Anupam Rasayan IPO Basis of Allotment

This is a public announcement for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe to securities. This public announcement is not intended for release, publication or distribution, directly or indirectly, outside India and is not a prospectus announcement.

Our Company was initially formed as a partnership firm as "Anupam Rasayan" with effect from April 1,1984 at Surat, Gujarat, India. The firm converted into a joint stock company and was registered as a public limited company under the Companies Act 1956 under the name of "Anupam Rasayan India Limited' with a certificate of incorporation dated September 30, 2003, issued by the Registrar of Companies, Gujarat, Dadra and Nagar Haveli. We received our certificate of commencement of business, issued by the Assistant Registrar of Companies, Gujarat, on November 20, 2003. For further details, see "History and Certain Corporate Matters" on page 160 of the Prospectus dated March 17, 2021 (the 'Prospectus').

Our Company has filed the Prospectus dated March 17, 2021 with the RoC, and the Equity Shares are proposed to be listed on the National Stock Exchange of India Limited ("NSE") and BSE Limited ("BSE") and trading is expected to commence on or about March 24, 2021.

INITIAL PUBLIC OFFERING OF 13,715,495 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH ("EQUITY SHARES") OF ANUPAM RASAYAN INDIA LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 555 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 545 PER EQUITY SHARE) (THE "ISSUE PRICE") AGGREGATING TO RS. 7,600.00 MILLION (THE "ISSUE"). THIS ISSUE INCLUDED A RESERVATION OF 220,000 EQUITY SHARES AGGREGATING TO RS. 110.00 MILLION (CONSTITUTING 0.22% OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY) FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (THE "EMPLOYEE RESERVATION PORTION"). THE ISSUE LESS THE EMPLOYEE RESERVATION PORTION IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE CONSTITUTE 13.73% AND 13.51%, RESPECTIVELY, OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.

OUR COMPANY IN CONSULTATION WITH THE BOOK RUNNING LEAD MANAGERS ("BRLMs"), HAS OFFERED A DISCOUNT OF 9.91% OF THE ISSUE PRICE TO ELIGIBLE EMPLOYEES BIDDING IN THE EMPLOYEE RESERVATION PORTION ("EMPLOYEE DISCOUNT).

The Issue was made in terms of Rule 19(2) (b) of the Securities Contracts (Regulation) Rules, 1957, as amended, (the "SCRR") read with Regulation 31 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended ('SEBI ICDR Regulations'). The Issue was made through the Book Building Process, in compliance with Regulation 6(1) of the SEBI ICDR Regulations, where not more than 50% of the Net Issue shall be available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs") (the "QIB Category"). Our Company in consultation with the BRLMs. has allocated up to 60% of the QIB Category to Anchor Investors, on a discretionary basis (the 'Anchor Investor Portion'), of which one-third was reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the price at which Equity Shares were allocated to Anchor Investors. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares was required to be added to the QIB Category (other than Anchor Investor Portion). Further, 5% of the QIB Category (excluding the Anchor Investor Portion) was made available for allocation on a proportionate basis to Mutual Funds only and the remainder of the QIB Category shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, not less than 15% of the Net Issue shall be available for allocation on a proportionate basis to Non-Institutional Investors ('NIIs') and not less than 35% of the Net Issue was made available for allocation to Retail Individual Investors ('RIIs'), in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Issue Price. Further, Equity Shares were required to be allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Issue Price. All Bidders (other than Anchor Investors) were mandatory required to participate in this Issue through the Application Supported by Block Amount ("ASBA") process, and were required to provide details of their respective bank account (including UPI ID for Retail Individual Investors using UPI Mechanism) in which the Bid Amount was blocked by the SCSBs or the Sponsor Bank, as the case may be. Anchor Investors were not permitted to participate in the Issue through the ASBA process. For details, specific attention is invited to "Issue Procedure" on page 314 of the Prospectus.

The Issue received 1,479,595 applications for 426,433,869 Equity Shares resulting in 31.0914 times subscription. The details of the applications received in the Issue from Retail Individual Investors, Non-Institutional Investors, QIBs, Eligible Employee and Anchor Investors are as under (before technical rejections):

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:

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE on March 19, 2021

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

The Basis of Allotment to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 555 per Equity, was finalized in consultation with BSE. This category has been subscribed to the extent of 9.4238 times. The total number of Equity Shares Allotted in Retail Individual Bidders category is 4,723,424 Equity Shares to 174,941 successful applicants. The category-wise details of the Basis of Allotment are as under

