July 20, 2016 - July 22, 2016

Advanced Enzyme IPO Basis of Allotment

ADVANCED ENZYME TECHNOLOGIES LIMITED

Our Company was incorporated as a private limited company on March 15,1989 under the provisions, of the Companies Act, 1956 as Advanced Biochemicals Private Limited in Maharashtra. Pursuant to a special resolution passed by the shareholders, of our Company at the extra-oridinary general meeting held on April 21,1992, our Company was converted into a public limited company and consequently the name of our Company was changed to Advanced Biochemicals Limited. A fresh certificate of change of name reflecting the new name was issued by the Registrar of Companies, Maharashlra on Maty 28.1992. Pursuant to a special resolution passed by the shareholders of our Company at the extra-ordinary general meeting held on August 8, 2005.the name of our Company was further changed from Advanced Biochemicals Limited to Advanced Enzyme Technologies Limited. A fresh certificate of incorporation reflecting the new name was issued by the Registrar of Companies. Maharashtra, Mumbai on August 19.2005. For details of changes in the name and the registered office of our Company, see the chapter titled 'History and Certain Corporate Matters' beginning on page 188 of the Prospectus.
Registered Office &. Corporats Office: Sun Magnetics. 5th Floor, Near L I C Service Road, Louiswadi, Thane - 400604. Maharashtra, India. Tel: +91-224170 3200. Fax: +91-22-25635159. Contact Person: Mr. Prabal Bordiya, Company Secretary and Compliance Officer, E-mail: prabal@advancedenzymes.com, Website: www.advancedenzymes.com, Corporate Identification Number U24200MH1989PLC051018.

OUR PROMOTERS: MR. VASANT LAXMINARAYAN RATHI AND MR.CHANDRAKANT LAXMINARAYAN RATHI

The Equity Shares are proposed to be listed on the BSE Limited ('BSE') and the National Stock Exchange of India Limited ('NSE') and the trading will commence or August 1,2016.

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFER OF 4,594,875 EQUITY SHARES OF FACE VALUE OF RS 10 EACH ('EQUITY SHARES') OF ADVANCED ENZYME TECHNOLOGIES LIMITED (OUR 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS 896 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 886 PER EQUITY SHARE) AGGREGATING TO RS 4,114.88 MILLION (THE 'OFFER') CONSISTING OF A FRESH ISSUE OF 560.405 EQUITY SHARES AGGREGATING TO RS 500 MILLION (THE 'FRESH ISSUE') AND AN OFFER FOR SALE OF, 4,00,000 EQUITY SHARES BY CHANDRAKANT RATHI INNOVATIONS AND PROJECTS PRIVATE LIMITED, 50,000 EQUITY SHARES BY KISHOR LAXMINARAYAN RATHI, 30,000 EQUITY SHARES BY MANGALA MADHUSUDAN KABRA, 17,00,000 EQUITY SHARES BY VASANT LAXMINARAYAN RATHI, 5,00,000 EQUITY SHARES BY THE VASANT AND PRABHA RATHI GENERATION TRUST, (COLLECTIVELY THE 'PROMOTER GROUP SELLING SHAREHOLDERS') AND 17,900 EQUITY SHARES BY KOTAK EM PLOYEES INVESTMENT TRUST, 1,62,700 EQUITY SHARES BY KOTAK INDIA VENTURE FUND I AND 3,36.600 EQUITY SHARES BY KOTAK INDIA VENTURE (OFFSHORE) FUND (COLLECTIVELY THE 'INVESTOR SELLING SHAREHOLDERS') AND 447,270 EQUITY SHARES BY PERSONS LISTED IN ANNEXURE 'A' (COLLECTIVELY THE 'OTHER SELLING SHAREHOLDERS'!') AND 40,000 EQUITY SHARES BY MUKUND MADHUSUDAN KABRA. 3,50,000 EQUITY SHARES BY PRADIP BHAILAL SHAH (COLLECTIVELY THE 'OTHER SELLING SHAREHOLDERS-!!') AGGREGATING TO RS 3,614,89 MILLION ('OFFER FOR SALE'), AND TOGETHER WITH THE FRESH ISSUE (THE 'OFFER') THE OFFER COMPRISES A NET OFFER TO THE PUBLIC OF 4,570,184 EQUITY SHARES (THE 'NET OFFER') AND RESERVATION OF 24,691 EQUITY SHARES AGGREGATING TO RS 20 MILLION FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (AS DEFINED HEREIN) NOT EXCEEDING 5% OF OUR POST-OFFER PAID-UP EQUITY SHARE CAPITAL (THE 'EMPLOYEE RESERVATION PORTION'). THE OFFER WOULD CONSTITUTE 20.58% OF OUR POST-OFFER PAID-UP EQUITY SHARE CAPITAL AND THE NET OFFER TO THE PU BLIC WOULD CONSTITUE 20.47% OF OUR POST-OFFER PAID-UP EQUITY SHARE CAPITAL. OUR COMPANY, IN CONSULTATION WITH THE SELLING SHAREHOLDERS AND THE BOOK RUNNING LEAD MANAGERS ('BRLMS'), OFFERED AD ISCOUNT OF RS 86 PER EQUITY SHARE (EQUIVALENT TO 9.60%) ON THE OFFER PRICE TO ELIGIBLE EMPLOYEES ('EMPLOYEE DISCOUNT'). THE FACE VALUE OF THE EQUITY SHARES IS RS 10 EACH.

