Aster Silicates IPO Basis of Allotment

ASTER SILICATES LIMITED

(Our Company was incorporated originally incorporated as Arbuda Steel Private Limited on August 27,1996 under the Companies Act, 1956 vide Certificate of Incorporation bearing registration number 04 - 30581 of 1996 - 1997 issued by the Registrar of Companies, Dadra and Nagar Haveli, Gujarat. The name of our Company was changed to Aster Silicates Private Limited vide fresh Certificate of Incorporation dated April 13,2006. Our Company was converted into a public limited company vide fresh Certificate of Incorporation dated December 4,2009 and consequently the name of our Company was changed to 'Aster Silicates Limited'. The Corporate Identification Number of our Company is U27609GJ1996PLC030581. For details of changes to our Registered Office, please refer to the chapter titled 'History and Other Corporate Matters' beginning on page 97 of the Prospectus).

Registered Office: A-602, Fairdeal House, Swastik Char Rasta, Off C G Road, Navrangpura, Ahmedabad - 380 009, Gujarat. Tel No: + 91 79 26422840; Fax No: + 91 79 26422840; Email: ipo@astersilicatesltd.com; Website: www.astersilicatesltd.com; Contact Person: Mr. Janak B. Patel, Company Secretary and Compliance Officer.

ISSUE PRICE: RS. 118/- PER EQUITY SHARE OF FACE VALUE OF RS. 10/- EACH
THE ISSUE PRICE IS 11.80 TIMES OF THE FACE VALUE

This Issue was made through a 100% Book Building Process wherein not more than 50% of the Issue will be allocated to Qualified Institutional Buyers (QIBs) on a proportionate basis, subject to valid bids being received at or above the Issue Price. 5% of the QIB Portion shall be available for allocation on proportionate basis to Mutual Funds only and the remaining Net QIB portion shall be available for allocation on a proportionate basis to all Qualified Institutional Buyers, including Mutual Funds, subject to valid bids being received at or above 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 16,480 applications for 2,10,68,250 equity shares resulting in 4.68 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)

* After considering the undersubscribed portion of QIB category which have been spilled over to Nil and Retail category in the ratio of 15:35 i.e. 6,75,000 shares and 15,75,000 shares respectively.

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 the Bombay Stock Exchange Limited ('BSE') on July 24,2010. The Board of Directors of the Company at its Meeting held at Mumbai, on July 24,2010, 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. 118/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 3.69 times. As per the Prospectus, the spill over portion from QIB Category was 15,75,000 equity shares. The total number of equity shares allotted in this category is 31,50,000 Equity Shares to 14,980 successful applicants. The category-wise details of the Basis of Allotment are as under:

* Due to rounding off, the proposed allotment is excess by 4,663 shares in 800 category, which has been adjusted by reducing 1 share in the above ratio.

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. 118/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 6.17 times.
As per the Prospectus, the spill over portion from QIB Category was 6,75,000 equity shares. The total number of equity shares allotted in this category is 13,50,000 to 79 successful applicants. All the applicants in this category have been given firm allotment on proportionate basis inverse to the oversubscription ratio.

C. Allotment to QIBs (After Technical Rejections)
There was no allotment to QIBs in this issue as no applications were received from QIBs. The spill over portion to the extent of 15,75,000 equity shares has been added to the Retail Category and 6,75,000 equity shares has been added to Non Institutional Investors.

Refunds have been made through ECS, Direct credit, RTGS and NEFT, 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 the Bombay Stock Exchange Limited and The National Stock Exchange of India Limited within four working days from the date of approval of the basis of allotment.

Note: All capitalized terms used and not defined herein shall have the respective meaning assigned to them in the Prospectus dated June 30,2010 ('Prospectus').

This details of the allotment made would be hosted on the website of Registrars to the Issue, Sharepro Services (India) Private Limited at www.shareproservices.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:

Sharepro Services (India) Private Limited
SEBI Registration No: INR000001476
13AB, Samhita Warehousing Complex, Sakinaka Telephone Exchange Lane, Off Andheri Kurla Road, Sakinaka, Mumbai 400 072. Tel No: +91 22 6772 0300/ 400; Fax No: +91 22 28591568; Email: aster.ipo@shareproservices.com: Contact Person: Mr. Subhash Dhingreja / Mr. Kumresan V