Circuit Systems IPO Basis of Allotment

CIRCUIT SYSTEMS (INDIA) LIMITED

(The Company was originally incorporated on 08th February 1995 as Circuit Systems (India) Limited at Gujarat, Dadra & Nagar Haveli vide Registration Number: 04-24524. Thereafter the company was converted into a Private Limited Company and consequently the name was changed to Circuit Systems (India) Private Limited on 01st August 2001 and thereafter the company was reconverted into public company and the name was changed to Circuit Systems (India) Limited vide fresh certificate of incorporation dated 07th October 2005.)

Registered Office & Corporate Office: B-24, GIDC Electronics Estate, Sector- 25, Gandhinagar 382 044, Gujarat, India.
(At the time of incorporation, the registered office of the company was situated at 167, Azad Society, Ambawadi, Ahmedabad-380015 which was then shifted to B-9-10, GIDC Electronic Estate, Sector-25, Gandhinagar -382044 w.e.f. 17th June 1996, and thereafter It was shifted to B-24, GIDC Electronic Estate, Sector-25, Gandhinagar w.e.f. 11th December 1997, and thereafter it was shifted to B-14, Neeldeep Apartment, Opp. Milan Park, B/h Lad Society, Vastrapur, Ahmedabad w.e.f. 15th March, 2001 and thereafter it was shifted to D - 402, Status Apartment, Thaltej Road, Nr Drive in, Thaltej, Ahmedabad w.e.f. 01st September, 2001 and thereafter w.e.f. 01st December, 2001 the registered office of the Company has been shifted to the present address)
Tel: 91-79-23242781/2/3 Fax: 91-79-23242784, E-mail: cs@mycsil.com; Website: www.mycsil.com

Contact person: Mr. Paras Mehta, Company Secretary and Compliance Officer

THE FACE VALUE OF THE EQUITY SHARES IS RS. 10/- PER EQUITY SHARE AND THE ISSUE PRICE OF RS. 35 PER EQUITY SHARE IS 3.5 TIMES OF THE FACE VALUE. THE NET ISSUE WOULD CONSTITUTE 25% OF THE FULLY DILUTED POST ISSUE PAID UP CAPITAL OF CIRCUIT SYSTEMS (INDIA) LIMITED.

The Board of Directors thanks the investing public for their overwhelming response to the Public Issue, which opened for subscription on September 27,2007 and closed on October 05,2007. The Company received 19227 gross applications for 1,71,58,200 equity shares of which valid applications were 18,774 for 1,67,44,000 equity shares. Of the total valid applications received, 18,736 applications were in Retail category for 1,45,47,200 equity shares and 38 applications were in the Non- Retail category for 21,96,800 equity shares.

The Public issue was subscribed 5.57 times in Retail category and 5.63 times in Non-Retail category. The Public Issue was subscribed overall 5.58 times.

In terms of the Prospectus and also as per the guidelines issued by SEBI, not less than 50% of the net offer to the Public shall be available for allotment to Retail Individual Investors and balance 50% of the net offer to the public shall be available for allotment to individual applicants other than Retail Individual Investors and other investors including Corporate Bodies / Institutions irrespective of number of shares applied for. However, out of the total subscription, 86.88% were applied by Retail investors and 13.12% were applied by Non-Retail investors. Hence, the Basis of Allotment was drawn in the proportion of the subscription, i.e. 87% was proposed to be allotted to Retail Investors and the balance, i.e. 13% to Non-Retail Investors in consultation with Bombay Stock Exchange Limited

As required under the Listing Agreement, the Basis of Allotment has been approved by the designated Stock Exchange i.e. Bombay Stock Exchange Ltd. on October26,2007.

The details of the valid applications received in the Issue from Retail Individual Investors, Non-Retail Investors and Promoter categories are as under (after technical rejections):

*Out of the total promoters contribution of 12,44,810 Equity shares, 100,000 and 4,00,000 number of Equity shares have already been allotted to promoters on February 14,2007and March 30,2007 as mentioned in the Prospectus

A. Allotment to Retail Investors

The Basis of Allotment to the Retail Investors, at the issue price of Rs.35/- per Equity Shares, was finalised in consultation with BSE on October 26,2007. The category was oversubscribed by 5.57 times. The total number of shares allotted in this category is 26,10,000 Equity Shares. The categorv-wise details of the Basis of Allotment are as under:

B. Allotment to Non-Retail investors

The Basis of Allotment for the Non-Retail Investors, who have applied at the issue price of Rs.35/- per Equity Shares for a total amount of more than Rs.1,00,000/-, was finalized in consultation with BSE on October 26..2007. The category was oversubscribed 5.63 times. The total number of shares allotted in this category is 3,90,000 Shares. The category-wise details of the Basis of Allotment are as under:

The Board or Directors or the Company, at its Meeting held on October 27, 2007 at the Registered Office of the Company has approved the basis of allotment of shares of the issue and has allotted the shares to various successful applicants.

Refunds have been made through RTGS, ECS and Direct credit into the Bank Accounts of the applicants or Refund orders as the case may be to their address with the Depositories. In case the same is not received within ten days, applicants may contact at the address given below. ECS Intimation Note and Refund Orders have been overprinted with the Bank Mandate details as registered, if any, with the Depositories. The Equity shares allotted to successful applicants have been credited to their beneficiary accounts. The company is taking steps to get the Equity Shares admitted for trading on Bombay Stock Exchange Limited within seven working days from the date of approval of the basis of allotment.

INVESTORS PLEASE NOTE:

These details of the allotment made have been hosted on the website of Registrars to the Issue, Cameo Corporate Services Ltd. at www.cameoindia.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 application, DPID and Client ID, number of shares applied for, Bank branch name where the application was submitted and payment details at the address given below.

Cameo Corporate Services Ltd, 'Subramanian Building', No.1, Club House Road, Chennai 600 002,
Phone : 044 2846 0390 /1989/ 0014, Fax : 044-2846 0129, Email: cameo@cameoindia.com or investor@cameoindia.com