IVR Prime IPO Basis of Allotment

IVR Prime Urban Developers Limited

(Incorporated as IVR Realtors Limited on June 28,1996. The name of the company changed to IVR-Prime Urban Developers Limited on January 16, 2001. Subsequently, the name was changed to IVR Prime Urban Developers Limited
on June 12, 2006)
Regd. Office: M-22/3RT, Vijayanagar Colony, Hyderabad 500 057.
Contact Person: S. Srinivas Rao Tel:+91-40- 2349 5000, Fax:+91-40- 2349 5215.
email: investors@ivrprime.com: Website: www.ivrprime.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 1,41,50,000 EQUITY SHARES OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 550/- PER EQUITY- SHARE (INCLUDING SHARE PREMIUM OF RS. 540/- PER EQUITY SHARE) AGGREGATING TO RS. 7,782.50 MILLION (REFERRED TO AS 'THE ISSUE') BY IVR PRIME URBAN DEVELOPERS LIMITED (THE 'COMPANY' OR THE 'ISSUER'). THE ISSUE COMPRISED A NET ISSUE TO THE PUBLIC OF 14,000,000 SHARES AND RESERVATION OF 1,50,000 SHARES FOR SUBSCRIPTION BY EMPLOYEES. THE ISSUE CONSTITUTES 22.06% OF THE FULLY DILUTED POST ISSUE CAPITAL OF THE COMPANY. THE NET ISSUE CONSTITUTES 21.82% OF THE FULLY DILUTED POST ISSUE CAPITAL OF THE COMPANY.

THE FACE VALUE PER EQUITY SHARE IS RS. 10/-.
THE ISSUE PRICE PER EQUITY SHARE IS RS. 550/- AND IT IS 55 TIMES THE FACE VALUE.

The Issue made through the 100% Book Building Process wherein at least 60% of the net Issue was to be 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 10% of the net Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and up to 30% of the net Issue shall be available for allocation on a proportionate basis to Retail Bidders, subject to valid bids being received at or above the Issue Price.

The Issue received 85745 applications for 7,77,02,563 equity shares resulting in 5.49 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 National Stock Exchange of India Limited ('NSE') on 7^{th August, 2007.}

A. Allocation to Employees (After Technical Rejections)
The Basis of Allocation to the Employees, who have bid at cut-off or at and above the Issue Price of Rs. 550 per Equity Share, was finalized in consultation with NSE. The category was subscribed to the extent of 0.7173 times. Hence FULL and FIRM allotments have been made against all valid applications. The total number of shares allottedin this category is 1,07,600 Equity Shares to 86 successful applicants. The unsubscribed portion of 42,400 equity shares has been added to QIBs, Retail and Non-Institutional categories. 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 the Retail Individual Investors, who have bid at cut-off or at and above the Issue Price of Rs. 550 per Equity Share, was finalized in consultation with NSE. The category was subscribed to the extent of 1.3153 times. The total number of shares allotted in this category is 42,00,390 Equity Shares (including 390 equity shares spilled over from employees category) to 78348 successful applicants. The category-wise details of the Basis of Allocation (Sample) are as under:

C. Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to the Non-Institutional Investors, who have bid at cut-off or at and above the Issue Price of Rs. 550 per Equity Share, was finalized in consultation with NSE. The category was subscribed to the extent of 1.0511 times. The total number of shares allotted in this category is 1400390 Equity Shares (including 390 equity shares spilled over from employee category) to 188 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 (4,22,081) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (80,19,539) on proportionate basis.

The Committee of Directors of the company at it's meeting held at Hyderabad on 8th August, 2007 has approved the basis of allocation of shares and has allotted the shares to various successful applicants.
The CAN-cum-Refund Orders, allotment advice, intimation regarding refunds through electronic mode (ECS, RTGS, NEFT or Direct Credit) and notices (where applicable) are in the process of being 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 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 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 Bombay Stock Exchange Limited and National Stock Exchange of India Limited within seven working days from the date of approval of the basis of allotment.

INVESTORS PLEASE NOTE
This details of the allocation made would be hosted on the website of Registrars to the Issue, Karvy Computershare Private Limited at www.karvy.com or http://kcpl.karvy.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:

Karvy Computershare Private Limited
Unit: IVR Prime
Plot No. 17 to 24, Vitharao Nagar, Hitech City Road, Madhapur
Hyderabad - 500081, Fax: 040-23420814
Email: einward.ris@karvy.com

TOLL FREE - HELPLINE NUMBER
1-800-3454001

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 IVR PRIME URBAN DEVELOPERS LIMITED.