OFFER PRICE: RS 896* PER EQUITY SHARE OF FACE VALUE OF RS 10 EACH * A DISCOUNT OF RS 86 PER EQUITY SHARE (EQUIVALENT TO 9.60%) ON THE OFFER PRICE HAS BEEN OFFERED TO ELIGIBLE EMPLOYEES ANCHOR INVESTOR OFFER PRICE: RS 896 PER EQUITY SHARE THE OFFER PRICE IS 89.6 TIMES THE FACE VALUE
Risks to Investors: i. Out of Rs 50 crores proposed to be raised as Fresh Issue, around Rs 40 c rores i .e 80 % of the proceeds of the Fresh Issue shall be used to repay/ prepay certain loans availed by the Company from the promoter and group company through the Wholly owned Subsidiary, Advanced Enzymes USA. The Company has decided to retain loans from other banks at higher rate of interest and repay / prepay certain loans from promoter and group company which is at lower rate of interest ii. The 2 (two) Merchant Bankers associated with the Offer have handled 22 (twenty two) public issues in the past three years out of which 7 (seven) issues closed below the issue price on listing date. iiii The price / earnings ratio based on annualised consolidated diluted EPS for the year ended March 31,2016 for the Issuer at the upper end of the Price band is as high as 24.37 on a consolidated basis and 91.80 on an unconsolidated basis, as compared to the NIFTY 50 Index Price / Earnings ratio of 20.89 (as on March 31,2016). iv. There is no listed peer group company of the Issuer. v. Average cost of acquisition of Equity Shares for Promoter Group Selling Shareholders is Rs 20.46 per share, average cost of acquisition of Equity Shares for Investor Selling Shareholders is Rs 290.00 per share, average cost of acquisition of Equity Shares for Other Selling Shareholders-II is Rs 4.24 per share and the Public Offer at the upper end of the Price Band is as high as Rs 896 per share. vi.The Weighted Average Return on Net Worth as per the Company's Unconsolidated Financial Information, as restated, and Consolidated Financial Information, as restated for the last three financial years (viz. FY 16, FV15, and FY 14) is 11.47% and 24.03% respectively.

BID/OFFER PERIOD: OPENED ON*: WEDNESDAY JULY 20, 2016
CLOSED ON: FRIDAY JULY 22, 2016
*The Anchor Investor Bid/Offer Period opened and closed
one Working Day prior to the Bid/Offer Opening date, i.e. July 19, 2016.

