Euro Ceramics IPO Basis of Allotment

EURO CERAMICS LIMITED
(Our Company was Incorporated as a private limited company under the name 'Euro Ceramics Private Limited'
subsequently our company was converted into public limited company and our company name was changed to 'Euro Ceramics Limited' with effect from November 16,2004).
Regd Office: Boston House, Ground Floor, Suren Road Chakala, Andheri (W) Mumbai - 400 093, India.
Tel-:+91 -22- 4019 4019; Fax:-+91 -22-4019 4020;
Website: www.eurovitrified.com.Email: euroipo@eurovitrified.com

PUBLIC ISSUE OF 56,21,500 EQUFTY SHARES OF RS.10/-EACH FOR CASH ATAPRICE OFRS.165/- PER EQUITY SHARE AGGREGATING RS. 927.56 MILLIONS (REFERRED TO AS THE ISSUE'). THE ISSUE CONSISTS OF RESERVATION OF RESERVATION OF 1,21,500 EQUITY SHARES OF RS 10/- EACH AT ISSUE PRICE OF RS 165/- PER EQUITY SHARE AGGREGATING RS 20.05 MILLIONS FOR ELIGIBLE EMPLOYEE AND NET ISSUE TO PUBLIC OF 55,00,000 EQUITY SHARES OF FACE VALUE OF RS.10/- EACH AT A PRICE OF RS. 165/- AT A PREMIUM AGGREEGATING RS 907.50 MILLIONS (HEREIN AFTER REFERRED TO AS THE 'NET ISSUE TO THE PUBLIC') THE ISSUE WILL CONSTITUTE 32.87% OF THE FULLY DILUTED POST ISSUE CAPITAL OF THE COMPANY. THE FACE VALUE PER EQUITY SHARE IS RS.10/- EACH FOR CASH AT A PRICE OF RS.165/- EACH AND THE ISSUE PRICE IS 16.5 TIMES OF THE FACE VALUE.

The Issue made through the 100% Book Building Process wherein not more than 50% of the Issue to the public 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, not less than 15% of the Net Issue to the public shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue to the public 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 23602 applications for 16100105 equity shares resulting in 2.86 times subscription.

Final Demand
A sample of the final demand at different bid prices Is as under:

The Basis of Allotment for all the categories namely Employees, Retail Individual Investors, Non Institutional Investors and Qualified Institutional Buyers was approved by Bombay Stock Exchange Limited (Designated Stock Exchange) on February 26, 2007. The Board of Directors of the Company at its Meeting held at Mumbai on February 27, 2007 allotted the Equity Shares to the successful applicants. Details of valid applications received and allotments done are as under:

A. Allotment to Retail Investors
The Basis of Allotment to the Retail Investors, who have bid at cut-off or at and above the Issue Price of Rs.165/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 2.1616 times. The total number of shares allotted in this category is 2108815 Equity Shares (Including 30640 Shares spill over from Employee Category and 153175 shares spill over from HNI Category). The category-wise details of the Basis of Allotment are as under:

B. Allotment to Non Institutional Investors
The Basis of Allotment to the Non-institutional, who have bid at and above the Issue Price of Rs.165/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 0.8143 times. The total number of shares allotted in this category is 671825 Equity Shares (Un-Subscribed portion of 153175 shares was added to Retail Category). All the applicants in this category have been given firm allotment.

C. Allotment to Employees
The Basis of Allotment to the Employee, who have bid at and above the Issue Price of Rs.165/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 0.7478 times. The total number of shares allotted in this category is 90860 Equity Shares. The Un-subscribed Portion of 30640 Shares was added to the Retail Category. All the applicants in this category have been given firm allotment.

D. Allocation to QIBs
The total number of Equity Shares allotted in this category are 27,50,000 Equity Shares. All the applicants in this category have been given Firm Allotment on a PROPORTIONATE BASIS.

Refunds have been made through ECS, Direct credit, RTGS and NEFT, into the Bank Accounts of the applicants, as registered with the depositories, for applicants residing at any of the 15 centres specified by SEBI. For other applicants Refund Orders have been despatched to their address as registered 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 over-printed 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 and National Stock Exchange of India Limited within seven working days from the date of approval of the basis of allotment.

INVESTORS PLEASE NOTE
This details of the allotment 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,
L.B.S.Marg, Bhandup (West),
Mumbai- 400078, Fax: +91-22-25960329
Tel. No.: (91 22) 2596 0320 - 28
Email: euroip@intimespectrum.com  and www.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 EURO CERAMICS LIMITED