Gokul Refoils IPO Basis of Allotment

Gokul Refoils And Solvent Limited

(Our Company was incorporated on December 29, 1992 as Gokul Refoils and Solvent Private Limited vide Registration No. 04-18745 under the Companies Act, 1956. Subsequently it was converted into a public limited company vide special resolution passed at the Extra Ordinary General Meeting of the Company held on May 2, 1994, pursuant to which we received a fresh certificate of Incorporation dated July 1, 1994 by the Registrar of Companies, Gujarat. For further details please refer the chapter titled 'History and Corporate Structure' on page 151 of the Prospectus.)
Registered Office: State Highway No. 41, Near Sujanpur Patia, Sidhpur, Gujarat- 384151 Tel. No. +91-2767-222075, 220 975 Fax No. +91 -2767 - 223475
Corporate Office: 'GOKUL HOUSE', 43 - Shreemal Co- op Housing Society Limited, Opp. Shikhar Building, Navrangpura, Ahmedabad - 380 009, Tel: +91-79-6630 4555 Fax: +91-79 6630 4543; Email: gokulipo@gokuloil.com, Website: www.gokuloil.com Company Secretary and Compliance Officer: Mr. Manish Kella

BASIS OF ALLOCATION

The Issue was made through the 100% Book Building Process wherein at least 50% of the net Issue was 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, up to 15% of the Issue was made available for allocation on a proportionate basis to Non-Institutional Bidders and up to 35% of the Issue was made available for allocation on a proportionate basis to Retail Bidders, subject to valid bids being received at or above the Issue Price. FURTHER UPTO 75,000 EQUITY SHARES WERE MADE AVAILABLE FOR ALLOCATION ON A PROPORTIONATE BASIS TO ELIGIBLE EMPLOYEES, SUBJECT TO VALID BIDS BEING RECEIVED AT OR ABOVE THE ISSUE PRICE.
The Issue received 52155 applications for 28442050 equity shares resulting in 3.9732 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional, Retail Individual Investor and Employee categories are as under: (Before technical rejections)

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

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited ('BSE') on 26th May, 2008. A. Allocation to Employees (After Technical Rejections)
The Basis of Allocation to the Employees, who have bid at cut-off or at the Issue Price of Rs. 195/- per Equity Share was finalized in consultation with BSE. The category was subscribed 1.132600 times. The total number of Equity Shares allotted in this category is 75000 Equity Shares to 116 successful applicants. The category wise details of the Basis of Allocation (sample) are as under:

B. Allocation to Retail Individual Investors (After Technical Rejections)
The Basis of Allocation to Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 195/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 5.182092 times. The total number of equity shares allotted in this category is 2479193 to 36499 successful applicants. The category wise details of the Basis of Allocation are as under:

C. Allocation to Non Institutional Investors (Alter Technical Rejections)
The Basis of Allocation to Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 195/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 5.414369 times. The total number of equity shares allotted in this category is 1062503 to 133 successful applicants. The category wise details of the Basis of Allocation (sample) are as under:

D. Allocation to QIBs
Allocation to QIBs has been done on a proportionate basis in consultation with NSE. As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available (1,77,085) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (33,64,611) on proportionate basis.

The IPO Committee of the company at it's Meeting held at Mumbai on May 27th, 2008 has approved the basis of allocation of shares of the Issue and has allotted the shares to various successful applicants.

The CAN-cum-Refund Orders/allotment advice and call money notices have been dispatched to the address of the investors as registered with the depositories. In case the same is not received within ten days, investors may contact atthe address given below. 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 are being credited.to their beneficiary accounts subject to validation of the account details with the depositories concerned. The company is taking steps to get the equity shares admitted for trading on the National Stock Exchange of India Limited and Bombay Stock Exchange Limited within seven working days from the date of approval of the basis of allocation.

INVESTORS PLEASE NOTE
This details of the allocation 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 (W), Mumbai - 400 078. Tel: +91-22-25960320. Fax: +91-22-25960329.
Email: gokulipo@intimespectrum.com
TOLL FREE-HELPLINE NUMBERS - 1800 22 0320

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 GOKUL REFOILS AND SOLVENT LIMITED