Pursuant to Rule 19(2)(b)(ii) of the Securities Contracts (Regulation) Rules, 1957, as amended (the 'SCRR'), the Equity Shares issued In this Offer shall aggregate to atleast such percentage of the post- Offer Equity Share capital of our Company, calculated at the Offer Price, that will be equivalent to at least Rs 4,000 million and the post-offer capital of our Company at the Offer Price is more than Rs 16,000 million but less than or equal to Rs 40,000 million, In the event the post-Offer Equity Share capital of our Company calculated at the offer Price is lesser than or equal to Rs 16,000 million, the Offer will be deemed to be undertaken in terms of Rule 19(2)(b} of the SCRR. The Offer it being made through the Book Building Process in compliance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009. as amended (the 'SEBI Regulations'), wherein 50% of the offer was allocated on a proportionate basis to qualified institutional buyers ('QIBs') (the ''QIB Portion'), out of which our Company, in consultation with the Selling Shareholders and BRLMs allocated upto60% of the QIB Portion to Anchor Investors(' Anchor investor Portion') on a discretionary basis, out of which atleast one-third shall be reserved tor domestic Mutual Funds only, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Offer Price. Further, 5% of the QIB Portion (excluding the Anchor Investor Portion) was available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion was available for allocation on a praportionaie basisto all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or abov ethe Offer Price. Further, not less than 15% of the Offer was available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the offer was available for allocation to Retail Individual Bidders, subject to valid Bids being receieved at or above the Offer Price.

All potential Bidders, other than Anchor Investors, are mandatorily required to participate in this Offer thraugh an Application Supported by Blocked Amount ('ASBA') process providing details of their respective bank accounts which will be blocked by the Self Certified Syndicate Banks ('SCSBs'). For details,, see chapter tilled 'Offer Procedure' begining on page 385 of Prospectus.

The Offer received 785,165 applications for 375,059,792 Equity Shares (prior to technical rejections) resulting in 81,626 times subscription. The details of the applications received in the Offer from various categories are as under, (before technical rejections)

	Category	No of Applications	No. of Equity Shares applied	Shares Reserved#	No. of times Subscribed	Application Amount (Rs)
A,	Retail individual Bidders	783,490	18,165,376	1,599,565	11.356	16,289,662,036
B	Non- Institutional Bidders	1,337	268,644,672	685,528	391.880	240,707,123,958
C.	Qualified Institutional Buyers	107	86,369,184	914,038	94.492	77,386,788,864
D	Eligible Employees	203	40,640	24,691	1.646	32,929,600
E.	Anchor Investors	23	1,839,920	1,371,053	1.342	1,648,568,320
	Total	785,165	375,059,792	4,594,875	81.626	336,065,072,778

# At the upper end of the price band: and for Eligibile Employees, adjusted for Employee Discount.

Final Demand
A summary of the final demand as per BSE and NSE as on the Bid/Ofier Closing Date at different Bid prices is as under

Sr. No	Bid Price (Rs)	No. of Equity Shares	% to Total	Cumulative Total	Cumulative % of Total
1.	880	117,120	0.03	117,120	0.03
2.	881	6,608	0.00	123,728	0.03
3.	882	2,256	0.00	125,984	0.03
4.	883	1,008	0.00	126,992	0.03
5.	884	752	0.00	127,744	0 03
6.	885	15,648	0.00	143,392	0.04
7.	886	7,584	0.00	150,976	0.04
8.	887	864	0.00	151,840	0 04
9.	888	22,416	0.01	174,256	0.05
10.	889	1,552	0.00	175.808	0.05
11.	890	48,352	0.01	224,160	0.06
12.	891	1,584	0.00	225,744	0 06
13.	892	12,752	0.00	238,496	0.06
14.	893	2,320	0.00	240,816	0.06
15.	894	9,280	0.00	250,096	0.07
16.	895	15,632	0.00	265,728	0.07
17.	896	358,905,248	95.60	359,170,976	95.67
18.	CUT-OFF	16,255,248	4.33	375,426,224	100.00
	TOTAL	375,426,224	100.00

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being the BSE on July 28,2016.

A. Allotment to Retail Individual Bidders (after technical rejections)

The Basis of Allotment to the Retail Individual Bidders, who have bid at the Cut-Off Price or at the offerr Price of Rs 896 per Equity Share, was. finalized in consultation with the BSE. This category has been subscribed to the extent of 11.122 times. Since the number of Retail Individual Bidders who had submitted valid Bids in the Offer was more than Maximum Retail Indhridual Bidders Allottees, the Retail Individual Bidders (in that category ) who were allotted minimum Bid Lot have been determined on the basis of draw of lots. The total number of Equity Shares Allotted in Retail Portion is 1,599,565 Equity Shares to 99,972 successful Retail Individual Bidder. The category-wise details of the Basis of Allotment are as under:

