Cochin Shipyard IPO Basis of Allotment

COCHIN SHIPYARD LIMITED

Our Company was incorporated as Cochin Shipyard Limited on March 29,1972 as a private limited company under the Companies Act, 1956, with the Registrar of Companies, Kerala at Ernakulam. Our Company became a deemed public limited company under section 43Aof Companies Act, 1956 on July 1,1982. Our Company again became a private limited company with effect from July 16,1985. Our Company became a public limited company with effect from November 8, 2016 and a fresh certificate of incorporation consequent upon conversion to public limited company was issued by the Registrar of Companies, Kerala at Ernakulam. For further details, including details of change in registered office of our Company, see 'History and Certain Corporate Matters'on page 147 of the Prospectus dated August4, 2017 ('Prospectus').

Registered Office: Administrative Building, Cochin Shipyard Premises, Perumanoor, Kochi - 682015 Kerala, India. Contact Person: Ms. V. Kala, Company Secretary and Compliance Officer;
Tel: +91 (484) 2501306; Fax: +91 (484) 2384001
E-mail: secretary@cochinshipyard.com; Website: www.cochinshipyard.com; Corporate Identity Number: U63032KL1972GOI002414

OUR PROMOTER: THE PRESIDENT OF INDIA ACTING THROUGH THE MINISTRY OF SHIPPING

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 33,984,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH ('EQUITY SHARES') OF COCHIN SHIPYARD LIMITED ('OUR COMPANY' OR 'ISSUER') FOR CASH AT A PRICE OF RS 432 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 422 PER EQUITY SHARE) AGGREGATING TO RS 14,420.06 MILLION ('ISSUE') CONSISTING OF A FRESH ISSUE OF 22,656,000 EQUITY SHARES AGGREGATING TO RS 9,613.37 MILLION ('FRESH ISSUE') AND AN OFFER FOR SALE OF 11,328,000 EQUITY SHARES BY THE PRESIDENT OF INDIA AGGREGATING TO RS 4,806.69 MILLION ('OFFER FOR SALE', AND 'THE SELLING SHAREHOLDER'). THE ISSUE INCLUDES A RESERVATION OF UP TO 824,000 EQUITY SHARES AGGREGATING TO RS 338.66 MILLION FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES ('EMPLOYEE RESERVATION PORTION'). THE ISSUE LESS EMPLOYEE RESERVATION PORTION IS REFERRED TO AS THE NET ISSUE. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 25.00% AND 24.39% RESPECTIVELY, OF THE POST ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.

*Retail Discount of Rs 21 per Equity Share to the Issue Price has been offered to the Retail Individual Bidders and Employee Discount of Rs 21 per Equity Share to the Issue Price has been offered to the Eligible Employees Bidding in the Employee Reservation Portion.

THE ISSUE PRICE : Rs 432 PER EQUITY SHARE OF FACE VALUE OF RS 10 EACH
THE ISSUE PRICE IS 43.2 TIMES THE FACE VALUE

BID/ISSUE OPENED ON AUGUST 1, 2017 | BID/ISSUE CLOSED ON AUGUST 3, 2017

In terms of Rule 19(2)(b)(iii) of the Securities Contracts (Regulation) Rules, 1957, as amended ('SCRR'), this was an Issue for at least 10% of the post-Issue paid-up Equity Share capital of our Company. In accordance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended ('SEBI ICDR Regulations'), the Issue was made through the Book Building Process wherein 50% of the Net Issue was made available for allocation on a proportionate basis to Qualified Institutional Buyers ('QIBs') ('QIB Portion'). 5% of the QIB Portion was made available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion was made available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, not less than 15% of the Net Issue was made available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue was made available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Issue Price. Further, 824,000 Equity Shares were reserved for allocation to Eligible Employees, subject to valid bids being received at or above the Issue Price. All potential Bidders were required to mandatorily participate in the Issue through an Application Supported by Blocked Amount ('ASBA') process by providing details of their respective bank account which will be blocked by the Self Certified Syndicate Banks ('SCSBs'). For details, see 'Issue Procedure' on page 420 of the Prospectus.

The Issue received 2,006,584 Applications for 2,576,918,550 Equity Shares resulting in 75.8274 times subscription. The details of the Applications received in the Issue from various categories are as under: (Before technical rejections)

Final Demand

A summary of the final demand as per the BSE and the 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 August9,2017.

