Taksheel Solutions Ltd

Grade 2 by CARE
4.2/5 from 5 Votes
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Taksheel Solutions Limited (Taksheel) is a specialised solutions provider offering Application services, Data Warehousing & Business Intelligence and Offshore Outsourcing. Taksheel was incorporated as IBSS Techno-Park Private Limited at Hyderabad in 1999. Subsequently, the name of the Company was changed to Taksheel Solutions Private Limited in November 2006.


The company was converted into a public limited company in December 2006. In 2007, Taksheel acquired clients of Dataformix Technologies Inc. which enabled it to establish its foothold in Data Warehousing & Business Intelligence business. In 2009, Taksheel acquired telecom software products from Verisoft Business Solutions Pvt. Ltd. Taksheel has acquired products in IP multimedia system (IMS), Telecom Signalling Integrated Standard Digital Network (ISDN), Channel Associated Signalling (CAS), Signalling System 7(SS7), Short Message Service Centre (SMSCs), Least Cost Routing system (LCR), Optimal Routing Solutions (ORS), Voice Mail Servers (VMS) and other Value Added Services (VAS) content delivery platforms.

Objects of the issue:

» Capital expenditure for setting up a new software development center at Hyderabad.
» Capital expenditure for setting up a new software development center at Warangal.
» Acquisitions and Other Strategic Initiatives.
» Financing the incremental working capital requirements.
» General Corporate Purpose.
» To meet the issue expenses.

Company Address:

Address:
Taksheel Solutions Ltd,
Incubation Center,
Lanco Hills Technology Park Pvt Ltd (SEZ),
Survey No 201, Manikonda, Rajendra Nagar Mandal,
Hyderabad 500 089,
Andhra Pradesh, India
Phone:91-40-40215915/16/17
Fax:+91 40 40215916
Email:info@taksheel.com
Website:www.taksheel.com

IPO Details:

Information Value
Open Date29-Sep-2011
Close Date04-Oct-2011
Allotment Date14-Oct-2011
Refund Date15-Oct-2011
Listing Date19-Oct-2011
Issue PriceRs. 130 - Rs. 150
Isuue Type100% Book Building Issue
Issue Size5500000 Equity Shares of Rs. 10
Lot Size» Minimum : 45 Shares
» Maximum : 630 (1 Lac) , 1305 (2 Lac)
Max Amount for Retail Investor200000
Listing OnBSE,NSE
Lead ManagerPNB Investment Services Ltd
RegistrarBigshare Services Pvt.Ltd
Registrar Emailtsl.ipo@bigshareonline.com
Registrar Websitewww.bigshareonline.com
Registrar Phone+91 22 40430200
Application Multiple45 and in multiples there off starting with atleast 45 shares
Cheque in Favour ofNA
Listing OpenRs. 157.40 / Rs. 157 (BSE/NSE)
Listing CloseRs. 55.85 / Rs. 58.15 (BSE/NSE)
Listing HighRs. 185 / 184.30 (BSE/NSE)
Listing LowRs. 38.50 / Rs. 39.10 (BSE/NSE)
Prospectus Download Download
Application Forms Download Download
ASBA E-Form Download Download
IPO Grading Download Download

Taksheel Solutions Ltd Financial Details:

The total income of Taksheel registered a y-o-y growth rate of around 197% during FY11 over FY10, primarily due to addition of five new clients during the same period in wealth management solutions vertical. The revenue contribution from the wealth management solutions has grown from 51% of total income in FY10 to 71% of total income in FY11. The PBILDT, in absolute terms, had improved during FY11 in line with the increase in top line. However PBILDT margin has declined significantly in FY11 due to higher administrative expenses resulting from consultancy charges of Rs 5.62 cr being paid for acquiring new clients in FY11.


PBILDT levels were low in FY09 on account of the foreign exchange losses during that period. Interest cost has increased in FY11 on account of the higher working capital utilization during the same period to fund incremental business requirements, which also resulted in higher overall gearing as on March 31, 2011. However overall capital charges have grown at much lower rate compared to the growth in company’s top line during FY11 primarily due to the similar level of depreciation.


Taksheel’s depreciation is on the lower side on account of smaller asset base of the company. Company’s skeleton development centre in Hyderabad is on lease. PAT margins have improved in FY11 in spite of the decline in PBILDT margins on account of relatively lower growth in capital charges. High current ratio during the last three years is mainly due to higher levels of debtors along with loans and advances to the subcontracting firms. Taksheel’s operating cycle has improved significantly in FY11 on account of significant decline in debtor levels. Taksheel realizes last installment of payment once the project is completed. As company completed few of its running projects during FY11, debtor levels declined significantly which resulted in improved collection period. However operating cycle still remains on higher side.