Category	No. of Applications Received	% of Total	Total No.of Equity Shares Applied	% to Total	No.of Equity Shares Allotted per Bidder	Ratio	Total No.of Equity Shares Allotted
16	695,164	60.36	11,122,624	62.52	16	23:177	1.445.312
32	25,048	3.26	801,536	4 51	16	23:177	62,030
48	10,962	1.42	526,176	2.96	16	23:177	22,764
64	5,487	0.71	351,168	1.67	16	23:177	11.403
80	5,186	0.67	414,880	2.33	16	23:177	10.734
96	4,365	0.57	419,040	2.36	16	23:177	9,072
112	3,851	0.50	431,312	2.42	16	23:177	6,000
128	1,115	0.14	142,720	0.80	16	23:177	2,320
144	838	0.11	120,672	0.68	16	23:177	1.744
160	2,248	0.29	359,680	2.02	16	23:177	4.672
176	635	0.08	111,760	0.63	16	23:177	1,323
192	1,080	0.14	207,360	1.17	16	23:177	2,2*0
208	13,374	1.74	2,781,792	15.64	16	23:177	27.303
9640 Allottees from Serial no. 2 to 13 Additional 1 (one) share						1:741	13
Total	769,353	100.00	17,790,720	100.00			1,599,565

B. Allotment to Non- Instiutional Bidders (After Technical Rejections)

The Basis of Allotment to theNon Institutional Bidders, who have bid at the Offer Price of Rs 896 per Equity Share or above, was finalized in consultation with the BSE. The Non Institutional portion has been subscribed to the extent of 391.840 times. Since the prapotionate allotment for Non Institutional Investors was less than the minimum bid Lot per Bidder in certain cases, the successful Bidders in the Non-Institutional Investors category were determined by draw of lots. The total number of Equity Shares Attained in this category is 685,528 Equity Shares to 529 successful Non- Instiutional Bidder The category-wise details of the Basis of Allotment are as under (SAMPLE):

Category	No.of Applications received	% of Total	Total No.of Equity Shares Applied	% of Total	No. of Equrty Share Allotted per Bidder	Ratio	Total No.of Equity Share Allotted
224	155	11.96	34,720	0.01	16	1:31	80
240	69	5.32	16,560	0.01	16	2:69	32
256	36	2.78	9,216	0.00	16	1:36	16
272	13	1.00	3,536	0.00	16	1:13	16
288	23	1.77	6,624	0.00	16	1:23	16
304	13	1.00	3,952	0.00	16	1:13	16
320	53	4.09	16,960	0.01	16	2:53	32
336	28	2.16	9,408	0.00	16	1:28	16
352	6	0.46	2,112	0.00	16	1:6	16
368	8	0.62	2,944	0.00	16	1:8	16
384	4	0.31	1,536	0.00	16	1:4	16
400	25	1.93	10,000	0.00	16	2:25	32
416	13	1.00	5,408	0.00	16	1:13	16
432	18	1.39	7,776	0.00	16	1:18	16
448	18	1.39	8,064	0.00		1:18	16

C.Allotment to Eligible Employees

The Basis of allotment to the Eligible Employees, who have bid at the offer price less discount of Rs 86 per Equity Share amounting to Rs 810 per Equitty Share or above was finalized consultation with the BSE. This Category has been subscribed to the extent of 1.601 times. The total number of Equity Shares Allotted in this category is 24,691 Equity Shares to 173 successful applicants. The category-wise details of the Basis of Allotment are as under:

Category	No.of Applications received	% of Total	Total No. of Equity Shares Applied	% to Total	No. of Equity Shares Allotted per Bidder	Ratio	Total No. of Equity Shares Allotted
32	1	0.58	32	0.08	20	1:1	20
64	2	1.16	128	0.32	40	1:1	80
80	2	1.16	160	0.40	50	1:1	100
96	2	1.16	192	0.49	60	1:1	120
123	3	1.73	384	0.97	80	1:1	240
160	3	1.73	480	1.21	100	1:1	300
176	3	1.73	528	1.34	110	1:1	330
192	1	0.58	192	0.49	120	1:1	120
224	1	0.58	224	0.57	140	1:1	140
240	155	89.59	37,200	94.13	149	1:1	23,096
					1	146:155	146
Total	173	100.00	39,520	100.00			24,691

