ideaForge Technology IPO Basis of Allotment

*As certified by RamanandA Associates, Chartered Accountants, by way of their certificate dated July 3,2023.

*Computed based on the Equity Shares acquired/allotted/purchased (including acquisition pursuant to transfer). However, the Equity Shares disposed off have not been considered while computing number of Equity Shares acquired.

8. The details of Earnings per share, Return on Networth and NAV as on and for the period ended March 31,2023 are as follows:-

* At upper end of price band i.e., Rs. 672 which is also the Offer Price.

9. The details market capitalization and market value to total turnover on the upper end'/lower end of the price band are as below:

The Upper end of the Price Band i.e., Rs. 672 which is also the Offer Price.

10. The two BRLMs associated with the Offer have handled 49 public issues in the past three years, out of which 15 issues closed below the Offer Price on listing date:

BID/OFFER PROGRAMME

ANCHOR INVESTOR BIDDING DATE OPENED AND CLOSED ON FRIDAY, JUNE 23,2023 BID/ OFFER OPENED ON MONDAY, JUNE 26,2023 BID/ OFFER CLOSED ON FRIDAY. JUNE 30,2023*

'Our Company, pursuant to a letter dated June 27,2023 to SEBI, sought an exemption under Regulation 300(1)(c) of the SEBIICDR Regulations to extend the Bid / Offer Period by 1 (one) Working Day, i.e. the Bid/Offer Closing Date to be Friday, June 30,2023. SEBI vide its letter dated June 28,2023, acceded to the exemption to extend the Bid/ Offer Closing Date to Friday, June 30,2023.

The Offer was made in terms of Rule 19(2)(b) of the SCRR, read with Regulation 31 of the SEBI ICDR Regulations. The Offer was made through the Book Building Process, in compliance with Regulation 6(2) of SEBI ICDR Regulations, wherein not less than 75% of the Net Offer was made available for allocation on a proportionate basis to Qualified Institutional Buyers (‘QIBs' and such portion, the ‘QIB Portion'). Our Company. Indusage and Celesta Capital, in consultation with the BRLMs, allocated up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (the 'Anchor Investor Portion'), of which one-third was made reserved for the domestic Mutual Funds, subject to valid Bids having been received from the domestic Mutual Funds at or above the price at which allocation was made to Anchor Investors ("Anchor Investor Allocation Price") in accordance with the SEBI ICDR Regulations. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares was added to the QIB Portion (other than the Anchor Investor Portion) (the "Net QIB Portion"). Further, 5% of the Net QIB Portion (excluding the Anchor Investor Portion) was made available for allocation on a proportionate basis only to Mutual Funds, subject to valid Bids having been received at or above the Offer Price, and the remainder of the Net Ql B Portion was available for allocation on a proportionate basts to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids havmg been received at or above the Offer Price. Further. 13,112 Equity Shares aggregating to Rs. 8.39 million was made available for allocation to Eligible Employees, subject to valid Bids having been received at or above the Offer Price. Further, not more than 15% of the Net Offer was made available for allocation on a proportionate basis to Non-lnstitutional Investors ("Non-lnstitutional Portion") (out of which onethird of the portion available to Non-lnstitutional Investors was made available for allocation to Bidders with an application size of more than Rs. 200.000 and up to Rs. 1.000,000 and two-thirds of the Non-lnstitutional Portion was made available for allocation to Bidders with an application size of more than Rs. 1,000.000 and under-subscription in either of these two sub-categories of Non-lnstitutional Portion was allocated to Bidders in the other sub-category of Non-lnstitutional Portion) and not more than 10% of the Net Offer was made available for allocation to Retail Individual Investors ("Retail Portion'}, in accordance with the SEBI ICDR Regulations, subject to valid Bids received from them at or above the Offer Price. All Bidders (except Anchor Investors) were required to mandatorily participate in the Offer only through the Application Supported by Blocked Amount ("ASBA") process and were required to provide details of their respective bank account (including UPI ID for UPI Bidders using UPI Mechanism) in which the Bid Amount was blocked by the Self Certified Syndicate Banks ('SCSBs') or the Sponsor Bank Anchor Investors were not permitted to participate in the Anchor Investor Portion through the ASBA process. Further, Equity Shares were allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids having been received from them at or above the Offer Price. For details, see Offer Procedure'on page403of the Prospectus.

