Glory Polyfilms IPO Basis of Allotment

GLORY POLYFILMS LTD.

(Originally incorporated as Glory Polyfilms Private Limited on 15th December, 1997 and obtained certificate of Incorporation from Registrar of Companies, Maharashtra, under the provisions of The Companies Act, 1956. Subsequently, the company was converted into a Public Limited Company under section Sec. 31/44 of the Companies Act, 1956 on 30th December 2005 and the name of the Company was changed to Glory Polyfilms Limited and a fresh Certificate of Incorporation was obtained from the Registrar of Companies, Maharashtra).
Registered Office: 201 Vintage Pearl, A Wing, 29th Road, Bandra (W), Mumbai - 400 050.
Tel: +91-22-2651 4811, Fax: +91-22-2651 4812,
Factory: 51/4-A, 51/4-B, 51/4-C, 51/4-p, 54/1A 54/1-C, 54/2-A, 54/2-E, 54/2-F, and 54/2-H, 54/3-D,
54/6-A Daman Industrial Estate, Village Kadiya, Daman (UT).
Tel: +91-260-222 0304 Fax: +91-260-222 0305.
Contact Person/Compliance Officer - Mr. Nitesh Kumar Jain, Company Secretary 
Website: www.glorypolyfilms.com Email: ipo@glorypolyfilms.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 82,20,000 EQUITY SHARES OF RS. 10/- EACH AT A PRICE RS. 48/- PER EQUITY SHARE INCLUSIVE OF PREMIUM AGGREGATING RS. 3945.60 LAKHS (HERE IN AFTER REFERRED TO AS THE ISSUE'). THE ISSUE WOULD CONSTITUTE 47.06% OF THE FULLY DILUTED POST-ISSUE PAID UP CAPITAL OF THE COMPANY.

ISSUE PRICE: RS. 48/- PER EQUITY SHARE OF FACE VALUE OF RS. 10 EACH
THE FACE VALUE OF THE EQUITY SHARE IS RS 10/- AND THE ISSUE PRICE IS 4.8 TIMES OF THE FACE VALUE.

The Board of Directors of Glory Polyfilms Limited ('Company') wish to thank all the Investors for their response to the Public Issue. The Basis of allotment has been finalized in consultation with the Bombay Stock Exchange Limited ('BSE') on 8th June, 2007. The Public Issue opened on Wednesday, May 9,2007 and closed on Tuesday, May 15,2007. The Issue received 2628 valid applications for 88,98,625 equity shares resulting in 1.08 times subscription and 82,20,000 equity shares has been allotted by the Board of Directors at their meeting held on 8th June, 2007 as mentioned below. The details of valid applications received in the issue from the Retail and Non-retail investor after rejection and withdrawals are as under:

A. Allocation to Retail Investors
The Company received 2444 valid applications for 32,74,250 equity shares in this category resulting in an over subscription of 1.00 times. The total number of shares allotted in this category is 32,74,250 equity Shares. The category-wise details of the allotment is as under:

3. Allocation to Non Institutional Investors
The Basis of Allotment to the Non Retail Investors was finalized in consultation with BSE. The category was subscribed 1.13 times. The total number of shares allotted in this category is 4945750 equity Shares. The category-wise details of the allotment is as under:

The Board of Directors of the Company at its Meeting held at Mumbai on 8th June, 2007 has approved the basis of allocation of shares of the Issue and has allotted the shares to various successful applicants.
The physical refund warrants, intimation regarding refunds through electronic modes (ECS, RTGS, NEFT or Direct Credit) and allotment advice has been dispatched to the same address of the investors as registered with the depositories on June 11,2007. In case the same is not received within ten days, applicants 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 allocated to successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned on June 12,2007. The listing application has been filed with the Bombay Stock Exchange Limited ('BSE') and the National Stock Exchange of India Limited fNSE') on June 12,2007 and the Company is taking steps to complete all formalities for listing and commencement of trading of equity shares within seven working days from the date of finalisation of basis of allotment.

INVESTOR PLEASE NOTE
This details of the allocation made would be hosted on the website of Registrars to the Issue, Bigshare Services Private Limited at www.bigshareonline.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 Application form, number of shares applied for, name of the Broker and Place where the application was submitted and payment details at the address given below:
Bigshare Services Private Limited,
E/2 Ansa Industrial Estate, Saki Vihar Road, Saki Naka, Andheri (E),
Mumbai 400 072
Tel : 91- 22- 4043 0200, Fax : 91 -22 - 2847 5207
Website: www.bigshareonline.com ,Email: ipo@bigshareonline.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 GLORY POLYFILMS LIMITED