India Pesticides IPO Basis of Allotment

Our Company was originally incorporated as 'India Pesticides Private Limited', a private limited company at Bareilly, Uttar Pradesh under the Companies Act, 1956 on December 13, 1984 and was granted a certificate of incorporation by the Registrar of Companies, Uttar Pradesh at Kanpur. Subsequently, pursuant to a deed of dissolution dated June 30, 1987, our Company acquired the entire rights and liabilities of 'India Pesticides' a partnership firm formed under the Indian Partnership Act, 1932, where our Company was one of the partners at the time of dissolution of the firm. With effect from March 31, 1993, our Company became a deemed public company under Section 43A(1A) of the Companies Act, 1956, the word 'Private' was removed from the name of our Company and the certificate of incorporation of our Company was endorsed by the Registrar of Companies, Uttar Pradesh at Kanpur to that effect. Subsequently, pursuant to a special resolution passed by the Shareholders of our Company in its annual general meeting on September 30, 2002, our Company was converted into a public limited company. A fresh certificate of incorporation dated April 24, 2003 consequent upon conversion into a public limited company under the Companies Act, 1956 was issued to our Company by the Registrar of Companies, Uttar Pradesh and Uttaranchal at Kanpur. For further delays in relation to change in name of our Company, see 'History and Certain Corporate Matters' on page 160 of the Prospectus dated June 28, 2021 ('Prospectus').

Our Company has filed the Prospectus dated June 28, 2021 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 trading is expected to commence on July 5, 2021.

INITIAL PUBLIC OFFER OF 27,027,026 EQUITY SHARES OF FACE VALUE OF Rs. 1 EACH ("EQUITY SHARES") OF INDIA PESTICIDES LIMITED ("COMPANY" OR "ISSUER") FOR CASH AT A PRICE OF Rs. 296 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs. 295 PER EQUITY SHARE) AGGREGATING UP TO Rs. 8,000 MILLION (THE "OFFER") COMPRISING A FRESH ISSUE OF 3,378,378 EQUITY SHARES AGGREGATING UP TO Rs. 1,000 MILLION (THE "FRESH ISSUE") AND AN OFFER FOR SALE OF 23,648,648 EQUITY SHARES, INCLUDING 9,506,758 EQUITY SHARES AGGREGATING UP TO Rs. 2,814 MILLION BY ANAND SWARUP AGARWAL (THE "PROMOTER SELLING SHAREHOLDER") AND 14,141,890 EQUITY SHARES AGGREGATING UP TO Rs. 4,186 MILLION, BY THE OTHER SELUNG SHAREHOLDERS (AS DEFINED HEREAFTER, AND COLLECTIVELY WITH THE PROMOTER SELLING SHAREHOLDER, REFERRED TO AS THE "SELLING SHAREHOLDERS", AND SUCH EQUITY SHARES, THE "OFFERED SHARES") AGGREGATING UP TO Rs. 7,000 MILLION (THE "OFFER FOR SALE"). THE OFFER SHALL CONSTITUTE 23.47% OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.

THE FACE VALUE OF EQUITY SHARES IS Rs. 1 EACH. THE OFFER PRICE IS Rs. 296 PER EQUITY SHARE AND IS 296 TIMES THE FACE VALUE OF THE EQUITY SHARES.

The Offer was 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 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 50% of the Offer was available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs") (the 'QIB Portion'). Our Company and the Promoter Selling Shareholder, in consultation with the BRLMs, allocated up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations ("Anchor Investor Portion"), of which one-third was reserved for domestic Mutual Funds, subject to valid Bids having been received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription or non-allocation in the Anchor investor Portion the balance Equity Shares were added to the Net QIB Portion. Further 5% of the Net QIB Portion was available for allocation on a proportionate basis to Mutual Funds only and the remainder of the Net QIB Portion was available for allocation on a proportionate basis to all QIB Bidders including Mutual Funds, subject to valid Bids having been received at or above the Offer Price. Further, not less than 15% of the Offer was made available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Offer was made available far allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids having been received from them at or above the Offer Price. All potential Bidders (except Anchor Investors) were required to mandatory utilise the Application Supported by Blocked Amount ("ASBA") process providing details of their respective ASBA accounts and UPI ID (in case of RIBs), if applicable, in which the corresponding Bid Amounts were blocked by the SCSBs or under the UPI Mechanism, as applicable. Anchor Investors were not permitted to participate in the Offer through the ASBA process. For details, see "Offer Procedure" on page 335 of the Prospectus.

The Offer received 1,416.491 applications for 554,456,900 Equity Shares resetting in 20.51 times subscription as disclosed in Prospectus. The details of the applications received in the Offer from Retail Individual Bidders, Non-Institutional 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 Closing Date at different Bid prices is as under:

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE on June 30, 2021.

Please Note: 1 additional Share shall be allotted to 10 Allottees from amongst 18,951 Successful Applicants from the categories 100-650 (i.e. excluding successful applicants from Category 50) in the ratio of 10:18951.

The IPO Committee of the Board of Directors of our Company at its meeting held on July 1, 2021 has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has allotted the Equity Shares to various successful applicants. The Allotment Advice Cum Refund Intimation has been dispatched to the address of the investors as registered with the depositories. Further, instructions to the SCSBs have been issued for unblocking of funds and transfer to the Public Offer Account on June 30, 2021 and the payments to non-syndicate brokers have been issued on July 1,2021. 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 1,2021, for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has obtained the listing and trading approvals from BSE and NSE, and trading is expected to commence on July 5, 2021.

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

INVESTORS PLEASE NOTE

These details of the Allotment made shall be hosted on the website of Registrar to the Offer, KFin Technologies Private Limited at www.kfintech.com.

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 ASBAform, 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:

KFin Technologies Private Limited

Selenium Tower-B, Plot 31 & 32, Gachibowli Financial District, Nanakramguda,

Serilingampally, Hyderabad 500 032 Telangana, India.

Tel: +91 40 6716 2222; E-mail: ipl.ipo@kfintech.com, Investor Grievance e-mail: einward.ris@kfintech.com;

Website: www.kfintech.com; Contact Person: M Murali Krishna; SEBI Registration Number: INR000000221

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 INDIA PESTICIDES LIMITED.

India Pesticides Limited has filed the Prospectus with the Registrar of Companies, Uttar Pradesh at Kanpur. The Prospectus is available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers, Axis Capital Limited and JM Financial Limited at https://www.axiscapital.co.in and https://www.jmfl.com, respectively, the website of the National Stock Exchange of India Limited at www.nseindia.com and the website of the BSE Limited at www.bseindia.com, respectively. Investors should note that investment in equity shares involves a high degree of risk. For details, investors should refer to the RHP and Prospectus which have been filed with the Registrar of Companies, Uttar Pradesh at Kanpur including the section titled 'Risk Factors' on page 28 of the Prospectus. Potential investors should not rely on the DRHP filed with the SEBI in making any investment decision.

The Equity Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any other applicable law of 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 state securities laws. Accordingly, the Equity Shares are being offered and sold (a) in the United States only to persons reasonably believed to be "qualified institutional buyers" (as defined in Rule 144A under the U.S. Securities Act and referred to in the Draft Red Herring Prospectus as "U.S. QIBs") in transactions exempt from the registration requirements of the U.S. Securities Act and (b) outside the United States in compliance with Regulation S and the applicable laws of the jurisdiction where those offers and sales are made. There will be no public offering in the United States.