Excel Infoways IPO Basis of Allotment

Excel Infoways Limited

(The Company was originally incorporated as Excel Infoways Private Limited on 7th January, 2003 by Registrar of Companies, Maharashtra, Mumbai vide Registration No.138568, The Company subsequently became a public limited Company and the name of the Company was changed to Excel Infoways Limited and the fresh certificate of incorporation was granted to the Company on 9th August, 2006. CIN No of the Company is U72900MH2003PLC138568).

Registered Office: 31 -A, Laxmi Industrial Estate, New Link Road, Andheri (West), Mumbai - 400 053.
Tel: +91-22-40309898, Fax: +91-22-26394248, Email: ipo@excel-infoways.com, Website: www.excel-infoways.com Contact Person: Ms. Bhavana D Shah, Company Secretary & Compliance Officer

BASIS OF ALLOCATION

The Issue was made through the 100% Book Building process wherein upto 50% of the issue to the public was to be allocated on a proportionate basis to Qualified Institutional Buyers, out of which 5% of the QIB portion was available for allocation on a propotionate basis to Mutual Funds only, and the remainder of the QIB Portion was 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, at least 15% of the Issue to the public was available for allocation on a proportionate basis to Non-instilutional Bidders and at least 35% of the Issue to the public was available for allocation on a proportionate basis to Retail individual Bidders, subject to valid Bids being received at or above the Issue Price.

The issue received 6,897 applications for 1,04,09,920 shares resulting in 1.8369 times subscription. The delails of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Individual investor categories are as under: (Before technical rejections)

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

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited ("BSE") on 28th July, 2009.

A. Allocation to Retail Individual Investors including ASBA Applicants(After Technical Rejections)
The Basis of Allocation to Retail Individual investors, who have bid at cut-off or at the Issue Price of Rs. 85 per Share, was finalized in consultation with BSE. The category was over subscribed 1.645898 times. The total number of shares allotted in this category is 29,95,939 to 6,253 successful applicants including spill over from QIB Category (10,12,410 Shares) The category-wise details of Basis of Allocation are as under:

B. Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to Non-institutional investors, who have bid at the Issue Price of Rs. 85 per Share, was finalized in consultation with BSE. The category was over subscribed 3.171052 times. The total number of Shares allotted in this category is 12,83,940 Shares to 89 successful applicants including spill over from QIB Category (4,33,890 Shares). The category-wise details of Basis of Allocation (Sample) are as under:

C. Allocation to QIBs
Allocation to QIBs has been done on a proportionate basis in consultation with BSE. As per the SEBI (Dip) Guidelines, Mutual Funds were offered 5% of QIB portion, however there was no application from Mutual Fund. The Unsubscribed portion of QIB category, i.e. 14,46,300 shares is spilled over to Retail category (10,12,410shares)and Non Institutional Investors (4,33,890 shares) in the ratio of 70:30.

The Board of Directors of the company at its Meeting held at Mumbai on 28th July 2009 has approved the basis of allocation of shares and has allotted the shares to various successful applicants.

The CAN-cum-Refund Orders and Allotment Advice cum ECS/RTGS/NEFT/Direct Credit intimation have been dispatched on 29th July, 2009 to the address of the investors as registered with the depositories. Instructions toASBA banks to transfer funds related to equity shares allocated, if any, and unblock the remaining amount have been given on 29th July, 2009. in case the same is not received within ten days, investors may contact at the address given below. The Company has filed listing application with Bombay Stock Exchange Limited and National Stock Exchange of India Limited on 29th July, 2009, The Refund Orders have been over-printed with the Bank Mandate details as registered, if any, with the depositories. The shares allocated to successful applicants have been credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. The company is taking steps to get the 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.

INVESTORS PLEASE NOTE

This details of the allocation made have been hosted on the website of Registrar to the issue, Link Intime India Private Limited at www.linkintime.co.in

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 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:

Link Intime India Private United
13, Pannalal Silk Mills, Compound, LBS Marg, Bhandup (West),
Mumbai -400 078
Tel:+91-22-25960320,Fax:+91-22-25960329
Email: eil-ipo@linkintirne.co.in, Website: www.linkintime.co.in
Contact Mr. Sachin Achar

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 EXCEL INFOWAYS LIMITED