D. Allotment to QIBs excluding Anchor Investors

Allotmenl toQIBs, who have Bid at the Offer Price of Rs 896 per Equity Share or above, has been done on a proportionate basis in consultation with the BSE This category has been subscribed to the extent of 94.492 times of QIB portion. As per the Sebi Regulations, mutual funds were Allotted 5% of the Equity Shares of QIB Portion available i.e. 45,702 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were Allotted the remaning available Equity Shares i.e. 868,336 Equity Shares on a proportionate basis. The total number of Equity Shares Allotted in the QIB Portion is 914,038 Equity Shares, which were allotted to 107 Successful QIB Bidders. The catagory-wise details of the Basis of Allotment are as under:

Category	FIsJBanka	FlUFPIs	MFs	ICs	VCa	AIF	Total
QIB	266,862	359,377	149,128	80,432	33,814	24,425	914,033

E. Allotment to Anchor Investors

The Company, in consultation with the Selling Shareholders and the BRLMs, have allotted 1,371,053 Equily Shares to 15 Anchor Investors (through 23 Applications) at the Anchor Investor Offer Price of Rs 896 per Equity Share in accordance with the SEBI Reaulalians. This represents 66% of the Ql B Portion.

Category	FIs/Banks	FII/FPIs	MFs	ICs	VCs	AIF	Total
Anchor Investor	-	433,547	580,360	357,146	-	-	1,371,053

The IPO Committee of our Company at its meeting held on July 23, 2016 has taken on record the Basis of Allotmenl of Equity Shares approved by the Designated Stock Exchange, being BSE and has allottted the Equity Shares to various successful Bidders. The Allotment Advice-cum-intimations and/ or notices will be dispatched to the address of the investors as registered with the depositories. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. Further, the Instructions to the Self Certified Syndicate Banks for unblocking of funds transfer to Public Offer Account have been issued on July 28,2616. The Equity Shares Allotted to the successful Applicants have been uploaded on July 28, 20l6 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has received listing and trading approvals from NSE and BSE and the trading is expected to commence on August 1,2016.

All capitalised terms used and not specincally defined herein shall have the same meaning as ascribed to them in the Prosperous dated July 25, 2016 filed with the Regisirar of Companies, Mumbai, Maharashtra (the 'Prospectus')

INVESTORS PLEASE NOTE
The details of the allotment made will be hosted on the website of the Registrar to the Offer, Link Intime India Private Limited at www.linkintime.co.in

All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the first/ sole Bidder, Bid-curn-Applicalion Form number, Bidder DP ID, Client ID, PAN. date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares applied for, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and a copy of the Acknowledgment Slip received from the Designated Intermediary at the address given below.

Link intime India Private Limiled
C- 13, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West), Mumbai 400078
Tel: (+91 22) 6171 5400; Fax: (+91 22) 2596 0329
Email: aetl.ipo@linkintime.co.in , Investor Grievance E-mail: aetl.ipo@linkintime.co.in , Website: www.linkintime.co.in
Contact Person: Ms. Shanti Gopalkrishnan
SEBI Registration Number: INR000004058

Place: Thane Date: July 29,2016	For ADVANCED ENZYME TECHNOLOGIES LIMITED On behalf of the Board of Directors Sd/- Company Secretary and Compliance Officer

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF ADVANCED ENZYME TECHNOLOGIES LIMITED.

Advanced Enzyme IPO Basis of Allotment FAQs

The IPO allocation is based on the subscription level and the investor category.

Refer to IPO allotment rules and methods for more details.

See the basis of allotment document above to know how the shares are allocated in Advanced Enzyme IPO .

The Advanced Enzyme IPO basis of allotment (published above) tells you how shares are allocated to you in Advanced Enzyme IPO and category wise demand of IPO share.

Visit the Advanced Enzyme IPO allotment status page to check the number of shares allocated to your application.

In Advanced Enzyme IPO allotment process, the registrar separates valid and invalid applications. The invalid applications with technical errors are rejected and only valid applications at or above the cut-off price are considered for allotment.

For more information, please refer to IPO Allotment Process and Basis of Allotment.

Check the Advanced Enzyme IPO basis of allotment document to know how the shares are allocated in Advanced Enzyme IPO.

Advanced Enzyme IPO Basis of Allotment

Advanced Enzyme IPO Basis of Allotment FAQs

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