Cox and Kings IPO Basis of Allotment

Cox And Kings (India) Limited

(Our Company was incorporated as 'Eastern Carrying Company Limited' on June 7,1939 under the Indian Companies Act, VII of 1913. The name was subsequently changed to 'Cox and Kings (India) Limited' and the consequent fresh Certificate of Incorporation was granted on February 23,1950. Subsequently, after amendment of Section 43A of the Companies Act 1956, the word "Private" was added to the name of our Company on October 12,2001. Pursuant to a special resolution of our shareholders, our Company became a public limited company and a fresh Certificate of Incorporation with the current name was issued on March 28, 2007 by the Registrar of Companies, Maharashtra at Mumbai) Registered & Corporate Office: Turner Morrison Building, 1st Floor, 16 Bank Street, Fort, Mumbai-400001, Maharashtra, India Tel +91-22-2270 9100, Fax +91-22-2270 4600 For details of changes in name and Registered Office, please refer the chapter titled 'History and Other Corporate Matters' beginning on page 104 of the Prospectus Contact Person: Ms. Rashmi Jain, Company Secretary & Compliance Officer; Tel +91-22-22709100; Fax +91-22-22709161, Email: ipo@coxandkmgs.com; Website www.coxandkings.com.

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 18,496,640* EQUITY SHARES OF RS. 10/- EACH OF COX AND KINGS (INDIA) LIMITED (THE "COMPANY' OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 330 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 320 PER EQUITY SHARE), CONSISTING OF A FRESH ISSUE OF 15,450,000 EQUITY SHARES BY THE COMPANY AND AN OFFER FOR SALE OF 3,046,640 EQUITY SHARES BY LEHMAN BROTHERS OPPORTUNITY LIMITED, DEUTSCHE SECURITIES MAURITIUS LIMITED AND MERRILL LYNCH CAPITAL MARKETS ESPANA, S.A., S.V. (THE "SELLING SHAREHOLDERS"), AGGREGATING TO RS. 6103.89 MILLION (THE "ISSUE"). THE ISSUE COMPRISES OF A NET ISSUE TO THE PUBLIC OF 18,296,640 EQUITY SHARES OF RS. 10/- EACH (THE "NET ISSUE") AND A RESERVATION OF UP TO 200,000 EQUITY SHARES OF RS. 10/- EACH FOR THE ELIGIBLE EMPLOYEES (AS DEFINED IN THE PROSPECTUS) ON A COMPETITIVE BASIS (THE "EMPLOYEE RESERVATION PORTION"). THE ISSUE WOULD CONSTITUTE 29.40% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY. THE NET ISSUE WILL CONSTITUTE 29.08% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY.

* Our Company has allocated 2,744,480 Equity Shares to Anchor Investors at Rs. 330 per Equity Share.

BID/ISSUE OPENED ON NOVEMBER 18, 2009 • CLOSED ON NOVEMBER 20, 2009

The Equity Share of the Company are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and National Stock Exchange of India Limited (NSE) and trading is expected to commence on or about December 11, 2009.

THE FACE VALUE PER EQUITY SHARE IS RS. 10/-. THE ISSUE PRICE PER EQUITY SHARE IS RS. 330/- AND IT IS 33.0 TIMES THE FACE VALUE. THE ANCHOR INVESTOR ISSUE PRICE IS RS. 330/- PER EQUITY SHARE.

The Issue was made through a 100% Book Building Process wherein up to 50% of the Net Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers. Our Company has allocated 2,744,480 Equity Shares to Anchor Investors (as defined in the section "Definitions and Abbreviations" on page (i) of the Prospectus) in accordance with applicable SEBI Regulations. Further 5% of QIB Portion less Anchor Investor Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remaining 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 Net Issue shall be available for allocation on proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders subject to valid Bids being received from them at or above the Issue Price. Further, up to 200,000 Equity Shares shall be available for allocation on a proportionate basis to the Eligible Employees, subject to valid bids being received from them at or above the Issue Price. The Issue received 49,867 applications for 104,288,280 equity shares resulting in 5.64 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional, Retail Individual Investors categories and Employees 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 bids is as detailed hereunder:

The Basis of Allocation was finalized in consultation with the Designated Stock Exchange, being the Bombay Stock Exchange Limited ("BSE") on December 02, 2009.

