Astec IPO Basis of Allotment

ASTEC LIFESCIENCES LIMITED

We were originally incorporated under the Companies Act, 1956 as UrshHa Traders Private Limited on January 25,1994 and registered with the Registrar of Companies, Maharashtra. The name of our Company was changed to Astec Chemicals Private Limited with effect from August 19,1994. The name of our Company was further changed to Astec LifeSciences Private Limited w.e.f. March 3,2006. Pursuant to our Company being converted into a Public Limited Company, the word "Private' was deleted from the name of our Company by the RoC on April 27,2006.
Registered & Corporate Office: 5-5A, 4* floor, Kamanwala Chambers, Sir P. M. Road, Fort, Mumbai-400001 Tel No.: +91-22-2261 8212-13, Fax No: +91-22-2261 8289; Website: www.astecls.com; Email: ipo@astecls.com Contact Person: Ms. Nikita Jain, Company Secretary & Compliance officer, Email: nikita@astecls.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 75,00,000 EQUITY SHARES OF RS 10/- EACH FOR CASH AT A PRICE OF RS. 82 PER EQUITY SHARE, AGGREGATING RS 6150 LAKHS (THE "ISSUE"). THE ISSUE COMPRISES A RESERVATION OF 1,00,000 EQUITY SHARES OF RS. 10/- EACH AGGREGATING RS. 82 LAKHS FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (THE "EMPLOYEE RESERVATION PORTION") AT THE ISSUE PRICE, AND NET ISSUE OF 74,00,000 EQUITY SHARES OF RS. 10/- EACH AGGREGATING RS. 6088 LAKHS. THE ISSUE CONSTITUTES 44.30% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF OUR COMPANY.

THE FACE VALUE PER EQUITY SHARE IS RS.10/-.
THE ISSUE.PfflCE PER EQUITY SHARE IS RS.82/-AND IT IS 8.2 TIMES THE FACE VALUE.
This Issue was being made through a 100% Book Building Process wherein not more than 50% of the Net Issue to Public shall be available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs"). 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only and the remainder shall be available for allotment on a proportionate basis to QIBs and Mutual Funds, subject to valid bids being received from them at or above the Issue Price. Further, not less than 15% of the Net Issue to Public shall be available for allocation on a proportionate basis to Non Institutional Bidders and not less than 35% of the Net Issue to Public 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 7,097 applications for 92,41,150 equity shares after cheque returns but before technical rejection resulting in 1.2322 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional, Retail Individual Investor and Employee categories are as under:

(Before technical rejections)

Final Demand
A sample of the final demand at different bid prices is as under:

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited ("BSE") on November 17,2009. The details of valid application received and allotment done are as under:

A. Allocation to Employees (After Technical Rejections)

The Basis of Allocation to the Employees, who have bid at cut-off or at the Issue Price of Rs. 82/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 0.36 times. The total number of shares allotted in this category is 35,700 Equity Shares to 28 successful applicants. Further, due to under subscription, full and firm allotment has been made in this category and the balance under-subscribed portion to the extent of 64,300 equity shares has been spilled over to the QIB, Non Institutional and Retail Individual Investor categories. The category-wise details of the Basis of Allocation (Sample) are as under:

B. Allocation to Retail Individual Investors (Including ASBA Applications) (After Technical Rejections)

The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs 82/- per Equity Share was finalized in sonsultation with BSE..The category was subscribed 1.894 times. the spill over portion from Employee category of 22,665 Equity shares of QIB category of 10,99,783, equity shares and Non-institutional Investors category of 6.51 482 equitv shares have been added to the category .the total number of shares alloted to this category is 42,03,900^(160 excess shares were alloted on this category for Rounding Off.) Equrty Shares to 6,593 successful applicants. The category-wise details of the Basis of Allocation are asi under

C. Allocation to Non Institutional Investors (After Technical Rejections)

The Basis of Allocation to the Non Institutional Investors, who have bid at the Issue Price of Rs. 82/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 0.647 times. Further, due to under subscription, full and firm allotment has been made in this category. The spill over portion from Employee Category to the extent of 9,645 equity shares and from QIB category to the extent of 4,45,612 equity shares have been added to the Non Institutional Investors category. The total number of shares allotted in this category is 10,13,775 Equity Shares to 11 successful applicants. The category-wise details of the Basis of Allocation (samDle) are as under:

D. Allocation to QIBs

Allocation to QIBs has been done in consultation with BSE. The category was subscribed 0.60 times. Further, due to under subscription, full and firm allotment has been made in this category and the balance undersubscribed portion in the QIB category to the extent of 14,85,375 equity shares (including the spill over portion from Employee Category to the extent of 32,150 equity shares) have been added to the Retail and Non Institutional category. The total number of shares allotted in this category is 22,46,775 Equity Shares to 9 successful applicants. The category-wise details of the Basis of Allocation (sample) are as under:

The Board of Directors of the company at its Meeting held at Mumbai on November 18,2009 has approved the basis of allocation of shares of the Issue and has allotted the shares to various successful applicants.

The CAN-cum-Refund Orders and allotment advice and notices have been 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 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 have been 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 Bombay Stock Exchange Limited and National Stock Exchange of India Limited within seven working days from the date of approval of the basis of allocation i.e. on or before November 26, 2009.
INVESTORS PLEASE NOTE

These details of the allocation made would be hosted on the website of Registrar to the Issue, Blgshare Services Private Limited at http://www.blgshareonllne.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 trie 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 EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF ASTEC LIFESCIENCES LIMITED.