kiri dyes IPO Basis of Allotment

(This is only advertisement for information purpose and not a prospectus announcement)

KIRI DYES AND CHEMICALS LIMITED

(The Company was incorporated on May 14,1998 as Kiri Dyes and Chemicals Private Limited at Ahmedabad, Gujarat under the Companies Act, 1956 and was converted into a public limited company vide fresh certificate of incorporation dated May 3, 2006 issued by the Registrar of Companies, Gujarat, Dadra and Nagar Haveli located at Ahmedabad. The corporate identity number is U24231G J998PLC034094)
Registered Office: 7th floor, Hasubhai Chambers, Opp. Town Hall, Ellis Bridge, Ahmedabad - 380 006
(At the time of incorporation, the registered office of the company was situated at 53, Manekbaug Society, S M Road, Ambawadi, Ahmedabad - 380 015. W.e.f. February 1, 2007, the registered office was shifted to the present address)
Tel: +91-79-2657 4371, Fax : +91-79-2657 4374, Website: www.kiridyes.com
Corporate Office : Plot No.299/1/A, Near Water Tank, Phase II, GIDC, Vatva, Ahmedabad - 382 445
Tel: +91-79 -25894477, 2583 5297, Fax : +91-79-2583 4960, Email: ipo@kiridyes.com
Company Secretary and Compliance Officer : Mr.Suresh Gondalia

BASIS OF ALLOTMENT

The Issue was being made through a 100% Book Building Process wherein upto 50% of the issue shall be allocated on proportionate basis to Qualified Institutional Buyers ('QIBs'), (including 5% of the QIB that would be specifically reserved for Mutual Funds) Further, not less than 15% of the issue shall be available for allocation on a proportionate basis to non Institutional Bidders and not less than 35% of the issue shall be available for allocation on proportionate basis to Retail Individual bidders, subject to valid bids being received at or above the issue price.
The Issue has received 7745 applications for 5070915 equity shares resulting in 1.35 times subscription. The details of the applications received in the Issue from Qualified Institutional Bidders, Non-Institutional and Retail Individual bidders are as under (Before technical rejections):

Final Demand
The summary of the final demand at various price levels as per the electronic book is given below.

The Basis of Allocation was finalized in consultation with The Bombay Stock Exchange Limited ('BSE') on April 11, 2008.
The board of directors of the company at its meeting held on April 11, 2008 approved the basis of allocation of equity shares in the issue and allotted equity shares to various successful applicants.

A. Allocation to Retail Individual Bidders
(After technical rejection)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at or above the Issue Price of Rs.150/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 2.19 times. After adjusting under subscription from the QIB category, a total of 1692338 shares (including 53 shares allotted due to rounding off.) were allotted to 7527 applicants in this category, due to which the subscription ratio reduced to 1.7 times. The category-wise details of the basis of allocation are as under:

B. Allocation to Non Institutional Bidders
(after technical rejections)
The Basis of Allocation to the Non institutional bidders, who have bid at or above the Issue Price of Rs 150/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 1.17 times. After adjusting under subscription from the QIB category, a total of 659880 shares were allotted to 27 applicants on full and firm basis in this category, due to which the subscription ratio reduced to 1 time.

C. Allocation to Qualified Institutional Buyers
Allocation to QIBs has been done on full and firm basis in consultation with BSE. The under subscription under this category of  477165 shares were added to Retail and Non Institutional categories.. The details of shares allocated in this category are as under:

The CAN cum Refund Orders, Intimation regarding Refund through electronic mode and allotment advice and notices are 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 equity shares allocated to the 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 Bombay Stock Exchange Limited and National Stock Exchange of India Limited within seven working days from the date of approval of the basis of allocation.

INVESTORS PLEASE NOTE
These details of the allocation / allotment made are hosted on the website of Registrars to the Issue, Cameo Corporate Services Limited at www.cameoindia.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:

CAMEO CORPORATE SERVICES LIMITED
Unit: Kiri Dyes and Chemicals Limited 'Subramanian Building', No. 1, Club House Road, Chennai 600 002,.
Tel:+91 44 2846 0390/1989/0014/0015/1092/1098, Fax:+91442846 0129
Email: investor@cameoindia.com;Website: www.cameoindia.com
Contact Person: Mr. R D Ramasamy

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 KIRI DYES AND CHEMICALS LIMITED.