Please Note: 1 additional Share shall be allotted to 17 Allottees from amongst 8.835 Successful Applicants from the categories 54-351 (i e. excluding successful applicants from Category 27) in the ratio of 17:8835

B. Allotment to Non-Institutional Investors (After Technical Rejections) (including ASBA Applications)

The Basis of Allotment to the Non-Institutional Investors, who have bid at the Issue Price of Rs. 555 per Equity Share or above, was finalized in consultation with BSE. This category has been subscribed to the extent of 97.7000 times. The total number of Equity Shares allotted in this category is 2,024,325 Equity Shares to 909 successful applicants. The category-wise details of the Basis of Allotment are as under: (Sample)

C. Allotment to Eligible Employees (After Technical Rejections)

The Basis of Allotment to the Eligible Employees, who have placed bid at the Cut-Off price or at the Issue Price of Rs. 500 was finalized m consultation with BSE. The Eligible Employees Portion has been subscribed to the extent of 1.1702 times. The total number of Equity Shares Allotted in this category is 220,000 Equity Shares to 463 successful Allottees. Allotment under the Eligible Employee Category have been split in 2 categories (i) applications upto 2 Lakhs (ii) applications above 2 Lakhs and up to 5 Lakhs.

The category-wise details of the Basis of Allotment for Employee up to 2 Lakhs are as under:

The category-wise details of the Basis of Allotment for Employee above Rs. 2 Lakhs and up to Rs. 5 Lakhs are as under:

D. Allotment to QIBs (After Technical Rejections)

Allotment to QIBs, who have bid at the Issue Price of Rs. 555 per Equity Share or above, has been done on a proportionate basis in consultation with BSE. This category has been subscribed to the extent of 65.9746 times. As per the SEBI Regulations, Mutual Funds were allotted 5% of the Equity Shares of Net QIB portion available i.e. 134,955 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were allotted the remaining available Equity Shares i.e. 2,564,144 Equity Shares on a proportionate basis. The total number of Equity Shares allotted in the QIB category is 2,699,099 Equity Shares, which were allotted to 95 successful Applicants

E. Allotment to Anchor Investors (After Technical Rejections)

The Company in consultation with the BRIMs, have allocated 4,048,647 Equity Shares to 18 Anchor Investors through 15 Applications (including 2 domestic Mutual Funds through 5 schemes) at the Anchor Investor Issue Price of Rs. 555 per Equity Share in accordance with the SEBI Regulations. This represents 60% of the QIB Portion.

The Board of our Directors of our Company at its meeting held on March 22, 2021 has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has allotted the Equity Shares to various successful applicants. The Allotment Advice Cum Refund Intimation has been dispatched to the address of the investors as registered with the depositories on March 22, 2021. Further, instructions to the SCSBs have been issued for unblocking of funds and transfer to the Public Issue Account on March 19, 2021 and the payments to non-syndicate brokers have been issued on March 22, 2021. In case the same is not received within ten days, investors may contact the Registrar to the Issue at the address given below. The Equity Shares allotted to the successful allottees have been uploaded on March 22, 2021 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the listing applications with the Stock Exchanges on March 22, 2021, and listing and trading are expected to commence on or about March 24, 2021.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.

INVESTORS PLEASE NOTE

These details of the Allotment made shall be hosted on the website of Registrar to the Issue, KFin Technologies Private Limited at www.kfintech.com

All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/ Sole applicant. Serial number of the ASBA form, number of Equity Shares bid for, name of the Member of the Syndicate, place where the bid was submitted and payment details at the address given below:

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITYSHARES ON LISTING OR THE BUSINESS PROSPECTS OF ANUPAM RASAYAN INDIA LIMITED.

ANUPAM RASAYAN INDIA LIMITED is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public issue of its equity shares ('Equity Shares') and has filed a Prospectus with the RoC and thereafter with SEBI and the Stock Exchanges. The Prospectus is available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers. Axis Capital Limited, Ambit Private Limited. IIFL Securities Limited and JM Financial Limited at www.axiscapital.co.in , www.ambit.co, www.iiflcap.com and www.jmfl.com, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risks, see "Risk Factors" on page 27 of the Prospectus.

The Equity Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any other applicable law of the United States and. unless so registered, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to. the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, the Equity Shares are being offered and sold (a) in the United States only to persons reasonably believed to be "qualified institutional buyers" (as defined in Rule 144A under the U.S. Securities Act and referred to in this Red Herring Prospectus as "U.S. QIBs") in transactions exempt from the registration requirements of the U.S Securities Act and (b) outside the United States in compliance with Regulation S and the applicable laws of the jurisdiction where those offers and sales are made. There will be no public offering in the United States.