A. Employees

The Basis of Allocation to the employees of the Cox and Kings (India) Ltd, who have bid at cut-off or at the Issue Price of Rs. 330/- per Equity Share, was finalized in consultation with BSE. The total number of shares allotted in this category is 28,160.

B. Allocation to Retail Individual Investors [Including Applications Supported by Blocked Amount ("ASBA")] (After Technical Rejections)

The Basis of Allocation to the Retail Individual Bidders, who have bid at cut-off or at the Issue Price of Rs. 330/- per Equity Share, was finalized in consultation with BSE. This category has been oversubscribed to the extent of 0.90 times. 9,419 applications for 1,232,820 Equity Shares were made under the ASBA process. Of these 9,334 applications for 1,224,620 Equity Shares were found valid and they were considered for allotment. The total number of Equity Shares allotted in Retail Individual Bidders category is 5,863,660 Equity Shares to 48,130 applicants. The category-wise details of the Basis of Allocation are as under:

C. Allocation to Non-institutional Investors (After Technical Rejections)

The Basis of Allocation to the Non-Institutional Investors, who have bid at cut-off or at the Issue Price of Rs. 330/- per Equity Share, was finalized in consultation with BSE. This category has been oversubscribed to the extent of 10.04 times. 199 applications for 29,208,880 Equity Shares were found valid and they were considered for allotment. The total number of Equity Shares allotted in this category is 2,908,805 (including unsubscribed portion of 138,533 Equity Shares being 2.2% of the Retail Individual Investor category and unsubscribed portion of 25,776 equity shares being 12.9% of the Employee Category) to 199 successful applicants. The category-wise details of the Basis of Allocation (sample) are as under:

D. Allocation to QIBs (excluding Anchor Investor Portion)

Allocation to QIBs has been done on a proportionate basis in consultation with BSE. 547,695 equity shares including unsubscribed portion of 461,775 equity shares been 7.2% of the Retail Individual Investor category and unsubscribed portion of 85,920 equity shares been 43.0% of the Employee Category were added to the QIB category. In accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, Mutual Funds were initially allotted 5% of the QIB Portion (excluding Anchor Investor Portion) i.e. 347,577 Equity Shares and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares i.e. 6,603,958.

E. Anchor Investors

The Company allocated 2,744,480 Equity Shares to 9 Anchor Investors in consultation with the Book Running Lead Manager. This represents 30% of the portion earmarked for allotment to Qualified Institutional Investors.

The IPO Committee of the Board of Directors of the Company at its Meeting held on 3rd December, 2009 has approved the basis of allocation of Equity Shares of the Issue and has accordingly allotted the Equity Shares to various successful applicants. The CAN-cum-Refund Orders and allotment advice and / or notices have been dispatched to the address of the Bidders as registered with the depositories on or prior to 05.12.2009. Further, the instructions to Self Certified Syndicate Banks have been dispatched on or prior to 05.12.2009. In case the same is not received within 10 days, investors may contact at the address given below. The Refund Orders have been overprinted with the Bank Account details as registered, if any, with the depositories. The Equity Shares allocated to successful applicants are credited to their beneficiary accounts. The Company is taking steps to get the Equity Shares admitted for trading on the 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. Listing application have been filed with the NSE and BSE on December 4, 2009.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the prospectus dated November 27, 2009 ("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, number of Equity Shares bid for, name of the Member of the Syndicate, place where the bid was submitted and payment details at the address given below:

Karvy Computershare Private Limited
Unit: COX AND KINGS (INDIA) LIMITED
Plot No. 17 to 24, Vithalrao Nagar, Hitech City Road,
Madhapur, Hyderabad - 500081.
Fax: 040-23420814 Email:einward.ris@karvy.com

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