January 29, 2018 - January 31, 2018

Galaxy Surfactants IPO Basis of Allotment

GALAXY SURFACTANTS LIMITED

Our Company was originally incorporated as 'Galaxy Surfactants Private Limited' on May 20,1986 at Mumbai. Maharashtra as a private limited company under the Companies Act, 1956. Pursuant to a special resoluton of our Shareholders dated January 24,1995, our Company was converted into a public limited company and our Company's name was changed to 'Galaxy Surfactants Limited' and a certificate of change of name dated March 13,1995 was issued by the Registrar of Companies, Maharashtra at Mumbai ('RoC'). For details, see 'History and Certain Corporate Matters' on page 152 of the Prospectus dated February 1, 2018 ('Prospectus').

Registered & Corporate Office: C-49/2, TTC industrial Area. Pawne, Navi Mgmbai - 400 703. Contact Person: Mr. Niranjan Kelker, Company Secretary and Compliance Officer,
Tel: +91 22 2761 6666; Fax; +91 22 2768 6523; Email: investorsservices@galaxysurfactants.com ; Website: www.galaxysurfactants.com ,
Corporate Identity Number: U39877MH1986PLC039877.

OUR PROMOTERS: MR. UNNATHAN SHEKHAR, MR. GOPALKRISHNAN RAMAKRISHNAN
MR. SUDHIR DATTARAM PATIL AND MR. SHASHIKANT SHANBHAG

Our Company has filed the Prospectus dated February 1, 2018 with the RoC, and the Equity Shares are proposed to be listed on the National Stock Exchange of India Limited ('NSE') and BSE Limited ('BSE' and together with NSE, the 'Stock Exchanges') and trading is expected to cornmence on or about February 8, 2018.

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFERING OF 6,331,674 EQUITY SHARES OF FACE VALUE OF RS 10 EACH ('EQUITY SHARES') OF GALAXY SURFACTANTS LIMITED ('COMPANY' OR 'ISSUER') FOR CASH AT A PRICE OF RS 1,480 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 1,470 PER EQUITY SHARE) ('OFFER PRICE') AGGREGATING TO RS 9,370.88 MILLION CONSISTING OF AN OFFER OF SALE OF 39,250 EQUITY SHARES BY THE PERSON LISTED IN PART I OF ANNEXURE A OF THE PROSPECTUS ('PROMOTER SELLING SHAREHOLDER'), 2,107,804 EQUITY SHARES BY THE PERSONS LISTED IN PART II OF ANNEXURE A OF THE PROSPECTUS ('PROMOTER GROUP SELLING SHAREHOLDERS') AND 4,184,620 EQUITY SHARES BY THE PERSONS LISTED IN PART III OF ANNEXURE A OF THE PROSPECTUS ('OTHER SELLING SHAREHOLDERS' AND TOGETHER WITH THE PROMOTER SELLING SHAREHOLDER AND PROMOTER GROUP SELLING SHAREHOLDERS THE 'SELLING SHAREHOLDERS') ('OFFER'). THE OFFER CONSTITUTES 17.86% OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.

OFFER PRICE: RS 1,480 PER EQUITY SHARE OF FACE VALUE OF RS 10 EACH
ANCHOR INVESTOR OFFER PRICE: RS 1,480 PER EQUITY SHARE
THE OFFER PRICE IS 148 TIMES THE FACE VALUE

Risks to Investors:

1. The three Book Running Lead Managers associated with the Offer have handled 56 public Issues in the past three financial years out of which 11* public issues closed below the issue price on listing date.

2. There are no listed peers whose business portfolio or scale of operations are comparable with ours,

3. The Price/Eamings ratio based on diluted Earnings Per Share ('Diluted EPS'') as per our Restated Consolidated Financial Statements for the Financial Year 2017, at the upper end of the Price Band, is as high as 35.86x, as compared to the Nifty 50 Index Price/Earnings ratio of 27.28x (as on January 12, 2018).

4. The average cost of acquisition per Equity Share for our Promoters, Mr. Unnathan Shekhar, Mr. Gopalkrishnan Ramakrishnan. Mr. Sudhir Dattaram Patil and Mr. Shashikant Shanbhag is Rs 6.39, Rs 5.37, Rs 4.41 and Rs 4.13, respectively. The Offer Price is Rs 1,480.