The bidding for Anchor Investor opened and closed on Friday. June 23.2023. The Company received 31 applications from 25 Anchor Investors (including 12 mutual funds through 18 Mutual Fund schemes) for 41,94.894 Equity Shares. The Anchor Investor Offer Price was finalized at Rs. 672 per Equity Share . A total of 37,92,894 Equity Shares were allocated under the Anchor Investor Portion aggregating to Rs. 2,54,88,24,768.

The Offer received 24,95,618 applications for 49,78,11,160 Equity Shares resulting in 58.97 times subscription as disclosed in the Prospectus. The details of the applications received in the Offer from Retail Individual Bidders, Non-lnstitutional Bidders and QIBs are as under (before technical rejections):

Final Demand

A summary of the final demand as per BSE and NSE as on the Bid/Offer Dosing Date at different Bid prices is as under:

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being NSE on July 5,2023.

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

The Basis of Allotment to the Retail Individual Bidders, who have bid at cut-off or at the Offer Price of Rs. 672 per Equity, was finalized in consultation with NSE. This category has been subscribed to the extent of 82.03 times The total number of Equity Shares Allotted in Retail Individual Bidders category is 8.42,865 Equity Shares to 38,312 successful applicants. The category-wise details of the Basis of Allotment are as under:

B. Allotment to Non-lnstitutional Bidders (more than Rs. 2 lakhsand uptoRs. 10 lakhs) (After Technical Rejections) (including ASBA Applications)

The Basis of Allotment to the Non-lnstitutional Bidders (more than Rs. 2 lakhs and upto Rs. 10 lakhs), who have bid at the Offer Price of Rs. 672 per Equity Share or above, was finalized in consultation with NSE. This category has been subscribed to the extent of 77.09 times. The total number of Equity Shares allotted in this category is 4.21.432 Equity Shares to 1.368 successful appBcants. The category-wise details of the Basis of Allotment are as under: (Sample)

C. Allotment to Non-lnstitutional Bidders (more than Rs. 10 lakhs) (After Technical Rejections) (including ASBA Applications)

The Basis of Allotment to the Non-lnstitutional Bidders (more than Rs. 10 lakhs), who have bid at the Offer Price of Rs. 672 per Equity Share or above, was finalized in consultation with NSE. This category has been subscribed to the extent of 79.07 times. The total number of Equity Shares allotted in this category is 8.42.865 Equity Shares to 2.736 successful applicants. The category-wise details of the Basis of Allotment are as under: (Sample)

D. Allotment to Eligible Employees (After Technical Rejections) (including ASBA Applications)

The Basis of Allotment to the Eligible Employees, who have bid at the Offer Price of 7 672 (at a discount of Rs. 32 per Equity Share offered to Eligible Employees) per Equity Share or above, was finalized in consultation with NSE. This category has been subscribed to the extent of 2.36 times on an overall basis. The total number of Equity Shares allotted in this category is 13.112 Equity Shares to 178 successful applicants. The category-wise details of the Basis of Allotment are as under:

Allocation to Eligible Employees (uptoRs.2,00,000)

Allocation to Eligible Employees (Rs. 2,00,000 Upto Rs. 5,00.000)

E. Allotment to QIBs (After Technical Rejections)

Allotment to QIBs. who have txd at the Offer Price of Rs. 672 per Equity Share or above, has been done on a proportionate basis m consultation with NSE. This category has been subscribed to the extent of 126.17 times of Net QIB portion. As per the SEBIICOR Regulations. Mutual Funds were allotted 5% of the Equity Shares of Net QIB portion available i.e. 1.26,430 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were allotted the remaining available Equity Shares i.e. 24.02,166 Equity Shares on a proportionate basis The total number of Equity Shares allotted in the QIB category is 25.28.596 Equity Shares, which were allotted to 170 successful Applicants.

