Iris Clothings DoReMe IPO Basis of Allotment

Our Company was originally incorporated as "Iris Clothings Private Limited" under the Provisions of the Companies Act, 1956 on August 27, 2011 bearing Corporate Identification Number U18109WB2011PTC166895 issued by the Registrar of Companies, West Bengal. Our Company was subsequently converted into a Public Limited Company and consequently name was changed to "Iris Clothings Limited" and Fresh Certificate of Incorporation was issued by the Registrar of Companies, West Bengal on July 24, 2018. For further details in relation to the change in the name of our Company, please refer to the section titled "History and certain Corporate Information" beginning on page 108 of the Prospectus.

PUBLIC ISSUE OF 12,30,400 EQUITY SHARES OF RS. 10 EACH ("EQUITY SHARES") OF IRIS CLOTHINGS LIMITED ("ICL" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 90 PER SHARE (THE "ISSUE PRICE"), INCLUDING A PREMIUM OF RS. 80 PER SHARE, AGGREGATING TO RS. 1,107.36 LACS ("THE ISSUE"), OF WHICH, 62,400 EQUITY SHARES OF RS. 10 EACH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (AS DEFINED IN THE SECTION "DEFINITIONS AND ABBREVIATIONS") (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION i.e. ISSUE OF 11,68,000 EQUITY SHARES OF RS. 10 EACH IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.40% AND 25.06%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.

The Equity Shares of the Company are proposed to be listed on the EMERGE Platform of National Stock Exchange of India Limited ("NSE"). Our Company has received an approval from NSE for the listing of the Equity Shares pursuant to letter dated September 06,2018. NSE shall be the Designated Stock Exchange for the purpose of this Issue. The trading is proposed to be commenced on October 23, 2018 (Subject to receipt of listing and trading approvals from the NSE).

The Issue is a Fixed Price Issue wherein 50% of Net Issue of the Equity Share offered are reserved for allocation to Applicants below or equal to Rs. 2.00 lakhs and the balance for higher amount Applicants. The Issue comprises a Net Issue to Public of 11,68,000 Equity Shares of Rs. 10 each ("the Net Issue"), and a reservation of 62,400 Equity Shares of Rs. 10 each for subscription by the designated Market Maker ("the Market Maker Reservation Portion"). The Issue and the Net Issue will constitute 26.40% and 25.06%, respectively of the Post Issue Paid-up Equity Share Capital of the Company. Allocation to all categories shall be made on a proportionate basis subject to valid Applications received at or above the Issue Price. Under subscription, if any, in any of the categories, would be allowed to be met with spill-over from any of the other categories or a combination of categories at the discretion of our Company in consultation with the Lead Manager and Designated Stock Exchange. Such inter-se spill over, if any, would be affected in accordance with applicable laws, rules, regulations and guidelines. All Investors shall participate in this Issue only through APPLICATION SUPPORTED BY BLOCKED AMOUNT ("ASBA") process by providing the details of their respective bank accounts in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the "SCSBs").

SUBSCRIPTION DETAILS

The issue received 126 applications for 13,32,800 equity shares (including reserved portion of Market Maker) resulting in 1.08 times subscriptions. Out of the same, 7 application of aggregating to 11,200 equity shares were not banked. Hence 119 applications for 13,21,600 equity shares (including reserved portion of Market Maker) resulting 1.07 times subscriptions was considered. The details of the applications received in the Issue (before technical rejections) are as follows:

Detail of the Applications Received (Before and after Technical Rejection)

In the event of over subscription, the allotment will be made on a proportionate basis in marketable lots. There was over subscription of 5,29,600 Equity Shares in Non Retail Category. The Basis of Allotment was finalized with the Designated Stock Exchange - NSE on 17th October, 2018

The Board of Directors of the Company at its meeting held on 19th October, 2018 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. NSE and has authorized the corporate action for the transfer of the Equity Shares to various successful applicants. The allotment advice cum refund intimation will be dispatched to the address of the Applicants as registered with the depositories. Further, the instructions to Self Certified Syndicate Banks being processed on or before 22 October 2018. In case the same is not received within 10 days, investors may contact at the address given below. 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. The Company is taking steps to get the Equity Shares admitted for trading on the Emerge Platform of National Stock Exchange of India Limited within Six working days from the date of the closure of the Issue. The Trading is proposed to be commenced on or before 23rd October, 2018 subject to receipt of listing and trading approvals from NSE.

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issue. Cameo Corporate Services Limited. www.cameoindia.com. All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/ Sole applicants, serial number of the Application Form, number of shares applied for and Bank Branch where the application had been lodged and payment details at the address of the Registrar given below: