Edelweiss IPO Basis of Allotment

Edelweiss

Ideas create, values protect

Registered and Corporate Office: 14th Floor, Express Towers, Nariman Point, Mumbai 400 021, Maharashtra, India. Telephone No: +91 22 2286 4400; Fax No: + 91 22 2286 4278; Email: ecl.ipo@edelcap.com
Contact Person: Ms. Shilpa Soti; Website: www.edelcap.com

THE FACE VALUE OF EQUITY SHARE IS RS. 5/- EACH. THE ISSUE PRICE OF RS 825/- EACH IS 165 TIMES OF THE FACE VALUE

The Book Running Lead Managers are Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, and Lehman Brothers Securities Private Limited, the Equity Shares of the Company are proposed to be listed on The Bombay Stock Exchange Limited ("BSE") and the National Stock Exchange of India Limited ("NSE") and trading is expected to start on or around December 12, 2007.

In terms of Rule 19{2)(b) of the Securities Contract Regulation Rules, 1957 this being an Issue for less than 25% of the post-Issue capital, the Issue is being made through the 100% Book Building Process wherein at least 60% of the Net Issue shall be allocated on a proportionate basis to QIB Bidders, out of which 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above Issue price. If atleast 60% of the Net Issue cannot be Allocated to QIB Bidders, then the entire application money will be refunded forthwith. Further, not less than 10% of the Net Issue shall be available, for allocation on a proportionate basis to Non-Institutional Bidders and not less than 30% of the Net 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. Further, up to 204,540 Equity Shares shall be available for allocation on a proportionate basis to the Employees, subject to valid Bids being received at or above the Issue Price.

The issue received 4,62,370 applications for 92,47,75,360 Equity Shares resulting in 110.2742 times subscription. The details of the applications received in the Issue from QIBs, Non Institutional Bidders, Retail individual Bidders and Eligible Employees (Before technical rejections) are as under:

Final Demand

A summary of the final demand at various bid price levels as per the electronic book is given below:

The Basis of allocation was finalized in consultation with the National Stock Exchange of India Limited ("NSE") on December 3, 2007. The IPO Committee of Directors of the Company at its meeting held on December 4, 2007 approved the Basis of allocation of Equity Shares in the Issue and has allotted Equity Shares to various successful applicants. The final demand at different bid prices and allocation of Equity Shares in various categories are as follows:

A) Allocation to Non Institutional Bidders:

This category (net of technical rejections) was subscribed 157.277520 times. The total number of Equity Shares Allotted in this category is 8,18,154 Equity Shares to 1078 successful applicants. The category wise details of the Basis of allocation in this category are as under (Sample):

B) Allocation to Retail Individual Bidders:

This category (net of technical rejections) was subscribed 16.694374 times. The total number of Equity Shares Allotted In this category is 2,454,488 Equity Shares to 306811 successful applicants. The category wise details of the Basis of allocation in this category are as under:

C) Allocation to Eligible Employees

This category (net of technical rejections) was subscribed 10.027222 times. The total number of Equity Shares Allotted in this category is 20,45,40 Equity Shares to 773 successful applicants. The category wise details of the Basis of allocation in this category are as under (Sample):

D) Allocation to Qualified Institutional Buyers:

The CAN/Refund Orders, intimation regarding refund through electronic mode (ECS, RTGS, NEFT or direct credit) and Allotment advice and notices due to applicants have been dispatched to the address of the investors as registered with the depositories on December 5, 2007. 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, Equity Shares allotted to successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned on December 5, 2007. The listing applications have been filed with the BSE and NSE on December 5, 2007 and the Company is taking steps to get the Equity Shares admitted for trading on the BSE and NSE within seven working days from the date of approval of the Basis of allocation.

Investors Please Note:

The details of allocation made would be hosted on the website of the Registrar to the Issue, Intime Spectrum Registry Limited at www.lntimespectrum.com

Further correspondence in respect of allotment of Equity Shares pertaining to the Issue may be addressed to the Registrar to the issue, Intime Spectrum Registry Limited, 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:

Intime Spectrum Registry Ltd.,
C-13, Pannalal Silk Mills Compound,
L.B.S. Road, Bhandup West,
Mumbai - 400 078.
Tel.: (022) 2596 0320 Fax: (022) 2596 0329
E-mail: rjlipoipo@intimespectrum.com
Contact Person: Mr. Sachin Achar

For Edelweiss Capital Limited
On Behalf of the Board of Directors
Sd/-
Authorized Signatory

Place : Mumbai
Date : December 7, 2007