F. Allotment to Anchor Investors (After Technical Rejections)

The Company in consultation with the BRIMs, has allocated 37,92,894 Equity Shares to 25 Anchor Investors (through 31 Anchor Investor Application Forms) (including 12 domestic Mutual Funds through 18 schemes) at an Anchor Investor Offer Price at Rs. 672 per Equity Share in accordance with SEBIICDR Regulations. This represents 60% of the QIB portion.

The IPO Committee of our Company at its meeting held on July 5.2023 has taken 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 applicants The Allotment Advice Cum Refund Intimation and/or notices have been dispatched to the address of the investors as registered with the depositones. Further, instructions to the SCSBs have been issued for unblocking of funds and transfer to the Public Offer Account on July 5.2023 and the payments to non-syndicate brokers have been issued on July 5.2023. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares allotted to the successful allottees have been uploaded on July 5.2023 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the Listing application with NSE and BSE on July 5,2023. The Company has received the listing and trading approval from NSE & BSE. and trading will commence on July 7.2023.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.

These details of the Allotment made shall be hosted on the website of Registrar to the Offer, 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 Offer quoting full name of the First/ Sole applicant. Serial number of the Bid cum Application form number. Bidders DP ID. Client ID. PAN. date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares bid for. name of the Member of the Syndicate, place where the bid was submitted and payment details at the address given below:

Link Intime India Private Limited

C-101.1" Floor. 247 Park. L.B.S. Marg. Vikhroli West. Mumbai 400 083 Maharashtra. India Tel: +91 810 811 4949; E-mail: ideaforge ipo@linkmtime.co.in

Website: www.linkintime.co.in; Investor grievance e-mail: ideaforge.ipo@linkintime.co.in: Contact person: Shanti Gopalkrishnan: SEBI Registration No.: INR000004058

The level of subscription should not be taken to be indicative of either the market price of the equity shares on listing or the business prospects of ideaForge Technology Limited.

ideaForge Technology Limited has made an initial public offer of its Equity Shares and had filed a draft red herring prospectus dated February 10.2023 with SEBI (the DRHP) a red hemng prospectus dated June 19, 2023 (the ‘RHP') with the Registrar of Companies. Maharashtra at Mumbai, an addendum to the RHP dated June 22, 2023 filed with SEBI (the Addendum ), an addendum cum corrigendum to RHP dated June 24.2023 (the "Addendum cum Corrigendum"), corrigendum dated June 27, 2023 ("Corrigendum dated June 27,2023") and corrigendum dated June 28.2023 ("Corrigendum dated June 28, 2023" and together with Addendum. Addendum cum Corrigendum and Corrigendum dated June 27, 2023, the Addenda and Corrigenda') filed with SEBI and has filed a Prospectus dated July 3.2023 with the RoC and thereafter with SEBI and the Stock Exchanges. The Addenda and Corrigenda, the RHP and the Prospectus are available on the website of SEBI at www.sebt.gov.in as well as on the website of the BRLMs i.e., JM Financial Limited at www.jmfl.com and IIFL Securities Limited at www.iiflcap.com, the website of NSE at www.nseindia.com and the website of BSE at www.bseindia.com. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risks, please see the section titled 'Risk Factors'¹ beginning on page 28 of the Prospectus. Potential investors should not rely on the DRHP for making any investment decision.

The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933. as amended (the "US. Securities Act") or any state securities laws in the United States, and unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. Accordingly, the Equity Shares are being offered and sold outside the United States in "offshore transactions' as defined and in reliance on Regulation S and the applicable laws of each jurisdictions where such offers and sales are made. There will be no public offering of the Equity Shares in the United States.