Nureca limited IPO Basis of Allotment

THIS IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE, PURCHASE OR SUBSCRIBE TO SECURITIES AND IS NOT A PROSPECTUS ANNOUNCEMENT NOT FOR RELEASE,PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY, OUTSIOE INDIA

Nureca Limited ("Company" or "Issuer") was incorporated as 'Nureca Private Limited', as a private limited company, under the Companies Act, 2013 on November 2, 2016 and a certificate of incorporation was issued by Registrar of Companies, Central Registration Centre, at Delhi The registered office of our Company was changed from Delhi to Mumbai, Maharashtra, pursuant to certificate of registration of regional director order dated January 8, 2019, for change of state issued by the Registrar of Companies. Maharashtra at Mumbai ("RoC") with effect from February 8, 2019. Pursuant to conversion into a public limited company pursuant to a special resolution passed in the extra ordinary general meeting of the shareholders of our Company held on June 19, 2020. the name of our Company was changed to our present name 'Nureca Limited' and a fresh certificate of incorporation was issued by the RoC on July 8, 2020. For details of change in the name and registered office of our Company, see 'History and Certain Corporate Matters' on page 120 of the Prospectus dated February 22, 2021 ("Prospectus") filed with the RoC and thereafter with the Securities and Exchange Board of India ("SEBI"), BSE Limited ("BSE") and National Stock Exchange of India Limited ( "NSE" and together with BSE, the "Stock Exchanges" ).

INITIAL PUBLIC OFFERING OF UP TO 25,00,175 EQUITY SHARES OF FACE VALUE Rs. 10 EACH ("EQUITY SHARES") OF OUR COMPANY FOR CASH AT A PRICE OF Rs. 400 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs. 390 PER EQUITY SHARE) ("ISSUE PRICE"), AGGREGATING TO Rs. 1,000.00 MILLION ("ISSUE"). THE ISSUE INCLUDES A RESERVATION OF 26,315* EQUITY SHARES AGGREGATING TO Rs. 10.00 MILLION* FOR PURCHASE BY ELIGIBLE EMPLOYEES ("THE EMPLOYEE RESERVATION PORTION"). THE ISSUE LESS THE EMPLOYEE RESERVATION PORTION IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE CONSTITUTES 25.00% AND 24.74%, RESPECTIVELY OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.

*EMPLOYEE DISCOUNT OF Rs. 20 PER EQUITY SHARE TO THE ISSUE PRICE WAS OFFERED TO ELIGIBLE EMPLOYEES BIDDING IN THE EMPLOYEE RESERVATION PORTION.

The Issue was made through Book Building Process in terms of Rule 19(2)(b) of the Securities Contracts Regulation Rules. 1957, as amended ("SCRR"), read with Regulation 31 of the SEBI ICDR Regulations and was made through Book Building Process, in compliance with Regulation 6(2) of the SEBI ICDR Regulations, wherein at least 75% of the Net Issue was made available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs") (the "QIB Portion"). Our Company in consultation with the BRLM has allocated 60% of the QIB Portion to Anchor Investors on a discretionary basis ("Anchor Investor Portion"). One-third of the Anchor Investor Portion were reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion was made available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Issue Price. If at least 75% of the Net Issue was not being Allotted to QIBs, all the application monies were refunded unblocked forthwith Further, not more than 15% of the Net Issue was made available for allocation on a proportionate basis to Non-Institutional Bidders and not more than 10% of the Net Issue was made available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Issue Price. Further, Equity Shares were offered for allocation and allotment on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Issue Price. All potential Bidders (except Anchor Investors) were required to mandatory utilise the Application Supported by Blocked Amount ("ASBA") process providing details of their respective ASBA accounts, and UPI ID (in case of RIBs) if applicable, in which the corresponding Bid Amounts were blocked by the SCSBs or under the UPI Mechanism, as applicable. Anchor Investors were permitted to participate in the Issue through the ASBA process. For details, see "Issue Procedure" on page 270 of the Prospectus.

The bidding for Anchor Investors opened and dosed on February 12, 2021. The company received two applications from 2 anchor investors for 1,113,770 Equity Shares. The Anchor Investor Allocation Price was finalized at 7400 per Equity Share, A total of 1,113,750 Equity Shares were allocated under the Anchor Investor Portion aggregating to Rs. 445.50 million The Issue received 807,530 applications for 51,157,295 Equity Shares (prior to technical rejections) resulting in 20.4522 times subscription, The details of the applications received in the Issue from various categories are as under (before technical rejections):

Final Demand

A summary of the final demand as at different Bid prices is as under

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being the BSE on February 23, 2021.