*As disclosed in the prospectus

OFFER PERIOD: OPENED ON MONDAY, JANUARY 29, 2018
OFFER PERIOD: CLOSED ON WEDNESDAY, JANUARY 31, 2018
ANCHOR INVESTOR OFFER PERIOD: THURSDAY, JANUARY 25, 2018

The Offer has been made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ('SCRR') read with Regulation 41 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended ('SEBI Regulalions'). and in compliance with Regulation 26(1) of the SEBI Regulations, where in not more than 50% of the Offer was allocated on a proportionate basis to Qualified Institutional Buyers ('QIBs')('QIB Category'). Our Company in consultation with the BRLMs. allocated up to 60% of the QIB Category to Anchor Investors on a discretionary basis in accordance with the SEBI Regulations. ('Anchor Investor Category'), of which one third was reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. 5% of the QIB Category (excluding the Anchor Investor Category) was available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Category was available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received from them at or above the Offer Price, Further, not less than 15% of the Offer was available for allocation on a proportionate basis to Non-institutional Investors and not less than 35% of the Offer was available for allocation to Retail Individual Investors in accordance with the SEBI Regulations, subject to valid Bids being received at or above the Offer Pnce. All Bidders (except Anchor Investors) were required to mandatorily utilise the Application Supported By Blocked Amount ('ASBA') process, and provide details of their respective ASBA accounts in which the corresponding Bid Amounts were blocked by the SCSBs, Anchor Investors were not permitted to participate in the Offer through the ASBA process. For details, see 'Offier Procedure' on page 363 of the Prospectus.

The Offer received 1,099,237 applications for 89,699,010 Equity Shares (prior to technical Rejections) resulting in 14.1983 times subscription. The details of the applications received in the Offer from various categories are as under: (Before Technical Rejections):

SI. No.	Category	No. of Applications	No. of Equity Shares Applied	Equity Shares Reserved (as per Prospectus)	No. of times Subscribed	Amount (Rs.)
A.	Retail Individual Bidders	1,098,223	12,847,560	2,216,086	5.7974	19,120,560,954
B.	Non-Institutional Bidders	891	6,298,900	949,752	6.6322	9,322,358,240
C.	Qualified Institutional Buyers (Excluding Anchor Investors)	90	68,665,730	1,266,336	54.2239	101,625,280,400
D.	Anchor Investors	33	2,086,820	1,899,500	1.0986	3,088,493,600
	Total	1,099,237	89,899,010	6,331,674	14,1983	133,156,693,194

Final Demand
A summary of the final demand as at different Bid prices is as under.

SI NO.	Bid Price	No. of Equity Shares	(%) to Total	Cumulative Total	Cumulative % of Total
1	1470	42,300	0.05	42,300	0.05
2	1471	1,450	0.00	43,750	0.05
3	1472	1,360	0.00	45,110	0 05
4	1473	780	0.00	45,890	0.05
5	1474	740	0.00	46,630	0.05
6	1475	23,420	0.03	70,050	0.08
7	1476	1,760	0.00	71,810	0 08
8	1477	1,460	0.00	73,270	0.08
9	1478	7,550	0.01	80,820	0.09
10^.	1479	7,280	0.01	88,100	0 10
11	1480	77,329,780	87.14	77,417,880	87.24
12	CUT OFF	11,324,720	12.76	88,742,600	100.00
	TOTAL	88,742,600	100.00

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being NSE, on Monday, February 5, 2018.

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

The Basis of Allotment to the Retail Individual Bidders, who have bid at the Cut-Off Price or at the Offer Price of Rs 1,480 per Equity Share, was finalized in consultation with NSE. This category has been subscribed to the extent of 5.7030 times. The total number of Equity Shares Allotted in Retail Category is 2,216,086 Equity Shares to 221,608 successful Retail Individual Bidders. The category-wise details of the Basis of Allotment are as under;