*Source : CARE Ratings

Taksheel Solutions Ltd Grey Market Price - Premium - Rates

Warning: Do not subscribe to any IPO's on the basis of grey market price or IPO Forecast. Please check the fundamentals of the company before applying. Use grey market price as an information tool.

Date GM Premium Kostak Rate
26-Sep-2011Rs. 2.25 - 3.00Rs. 2300 - 2400 (2 Lac)
27-Sep-2011Rs. 1.50 - 1.75----
28-Sep-2011Rs. 1.25 - 1.75----
29-Sep-2011Rs. 1.25 - 1.75----
03-Oct-2011Rs. 1.50 - 1.75Rs. 2200 - 2300 (2 Lac)
05-Oct-2011Rs. 1.50 - 1.75Rs. 2300 - 2400 (2 Lac)
07-Oct-2011Rs. 1.50 - 1.75----
10-Oct-2011Rs. 4 - 4.25----
11-Oct-2011Rs. 4 - 4.25----
12-Oct-2011Rs. 4 - 4.50----
13-Oct-2011Rs. 4 - 4.25----
14-Oct-2011Rs. 4 - 4.25----
17-Oct-2011Rs. 2.50 - 2.75----
18-Oct-2011Rs. 2.50 - 2.75----

Taksheel Solutions Ltd Subscription Details:

Date Retail QIB Non Institutional Employee Overall
29-Sep-20110.320.291.36NA0.46
30-Sep-20110.730.241.92NA0.67
03-Oct-20112.040.242.32NA1.18
04-Oct-20116.180.244.70NA2.99

Taksheel Solutions Ltd Basis of allotment:

(This is only an advertisement for information purpose not for publication or distribution, directly or Indirectly outside India, and not a prospectus announcement)

TAKSHEEL SOLUTIONS LIMITED

(The Company was originally incorporated as IBSS Techno-Park Private Limited on September 23,1999 with the Registrar of Companies, Andhra Pradesh, Hyderabad Under the Companies Act, 1956. Name of the Company was subsequently changed to Taksheel Solutions Private Limited on November 29,2006 and the Company was converted into a Public Limited Company on December 06,2006. Consequent on its conversion, the Registrar of Companies, Andhra Pradesh, Hyderabad has issued a fresh certificate of Incorporation dated December 28,2006. The Company's CIN is: U72200AP1999PLC032556). (For details of change in the name and the Registered office, refer to the chapter titled "History and other Corporate Matters" beginning on page 106 of the Prospectus)

Registered Office: Lanco Hills Technology Park Private Limited (SEZ), Survey No. 201, Manikonda Village, Rajendra Nagar Mandal, Hyderabad - 500 089, Andhra Pradesh, India; Tel:+91 -40-40215915/17; Fax: +91-40-40215916; Website: www.taksheel.com; Email: ipo@taksheel.com, Contact Perton: Mr. Ankit Oas - Company Secretary and Compliance Officer.

Promoters of'the Company: MR. PAVAN KUMAR KUCHANA, MR. RAMASWAMY KUCHANA AND LEXICON PRIVATE LIMITED

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 55,00,000 EQUITY SHARES OF RS 10/- EACH OF TAKSHEEL SOLUTIONS LIMITED (THE "COMPANY" OR "OUR COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS 150/- PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 140/- PER EQUITY SHARE) AGGREGATING TO RS 8250 LAKHS ("THE ISSUE"). THE ISSUE WILL CONSTITUTE 25.17% OF THE FULLY DILUTED POST ISSUE PAID UP CAPITAL OF THE COMPANY.

BID/ISSUE OPENED ON SEPTMEMBER 29,2011 & CLOSED ON OCTOBER 04,2011. ISSUE PRICE: RS 150/- PER EQUITY SHARE OF FACE VALUE OF RS 10/- EACH. THE ISSUE PRICE IS 15 TIMES OF THE FACE VALUE.

The Equity Shares of the Company are proposed to be listed on the Bombay Stock Exchange limited ("BSE") and the National Stock Exchange of India Limited ("NSE") and the trading will commence on October 18,2011

The Issue was made through the 100% Book Building Process wherein up to 50% of the Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs"), out of which 5% of QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds. The balance shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid bids received from them at or above the Issue price. Further, not less than 15% of the Issue shall be available for allocation on a proportionate basis to non Institutional Bidders and not less than 35% of the Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price.

