Austral IPO Basis of Allotment

AUSTRAL COKE & PROJECTS LIMITED

(Originally incorporated as 'NRE Stocknet Ltd.' as Public Limited Company at Kolkata, West Bengal, on April 22,1994 under the Companies Act, 1956. We changed the name of our company as 'NET Interactive Ltd' vide fresh certificate of incorporation dated on June 16, 1998 and subsequently renamed as 'Austral Coke & Projects Limited' vide fresh certificate of Incorporation dated September 14, 2005)

Registered Office: Diamond Chambers, 4, Chowringhee Lane, Block No. 2, 7th Floor, Unit No.-7-l, Kolkata-700016 Tel: +91-33-22521799; fax +91-33-2252 2134 (For changes In our Registered Office, see 'History and Corporate Structure' of Our Company on page 101 of the prospectus) Works: Survey No.352.353/1,353/2, Village- Lunva, Taluka Bhachau, Dist • Kutch, Gujarat.Tel: 02837 - 291201/223374

Corporate Office: Killedar Estate, Building No. 1,1st & 2nd Floor, Opp Jogeshwari MTNL office, S.V. Road, Jogeshwari (West), Mumbai - 400 102; Tel: +91-22-6724 0000, Fax: +91-22- 6724 0100 Website: www.australcoke.com; E-mail: ipo@australcoke.com Contact Person: Mr. Navin Choudhary - Company Secretary and Mr. Vivek Bharuka - Compliance Officer

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFERING OF 72,60,000 EQUITY SHARES OF RS. 10/- EACH AT A PRICE OF RS. 196 PER SHARE FOR CASH (INCLUDING SHARE PREMIUM OF RS. 186 PER SHARE) AGGREGATING RS. 14229.60 LACS (HEREINAFTER REFERRED TO AS THE ISSUE) THE ISSUE SHALL CONSTITUTE 25.00% OF THE FULLY DILUTED POST ISSUE CAPITAL OF OUR COMPANY.

THE FACE VALUE PER EQUITY SHARE IS RS.10/-. THE ISSUE PRICE PER EQUITY SHARE IS RS. 196/- AND IT IS 19.6 TIMES THE FACE VALUE.

The Issue made through the 100% Book Building Process wherein upto 50% of the net Issue was to be allocated on a proportionate basis to Qualified Institutional Buyers ('QIBs') (including 5% of the QIB portion that was to specifically be allotted to mutual funds), further, up to 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 Bidders, subject to valid bids being received at or above the Issue Price.

The Issue received 7099 valid applications for 77,14,294 equity shares resulting In 1.06 times subscription. The details of the valid applications received In the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Individual Investors are as under:

THE COMPANY, VIDE ITS BOARD RESOLUTION DATED AUGUST 22, 2008, IN CONSULTATION WITH BRLMs, HAS DECIDED NOT TO EXERCISE THE GREEN SHOE OPTION.

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 25^th August, 2008.

A. Allocation to Retail Individual Investors (After Technical Rejection)

The Basis of Allocation to Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 196/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 0.543826 times. The total number of shares allotted in this category to 7,069 applicants is 1381862 equity sharas. The Unsubscribed portion (1159138 Equity shares) is spilled over to Non Institutional Investors category. The category-wise details of Basis of Allocation are as under:

B. Allocation to Non Institutional Investors (After Technical Rejection)

The Basis of Allocation to Non-Institutional Investors, who have bid at the Issue Price of Rs. 196/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 1.125613 times. The total number of Equity Shares allotted in this category is 3616628 Equity Shares to 28 successful applicants Including Spill over from QIB Category (1368490 Equity Shares) and Retail Category (1159138). The category-wise details of Basis of Allocation are as under:

C. Allocation to QIBs

Allocation to QIBs has been done on a proportionate basis In consultation with BSE. The category was subscribed 0.6230 times. As per the SEBI guidelines, QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares 2261510 to 2 successful applicants on proportionate basis. The Unsubscribed portion (1368490 Equity shares) is spilled over to Non Institutional Investors category.

The Board of Directors of the company at it's Meeting held at Corporate Office, Mumbai on August 26, 2008 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 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 National Stock Exchange of India Limited and Bombay Stock Exchange Limited within seven working days from the date of approval of the basis of allocation.

This details of the allocation made would be hosted on the website of Registrars to the Issue, Intime Spectrum Registry Limited at www.intimespectrum.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:

INTIME SPECTRUM REGISTRY LIMITED
C-13, Pannalal Silk Mills Compound, LBS Marg, Bhandup West, Mumbai - 400 078.
Tel: 91 22 2596 0320, Fax: 91 22 2596 0329, Email: @intimespectrum.com

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 AUSTRAL COKE & PROJECTS LIMITED.