Category	No. of Application Received	% of Total	Total No. of Equity Shares Applied	% to Total	No. of Equity Shares Allotted per Bidder	Ratio	Total No. of Equity Shares Allotted
10	1,031,751	95.41	10,317,510	81.64	10	25:122	2,114,320
20	22,321	2.06	446,420	3 53	10	25:122	45,740
30	7,615	0.70	228,450	1.81	10	25:122	15,600
40	3,061	0.28	122,440	0 97	10	25:122	6,270
50	4,157	0.38	207,850	1.64	10	25:122	8,520
60	1,632	0.15	97,920	0.77	10	25:122	3,340
70	1,371	0.13	95,970	0.76	10	25:122	2,810
80	491	0.05	39,280	0.31	10	25:122	1,010
90	366	0.03	32,940	0.26	10	25:122	750
100	2,138	0.20	213,800	1.69	10	25:122	4,380
110	291	0.03	32,010	0.25	10	25:122	600
120	478	0.04	57,360	0.45	10	25:122	980
130	5,741	0.53	746,330	5.91	10	25:122	11,760
1 additional share is allocated from Serial no. 2 to 13 in the ratio of 6:10176					1	6:10176	6
Total	1,081,413	100.00	12,638,280	100.00			2,216,086

B Allotment to Non-lnstitutional Bidders (After Technical Rejection)

The Basis of Allotment to the Non-Institutional Bidders, who had bid at the Offer Price of Rs 1,480 per Equity Share, was finalized in consultation with NSE. The Non- Institutional Category has been subscribed to the extent of 6.6246 times. The total number of Equry Shares Allotted in this category is 949,752 Equity Shares to 866 successful Non-institutional Bidders. The category-wise details of the Basis of Allotment are as under: (Sample as under)

Category	No. of Application Received	% of Total	Total No. of Equity Shares Applied	% to Total	No. of Equity Shares Allotted per Bidder	Ratio	Total No. of Equity Shares Allotted
140	170	19.63	23,800	0.38	21	1:1	3,570
150	76	8.78	11,400	0.18	23	1:1	1,748
160	14	1.62	2,240	0.04	24	1:1	336
170	12	1.39	2,040	0.03	26	1:1	312
160	3	0.35	540	0.01	27	1:1	81
190	3	0.35	570	0.01	29	1:1	87
200	55	6.35	11,000	0.17	30	1:1	1,650
210	8	0.92	1,680	0.03	32	1:1	256
220	4	0.46	880	0.01	33	1:1	132
230	2	0.23	460	0.01	35	1:1	70
240	6	0.69	1,440	0 02	36	1:1	216
250	17	1.96	4,250	0.07	37	1:1	629
260	3	0.35	780	0.01	39	1:1	117
300	16	1.85	4,800	0.08	45	1:1	720
330	10	1.15	3,300	0.05	50	1:1	500
340	10	1.15	3,400	0.05	51	1:1	510
350	15	1.73	5,250	0.08	53	1:1	795
380	2	0.23	760	0.01	58	1:1	116
400	18	2.08	7,200	0.11	60	1:1	1,080
500	23	2.66	11,500	0.16	75	1:1	1,725
700	24	2.77	16,800	0.27	106	1:1	2,544
54,050	1	0.12	54,050	0.86	8,159	1:1	8,159
54,060	1	0.12	54,060	0.86	8,160	1:1	8,160
58,780	1	0.12	58,780	0.93	8,873	1:1	8,873
64,190	1	0.12	64,190	1.02	9,690	1:1	9,690
67,560	3	0.35	202,680	3.22	10,198	1:1	30,594
70,000	1	0.12	70,000	1.11	10,567	1:1	10,567
81,000	1	0.12	81,000	1.29	12,227	1:1	12,227
90,000	2	0.23	180,000	2 86	13,586	1:1	27,172
91,210	1	0.12	91,210	1.45	13,768	1:1	13,768
101,350	1	0.12	101,350	1.61	15,299	1:1	15,299
105,000	2	0.23	210,000	3.34	15,850	1:1	31,700
120,000	1	0.12	120,000	1.91	18,114	1:1	18,114
135,000	1	0.12	135,000	2.15	20,378	1:1	20,378
135,130	1	0.12	135,130	2.15	20,398	1:1	20,398
136,000	1	0.12	136,000	2.16	20,529	1:1	20,529
200,000	2	0.23	400,000	6.36	30,190	1:1	60,380
202,700	1	0.12	202,700	3.22	30,597	1:1	30,597
337,830	1	0.12	337,830	5.37	50,995	1:1	50,995
350,000	1	0.12	350,000	5.56	52,832	1:1	52,832
405,400	1	0.12	405,400	6.44	61,195	1:1	61,195
608,100	1	0.12	608,100	9.67	91,793	1:1	91,793

