Kolte Patil Developers IPO Basis of Allotment

KOLTE-PATIL DEVELOPERS LIMITED

(Our Company was originally Incorporated as a private limited company In the name of Kotte-Patil Developers Private Limited on November 25,1991 in Jalgaon under the Companies Act, 1956 at Maharashtra with Registration No. 11-64117 . The Company was subsequently converted into a public limited company under the name Koite-Patil Developers Limited on April 1,1995.)
Registered and Corporate Office: 2nd Floor, City Point, Dhole Patil Road, Pune - 411001, Maharashtra.
Tel. No. +91 20 66226500 Fax No. +91 20 66226511
website: www.koltepatil.com E-mail: investorrelation@koltepatil.com
Contact Person: Mr. Vinod Patil, Company Secretary & Compliance Officer,
E-mail: investorrelation@koltepatil.com, website: www.koltepatil.com
(For details of the changes in the address of the registered office and change of name our company, please refer to page 67 & page 68 of the Prospectus.)

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 19,000,836 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH AT A PRICE OF RS.145/- PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 135/- PER EQUITY SHARE) FOR CASH AGGREGATING TO RS. 2,755.12 MILLION (THE "ISSUE") THE ISSUE COMPRISES A NET ISSUE TO THE PUBLIC OF UP T018,812,709 EQUITY SHARES (THE NET ISSUE") AND A RESERVATION OF UP T0188,127 EQUITY SHARES FOR SUBSCRIPTION BY EMPLOYEES (AS DEFINED HEREIN) (THE "EMPLOYEE RESERVATION PORTION"), AT THE ISSUE PRICE.
THE ISSUE WILL CONSTITUTE 25.25 % OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF OUR COMPANY AND THE NET ISSUE WILL CONSTITUTE 25.00% OF THE POST ISSUE PAID-UP EQUITY CAPITAL OF OUR COMPANY.
THE ISSUE PRICE OF THE EQUITY SHARES IS RS.145 PER EQUITY SHARE WHICH IS 14.5 TIMES THE FACE VALUE OF THE EQUITY SHARES.

The Issue was made through the 100% Book Building Process wherein not more than 50% of the Net Issue to the public was to be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs") out of which 5% was available for allocation on proportionate basis to Mutual Funds. Further, not less than 15% of the Net Issue to the public was to be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue to the public was to be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price.
The Issue opened for subscription on November 19, 2007 and closed on November 22, 2007. The issue received 2,41,227 applications for 86,61,67,940 Equity Shares resulting in 45.59 times subscription.
As advised by SEBI, the Company had published a public notice dated November 25,2007 in newspapers and the individual intimation letters dated November 25, 2007 was dispatched to all the applicants (including QIBs) by November 29, 2007. The Company had given an option to all the applicants (including QIBs) to withdraw their applications, if they wish to do so, within a period of ten (10) days from the date of the public notice. The last date for receipt of withdrawal was up to 5.30 p.m. on December 4, 2007. In view of the above, the Registrar has received requests for withdrawal of 4,668 applications for 18,358,710 shares. After considering the above withdrawals, the Issue remained oversubscribed 44.62 times.
The Basis of Allotment for all categories namely Retail Individual Investors, Non Institutional Investors and Qualified Institutional Buyers was approved by the National Stock Exchange on Wednesday, December 05,2007. The Board of Director of the Company at its meeting held at Mumbai on December 06, 2007, allotted the Equity Shares to successful applicants.
The details of the applications received in the Issue from QIBs, Non-Institutional Bidders, Retail Individual Bidders and Employee Bidders (After withdrawals and before Technical Rejections)

Note: 2141 excess equity shares have been allotted due to rounding off of which 1040 equity shares have been allotted in the 'Retail Individual Bidders' Category and balance 1,101 equity shares have been allotted in the Non Institutional Bidders' Category.

Final Demand
The final demand at different bid prices is as under:

The Basis of Allotment was finalised in consultation with the Designated Stock Exchange - National Stock Exchange of India Limited ("NSF) on Wednesday, December 05, 2007.

A) Allocation to Retail Investors (After Technical Rejections)
The Basis of Allotment to the Retail Individual Bidders, who have bid at the cut-off price or at the Issue Price of Rs. 145 per Equity Share, have been considered while preparing the basis of allotment. The Company received 230396 valid applications for 101,259,920 Equity Shares in this category resulting in 15.38 times subscription. The total number of Equity Shares allotted in this category is 6,585,488. The category-wise details of the Bass of Allotment are given below (Sample)

B) Allocation to Non Institutional Bidders (After Technical Rejections)
The Basis of Allotment to the Non Institutional Bidders, who have bid at the Issue Price of Rs.145 per Equity Share, have been considered while preparing the basis of allotment. The Company received 625 valid applications for 186,056,520 Equity Shares in this category resulting in 65.93 times subscription. The total number of Equity Shares allotted in this category is 2,823,007. The category-wise details of the Basis of Allotment are given below (Sample)

C) Allocation to Employees
The Basis of Allotment to the Employees Bidders, who bid at the cut-off price or at the Issue Price of Rs. 145 per Equity Share, have been considered while preparing the basis of allotment. The Company received 216 valid applications for 571,040 Equity Shares in this category resulting in 3.04 times subscription. The total number of Equity Shares allotted In this category is 188,127. The category-wise details of the Basis of Allotment are given below: (Sample)

D) Allocation to QIBs
The total number of Equity Share allotted in this category are Equity shares (50% of total Equity Share allotted). Allocation to QIBs was done on a proportionate basis. As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available 470,318 Equity Shares. Other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining 8,936,037 Equity Shares. The category was over subscribed 59.30 times. The Category-wise details of the Basis of allotment are as under:

The IPO Committee of the Board at a meeting held in Mumbai, on December 06,2007 adopted the Basis of Allotment of Equity Shares in the issue, approved by NSE and allotted Equity shares to successful applicants.

The Refund Orders / allotment advice in respect of refunds due to applicants are being dispatched to the addresses of the Investors as registered with the depositories, in case the same are not received within ten days, Investors may contact the Registrar to the Issue 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 the 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 National Stock Exchange of India Limited and Bombay Stock Exchange Limited within seven working days from the date of approval of Basis of Allotment.

INVESTORS PLEASE NOTE

These details of tiie allocation will also be available on the website of the Registrar to the issue, Bigshare Services Private Limited, at http:// www.bigshareonline.com

All future correspondence in Ms regard may kindly be addressed to the Registrar to the Issue quoting the full name of the First/Sole applicants, Serial number of the Bid-curn-Application Form, number of shares bid for, name of the Member of the Syndicate and piece where the bid was submitted and payment details at the address given below:

Bigshare Services Private Limited
E-2,Ansa industrial Estate, Saki Vihar Road, Sakinaka,
Andheri [E], Mumbai - 400 072, India.
Phone; (91-22) 4043 0200; Fax; (91-22) 2647 5207
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com

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 KOLTE PATIL DEVELOPERS LIMITED.

The information contained herein is not for publication or distribution in or into the United States of America. These materials are not an offer of securities for saLe in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration under that Act or an available exemption from it. There will be no public offering of the securities in the United States.