The Issue received 10289 applications for 16212645 Equity shares resulting in 2.95 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Individual Investor categories are as under: (Before technical rejections)

Sr.No. Category No. of Applications No. of Equity Shares Bidded No. of times subscription
A Retail Individual Bidders 10238 11754450 6.11
B Non Institutional Bidders 50 3791520 4.60
C QIB 1 666675 0.24
Total 10289 16212645 2.95

Final Demand
A summary of the final demand as per BSE and NSE as on the Bid/Issue Closing date at different bid prices is as under:

Bid Price (RS) No. of Equity Shares % to Total Cumulative Total Cumulative % to total
130.00 46620 0.01 16428915 100
131.00 135 0.00 16382295 99.72
132.00 180 0.00 16382160 99.72
135.00 180 0.00 16381980 99.71
138.00 45 0.00 16381800 99.71
140.00 39240 0.01 16381755 99.71
145.00 720 0.00 16342515 99.47
150.00 5630040 1.02 16341795 99.47
9999.00 10711755 1.95 10711755 65.20
TOTAL 16428915 2.99

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being The Bombay Stock Exchange Limited ("BSE") on October 12,2011 The Board of Directors of the Company at its Meeting held at Hyderabad, on October 13, 2011 allotted the Equity Shares to the successful applicants. Details of valid applications received and allotments done are as under:

A. Allotment to Retail Individual Investors (After Technical Rejections)

The Basis of Allotment to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 150/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 3.434 times. As per the Prospectus, the spill over portion from QIB Category was 14,58,328 Equity Shares. The total number of equity shares allotted in this category is 33,83,328 Equity Shares to 9873 successful applicants. The category-wise details of the Basis of Allotment are as under:

Category Number of Applications % to Total Total Number of Equity Shares applied % to Total Number of Equity Shares allotted Ratio Total Number of Equity Shares allotted
45 243 2.41 10935 0.09 3184 26:89 3195
90 109 1.08 9810 0.08 2856 37:63 2880
135 66 0.65 8910 0.08 2594 29:33:00 2610
180 62 0.61 11160 0.10 3249 Firm 3224
225 46 0.46 10350 0.09 3014 Firm 3036
270 42 0.42 11340 0.10 3302 Firm 3318
315 38 0.38 11970 0.10 3485 Firm 3496
360 29 0.29 10440 0.09 3040 Firm 3045
405 17 0.17 6885 0.06 2005 Firm 2006
450 35 0.35 15750 0.14 4586 Firm 4585
495 9 0.09 4455 0.04 1297 Firm 1296
540 19 0.19 10260 0.09 2987 Firm 2983
585 22 0.22 12870 0.11 3747 Firm 3740
630 996 9.86 627480 5.40 182698 Firm 182268
630 Additional 0 4:85 47
675 33 0.33 22275 0.19 6486 Firm 6501
720 12 0.12 8640 0.07 2516 Firm 2520
765 3 0.03 2295 0.02 668 Firm 669
810 10 0.10 8100 0.07 2358 Firm 2360
855 21 0.21 17955 0.15 5228 Firm 5229
900 10 0.10 9000 0.08 2620 Firm 2620
945 8 0.08 7560 0.07 2201 Firm 2200
990 5 0.05 4950 0.04 1441 Firm 1440
1035 5 0.05 5175 0.04 1507 Firm 1505
1080 3 0.03 3240 0.03 943 Firm 942
1125 10 0.10 11250 0.10 3276 Firm 3280
1170 9 0.09 10530 0.09 3066 Firm 3069
1215 8 0.08 9720 0.08 2830 Firm 2832
1260 16 0.16 20160 0.17 5870 Firm 5872
1305 8212 81.32 10716660 92.22 3120274 Firm 3120560
Total 10098 100 11620125 3383328

B. Allotment to Non Institutional Investors (After Technical Rejections)

The basis of allotment to Non Institutional Investors, who have bid at the Issue Price of Rs. 150/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 2.607 times. As per the Prospectus, the spill over portion from QIB Category was 6,24,997 equity shares. The total number of equity shares allotted In this category is 14,49,997 to 48 successful applicants. All the applicants in this category have been given firm allotment. The category-wise details of the Basis of Allotment are as under:

Category Number of Applications % to Total Total Number of Equity Shares applied % to Total Number of Equity Shares allotted Ratio Total Number of Equity Shares allotted
1350 1 2.08 1350 0.04 518 Firm 518
1440 1 2.08 1440 0.04 552 . Firm 552
5265 1 2.08 5265 0.14 2019 Firm 2019
6615 1 2.08 6615 0.17 2536 Firm 2536
6660 2 4.17 13320 0.35 5107 Firm 5108
6750 1 2.08 6750 0.18 2588 Firm 2588
13320 1 2.08 13320 0.35 5107 Firm 5107
14985 1 2.08 14985 0.40 5746 Firm 5746
16650 9 18.75 149850 3.96 57459 Firm 57456
18900 1 2.08 18900 0.50 7247 Firm 7247
26550 1 2.08 26550 0.70 10180 Firm 10180
26640 1 2.08 26640 0.70 10215 Firm 10215
29970 1 2.08 29970 0.79 11492 Firm 11492
33300 5 10.42 166500 4.40 63843 Firm 63845
39960 1 2.08 39960 1.06 15322 Firm 15322
54000 1 2.08 54000 1.43 20706 Firm 20706
59985 1 2.08 59985 1.59 23001 Firm 23001
66690 2 4.17 133380 3.53 51143 Firm 51144
133335 7 14.58 933345 24.68 357884 Firm 357882
166680 2 4.17 333360 8.82 127824 Firm 127824
199980 1 2.08 199980 5.29 76681 Firm 76681
233325 2 4.17 466650 12.34 178933 Firm 178934
246645 1 2.08 246645 6.52 94575 Firm 94575
266400 2 4.17 532800 14.09 204298 Firm 204298
299970 1 2.08 299970 7.93 115021 Firm 115021
Total 48 100.00 3781530 1449997