C. Allotment to QIBs (excluding anchor Investors) (After Technical Rejections)

Allotment to QIBs, who had Bid at the Offer Price of Rs 1,480 per Equity Share, has been done on a proportionate basis in consultation with the NSE. This category has been subscribed to the extent of 54,2239 times of QIB Category (excluding anchor investors). As per the SEBI Regulations, Mutual Funds were Allotted 5% of the Equity Shares of QIB Category (excluding anchor investors) available i.e. 63,317 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were Allotted the remaining available Equity Shares i.e. 1,203,019 Equity Shares on a proportionate basis The total number of Equity Shares Allotted in the QIB Category is 1,266,336 Equity Shares, which were allotted to 90 successful QIB Bidders. The category-wise details of the Basis of Allotment are as under:

Category	Fls/BANKS	MFs	ICs	VCs	AIF	NBFC	FPI	TOTAL
QIB (Excluding Anchor Investors)	227,490	221,411	143,106	-	278,251	94,789	301,289	1,266,336

D. Allotment to Anchor Investors (After Technical Rejections)

The Company, in consultation with the BRLMs. has allocated 1,899,500 Equity Shares to 25 Anchor Investors (through 33 Applications) at the Anchor Investor Offer Price of Rs 1,480 per Equity Share in accordance with the SEBI Regulations. This represents approximately 60% of the QIB Category.

Category	Fls/BANKS	MFs	ICs	VCs	AIF	NBFC	FPI	TOTAL
QIB	-	797,580	262,580	-	-	165,000	674,340	1,899,500

The IPO Committee of our Company on February 6, 2016 has laken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being NSE, and has allotted the Equity Shares to various successful Bidders. The Allotment Advice and/or notices will be dispatched to the address of the investors as registered with the depositories. Further, the instructions to the Self Certified Syndicate Banks for unblockng of funds, transfer to Public Offer Account have been issued on February 5, 2018 and payment to non-Syndicate brokers have been issued on February 6, 2018. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below The Equdy Shares Allotted to the successful Allottees have been uploaded on February 6, 2018 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed for final listing and commencerert of trading approvals, from the Stock Exchanges on February 6, 2016. The Company has received listing and trading approvals from NSE and BSE and trading is expected to commence on or about February 8, 2018.

All capitalised terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus.

INVESTORS PLEASE NOTE

The details of the allotment made will be hosted on the website of the Registrar to the Offer, Link Intime India Private Limited at www.linkintime.in

All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the first/sole Bidder, Bid cum Application Form number, Bidder DP ID, Client ID, PAN, date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares applied for, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and a copy of the Acknowledgment Slip received from the Designated Intermediary at the address given below;

Link Intime India Private Limited
C-101, 247 Park, Lal Bahadur Shastri Marg Vikhroli West, Mumbai 400 063, Maharashtra, India
Tel: +91 (22) 4918 6200 ,Fax +91 (22) 4918 6195
E-mail: galaxy.ipo@linkintime.co.in: Invester grievance E-mail: galaxy.ipo@linkintime.co.in
Website: www.linkintime.co.in. Contact person: Shanti Gopalakrishnan
SEBI Redistration number: INR000004058

Place: Navi Mumbai Date: February 7, 2018	For GALAXY SURFACTANTS LIMITED On behalf of the Board of Directors Sd/- Company Secretary and Compliance Officer

Galaxy Surfactants IPO Basis of Allotment FAQs

The IPO allocation is based on the subscription level and the investor category.

Refer to IPO allotment rules and methods for more details.

See the basis of allotment document above to know how the shares are allocated in Galaxy Surfactants IPO .

The Galaxy Surfactants IPO basis of allotment (published above) tells you how shares are allocated to you in Galaxy Surfactants IPO and category wise demand of IPO share.

Visit the Galaxy Surfactants IPO allotment status page to check the number of shares allocated to your application.

In Galaxy Surfactants IPO allotment process, the registrar separates valid and invalid applications. The invalid applications with technical errors are rejected and only valid applications at or above the cut-off price are considered for allotment.

For more information, please refer to IPO Allotment Process and Basis of Allotment.

Check the Galaxy Surfactants IPO basis of allotment document to know how the shares are allocated in Galaxy Surfactants IPO.

Galaxy Surfactants IPO Basis of Allotment

Galaxy Surfactants IPO Basis of Allotment FAQs

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