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

The Basis of Allotment to the Retail Individual Investors, who have Bid at Cut-off Price or at the Issue Price of Rs 432 per Equity Share (Retail Discount of Rs 21 per Equity Share to the Issue Price has been offered to the Retail Individual Bidders) was finalized in consultation with BSE. The category has been subscribed to the extent of 7.8154 times. The total number of Equity Shares Allotted in this category is 11,843,076 Equity Shares (includes under subscribed portion of 237,076 Equity Shares spilled over from Employee Reservation Portion) to 394,769 successful applicants. The cateqory-wise details of the Basis of Allotment are as under:

B. Allotment to Non Institutional Investors (After Technical Rejections)

The Basis of Allotment to the Non-Institutional Investors, who have Bid at the Issue Price of Rs 432 per Equity Share, was finalized in consultation with the BSE. This category has been subscribed to the extent of 280.3906 times. The total number of Equity Shares Allotted in this category is 5,075,604 Equity Shares (includes under subscribed portion of 101,604 Equity Shares spilled over from the Employee Reservation Portion) to 1,647 successful applicants. The category-wise details of the Basis of Allotment are as under: (Sample)

C. Allotment to QIBs (After Technical Rejections)

The Basis of Allotment to QIBs who have Bid at the Issue Price of Rs 432 per Equity Share has been done on a proportionate basis in consultation with the BSE. This category has been subscribed to the extent of 62.2344 times of the QIB Portion. As per the SEBI ICDR Regulations, Mutual Funds were Allocated 5% of the Equity Shares of QIB Portion available i.e. 845,934 Equity Shares (includes under subscribed portion of 16,934 Equity Shares spilled over from the Employee Reservation Portion) and other QIBs, including Mutual Funds, were Allocated the remaining available 16,072,746 Equity Shares (includes under subscribed portion of 321,746 Equity Shares spilled over from Employee Category) on proportionate basis. The total number of Equity Shares allotted in this category is 16,918,680 Equity Shares, which were allotted to 291 successful Applicants. The category-wise details of the Basis of Allotment are as under:

D.AIIotmentto Eligible Employees (After Technical Rejections)

The Basis of Allotment to the Eligible Employees, who have Bid at the Issue Price of Rs 432 per Equity Share (Employee Discount of Rs 21 per Equity Share to the Issue Price has been offered to the Eligible Employees Bidding in the Employee Reservation Portion), was finalized in consultation with the BSE. This Employee Reservation Portion has been subscribed to the extent of 0.1780 times. The total number of Equity Shares Allotted in this category is 146,640 Equity Shares to 438 successful Eligible Employees. The under subscribed portion of 677,360 Equity Shares in the Employee Category has been spilled over to QIBs, Non Institutional Investors and Retail Individual Investors in the ratio of 50:15:35.

The category-wise details of the Basis of Allotment are as under (Sample):

The Share Allotment Committee of the Company at its meeting held on August 9,2017, has approved the Basis of Allotment of the Equity Share approved by the Designated Stock Exchange, being BSE and Allotted the Equity Shares to various successful Bidders.

The Allotment Advice-cum-Refund Intimations are being dispatched to the address of the investors as registered with the depositories. Further, instructions to the Self Certified Syndicate Banks for unblocking of funds and transfer to the Public Issue Account, as applicable have been issued on August 9, 2017 and payment instructions to non-Syndicate brokers have been issued on August 10, 2017. The Equity Shares Allotted to the successful Applicants have been credited on August 9, 2017 to their beneficiary accounts subject to validation of the account details with the depositories concerned. In case the unblocking of funds or credit of shares is not received within six working days, investors may contact the Registrar to the Issue at the address given below. The Company has filed the Listing application with BSE and NSE on August 10, 2017. The Company has received listing and trading approval from BSE and NSE and the trading will commence on August 11, 2017.

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

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 Bid Cum Application Form, Bidder DP ID, Client ID, PAN, Date of submission of Bid Cum Application Form, address of the Bidder, number of Equity Shares bid for, name and address of the Designated Intermediary where the Bid Cum Application Form was submitted by the Bidder and a copy of the Acknowledgement Slip received from the Intermediary at the address given below:

Link Intime India Private Limited
C101,247 Park, LBS Marg, Vikhroli West, Mumbai 400 083 Maharashtra, India. Tel: +91 (22) 4918 6200;
Fax: +91 (22) 4918 6195; Email: csl.ipo@linkintime.co.in; Investor grievance email: csl.ipo@linkintime.co.in;
Contact Person: Ms. Shanti Gopalkrishnan; Website: www.linkintime.co.in; SEBI Registration No: INR000004058