C. Allotment to QlBs (After Technical Rejections)
One Valid application for 666675 shares were received from Fll against 2750000 equity shares reserved for this category resulting in subscription of 0.242 times. Under the QIB portion 5% was reserved for Mutual Funds. As no Mutual Funds applications were received in the issue, the entire Mutual Fund is allocated to all the other QIB's. However due to under subscription in the said category, full and firm allotment have been made in the QIB category. The under subscribed 2083325 shares from QIB category have been spilled overto Retail and Non Institutional category in the ratio of 70:30.

Dates of dispatch of Refund Orders. Credit to beneficiary Accounts. Refund instructions and Listino details

Activity Date of Completion
Approval of Basis of Allotment by BSE October 12,2011
Dispatch of Allotment Advices .Refund Orders and ECS Intimation Note October 13,2011
Refund Instructions to the Clearing System (in case of Refunds through NECS system) October 13,2011
Instructions to the Self Certified Syndicate Banks (SCSBs) by the registrar October 13,2011
Creditto beneficiary Accounts October 13,2011
Listing Application to BSE &NSE October 14,2011

The Board of Directors of the Company at it's Meeting held on October 13,2011 has taken on record the basis of allocation of shares approved by the Designated Stock Exchange viz., Bombay Stock Exchange Limited ("BSE"), Mumbai, and has authorized the Corporate Action forthe transfer of the shares to various successful applicants. Refunds have been made through NECS and Direct credit, into the Bank Accounts of the applicants, as registered with the depositories. For other applicants Refund Orders have been dispatched to their address as registered with the depositories. In case the same is not received within ten days, investors may contact at the address given below. The Refund Orders have been over-printed with the Bank Mandate details as registered, if any, with the depositories. The shares allocated to successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. The company is taking steps to get the Equity shares admitted for trading on BSE and NSE.

Note: All capitalized terms used and not defined herein shall have the respective meaning assigned to them in the Prospectus dated October 10,2011 ("Prospectus").
INVESTORS PLEASE NOTE: This details of the allotment made would be hosted on the website of Registrars to the Issue, Bigshare Services Private Limited at www.bigshareonline.com

All future correspondence in this regard may kindly be addressed to the Registrars to the issue quoting full name of the First/ Sole applicant, Serial number of the bid-cum- application form, number of shares bid for, name of the Member of the Syndicate and Place where the bid was submitted and payment details at the address given below:

BIGSHARE SERVICES PRIVATE LIMITED
E/2, Ansa Industrial Estate, Sakivihar Road, Sakinaka, Andheri (E), Mumbai - 400 072. Tel. No.: +91-22-4043 0200, Fax No.: +91-22-2847 5207,
Website: www.bigshareonline.com, E-Mail: tsl.ipo@bigshareonline.com, Contact Person: Mr. Babu Raphael,
SEBI Registration No.: INR000001385

Place: Hyderabad
Date: 14/10/2011
For Taksheel Solutions Limited
Sd/-
PAVAN KUMAR KUCHANA,
Chairman & Managing Director

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF TAKSHEEL SOLUTIONS LIMITED.

Disclaimer: Taksheel Solutions Limited (the Issuer Company") is proposing, subject to market conditions and other considerations, a Public Issue of its Equity shares and has filed the Prospectus with the Registrar of Companies, Andhra Pradesh, Hyderabad. The Prospectus is available on the website of Securities and Exchange Board of India (SEBI) at www.sebi.gov.in and the website of the Book Running Lead Manager: PNB Investment Services Limited at www.pnbisl.com and the Issuer Company, Taksheel Solutions Limited at www.taksheel.com. Any potential investor should note that investment in equity shares involves a high degree of risk. For details, see the section titled "Risk Factors" beginning on page no. xvi of the Prospectus.

This advertisement is not an offer of securities for sale in the United States or elsewhere. This advertisement may not be published or distributed in the United States. The shares of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended ("U.S. Securities Act") or any state securities laws in the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S), except pursuant to an ^exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. 360degree pr





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