds for general corporate purposes.
S H Kelkar & Company reported a consolidated net profit of Rs 20.66 crore on total revenue of Rs 223.97 crore in the quarter ended 30 June 2015. The company's consolidated net profit declined 18.61% to Rs 64.38 crore on 11.85% growth in total revenue to Rs 860.33 crore in the year ended 31 March 2015 (FY 2015) over the year ended 31 March 2014 (FY 2014).
S H Kelkar & Company along with its subsidiaries is engaged in the manufacture, supply and exports of fragrances (including aroma ingredients) and flavours.
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