Niraj Cement Structurals IPO Basis of Allotment

NIRAJ CEMENT STRUCTURALS LIMITED

(Company Identification Number: U26940MH1998PTC114307) (Originally incorporated in India as Niraj Cement Structurals Private Limited on April 1, 1998 under theCompanies Act, 1956 and converted to Public Limited Company
w.e.f. January 12,2006.)
Registered Office: Niraj House, Sunder Baug, Opp. Deonar Depot, Chembur, Mumbai - 400 088
Tel. No.: +91-22-2551 3750/3541; Fax No.: +91-22-2551 8736; Website: http://www.niraj.co.in; E-mail: info@niraj.co.in Contact Person & Compliance Officer: Mr. Soni Agarwal, General Manager - Finance

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 32,50,000 EQUITY SHARES OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 190 PER EQUITY SHARE AGGREGATING RS. 6175 LAKHS (HEREINAFTER REFERRRED TO AS 'THE ISSUE') BY NIRAJ CEMENT STRUCTURALS LIMITED (HEREINAFTER REFERRED TO AS 'NCSL' OR THE 'COMPANY' OR THE 'ISSUER'). THE ISSUE COMPRISES OF RESERVATION FOR ELIGIBLE EMPLOYESS OF 3,25,000 EQUITY SHARES OF RS. 10/- EACH, AT THE ISSUE PRICE AND NET ISSUE TO THE PUBLIC OF 29,25,000 EQUITY SHARES OF RS 10/- EACH (HEREINAFTER REFERRED TO AS THE 'NET ISSUE'). THE ISSUE WOULD CONSTITUTE 31.42% OF THE TOTAL POST ISSUE PAID-UP EQUITY CAPITAL OF THE COMPANY.
THE FACE VALUE PER EQUITY SHARE IS RS. 10/-. THE ISSUE PRICE PER EQUITY SHARE IS RS. 190 AND IT IS 19.0 TIMES THE FACE VALUE.

The Equity Shares of the Company are proposed to be listed on the Bombay Stock Exchange Ltd. (BSE) and trading is expected to commence on or about 19/6/2008.

The Issue was made through the 100% Book Building Process wherein upto 50% 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, 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 was available for allocation on a proportionate basis to Retail Bidders, subject to valid bids being received at or above the Issue Price. Further upto 3,25,000 equity shares was available for allocation on a proportionate basis to eligible employees, subject to valid bids being received at or above the issue price. Issue was Opened on May 26, 2008 and was Closed on May 30, 2008.

The Issue received 12078 applications for 3474060 equity shares resulting in 1.0689 times subscription. The details of the applications received in the Issue from 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 Bombay Stock Exchange Limited ('BSE') on 11th June, 2008

A. Allocation to Employees (After Technical Rejections)

The Basis of Allocation to the Employees, who have bid at cut-off or at the Issue Price of Rs. 190/- per Equity Share was finalized in consultation with BSE. The category was subscribed 0.003138 times. The total number of Equity Shares allotted in this category is 1020 Equity Shares to 2 successful applicants. The Unsubscribed portion (323980 shares) is spilled over to Retail Individual Investors category. 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 Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 190/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 1.059815 times. The total number of equity shares allotted in this category is 2837590 to 11822 successful applicants including Spill over from Employee Category (323980 Equity Shares), QIB Category (1462500) and HNI Category (27360) The category-wise details of Basis of Allocation are as under:

C. Allocation to Non Institutional Investors (After Technical Rejections)

The Basis of Allocation to Non Institutional Investors, who have bid at cut-off or at the Issue Price of Rs. 190/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 0.937641 times. The total number of equity shares allotted in this category is 438750 to 34 successful applicants.(Full and Firm) The Unsubscribed portion (27360 shares) is spilled over to Retail Individuals Investors. The category-wise details of Basis of Allocation are as under: (Sample).

The board of Directors at its Meeting held at Mumbai on June 12,2008 has approved the basis of allocation of shares of the issue and has allotted the shares to various successful applicants.

The CAN-cum-Refund Orders/allotment advice and call money notices have been 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 listing application have been filed with the BSE on 13/6/2008 and the company is taking steps to get the equity shares admitted for trading on the Bombay Stock Exchange Limited within seven working days from the date of approval of the basis of allocation.

INVESTORS PLEASE NOTE
This details of the allocation made would be hosted on the website of Registrars to the Issue, Intime Spectrum Registry Limited at www.intimespectrum.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:

INTIME SPECTRUM REGISTRY LIMITED
C-13, Pannalal Silk Mills Compound, LBS Marg, Bhandup West, Mumbai - 400 078.
_{Tel.91- 22 2596 0320; Fax: 91 22 2596 0329; Email: ncsl@intimespectrum.com
Unit. Njraj Cement Spectrum Limited - IPO}

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 NIRAJ CEMENT
STRUCTURALS  LIMITED.