A. Allotment to Retail Individual Bidders (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. 400 per Equity Share, was finalized in consultation with BSE. This category has been subscribed to the extent of 139.32 times. The total number of Equity Shares Allotted in Retail Portion is 249,667 Equity Shares (includes under subscribed portion of 2,167 Equity Shares spilled over from Employee Category) to 7,133 successful Retail Bidders. The category-wise details of the Basis of Allotment are as under:

B. Allotment 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. 400 per Equity Share was finalized in consultation with BSE. The Non-Institutional Portion has been subscribed to the extent of 29.93 times. The total number of Equity Shares Allotted in this category is 374,502 Equity Shares (includes under subscribed portion of 3,252 Equity Shares spilled over from Employee Category) to 1,257 successful Non-Institutional Bidders. The category-wise details of the Basis of Allotment are as under (Sample):

C. Allotment under Employee Reservation Portion (after technical rejections)

The Basis of Allotment to the Eligible Employees, who have Bid at the Cut-Off price oral the Issue Price of Rs. 400 per Equity Share (Employee Discount of Rs. 20 per Equity Share was offered to the Eligible Employees applying under Employee Reservation Portion), was finalized m consultation with BSE This category has been subscribed to the extent of 0.13 times. The total number of Equity Shares allotted in this category is 3,500 Equity Shares to 20 successful applicants. The un-subscribed portion of 22,815 Equity Shares was adjusted for discount of Rs. 20 per Equity Share resulting in less allocation of 1,140 Equity Shares. Hence after the adjustment 21,675 Equity Shares was spilled over to QIB, Nil and Retail Category in the ratio of 75:15:10 respectively at Issue Price of Rs. 400 per Equity Share.

The allotment has been made to all the Eligible Employee in the Employee Category and the maximum Bid Amount considered for allotment under the Employee Reservation Portion by an Eligible Employee has exceeded 12,00,000 on a net basis. The category-wise details of the Basis of Allotment are as under: (Sample)

D Allotment to QIBs (Excluding Anchor Investors) (After Technical Rejections)

Allotment to QIBs. who have Bid at the Issue Price of Rs. 400 per Equity Share, has been done on a proportionate basis in consultation with BSE. This category has been subscribed to the extent of 3.16 tomes of QIB Portion. As per the SEBIICDR Regulations, Mutual Funds were Allotted 5% of the Equity Shares of Net QIB Portion available i e. 37,938 Equity Shares (includes under subscribed portion of 813 Equity Shares spilled over from Employee Category) and other QIBs including of Mutual Funds were allotted the remaining available Equity Shares i .e. 720,816 Equity Shares on a proportionate basis. The total number of Equity Shares Allotted in the QIB Portion is 1,872,506 Equity Shares (includes under subscribed portion of 16,256 Equity Shares spilled over from Employee Category), which were allotted to 16 successful QIB Bidders. The category-wise details of the Basis of Allotment are as under:

E. Allotment to Anchor Investors

The Company, in consultation with the BRLM, have allocated 1,113,750 Equity Shares to 2 Anchor Investors (through 2 Applications) at the Anchor Investor Issue Price of Rs. 400 per Equity Share in accordance with the SEBI ICDR Regulations. This represents 60% of the QIB Portion.

The IPO Committee of our Company on February 23, 2021 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has allotted the Equity Shares to various successful Bidders. The Allotment Advice cum Refund Intimation are being dispatched to the address of the investors as registered with the depositories. Further, the instructions to the SCSBs for unblocking of funds, transfer to Public Issue Account have been issued on February 23, 2021 and payment to non-Syndicate brokers have been issued on February 23, 2021. In case the same is not received within ten days, investors may contact the Registrar to the Issue at the address given below. The Equity Shares Allotted to the successful Allottees have been uploaded on February 23, 2021 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned The Company has filed the Listing application with BSE and NSE on February 23, 2021. The Company has received listing and trading approvals from BSE and NSE and the trading will commence on February 25, 2021.

All capitalized terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus.

INVESTORS PLEASE NOTE

The details of the allotment made have been hosted on the website of the Registrar to the Issue. Link Intime India Private Limited at www.linkintime.co.in

All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the first/ sole Bidder, Bid cum Application Form number, Bidder DP ID, Client ID, PAN, date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares applied for, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder, and a copy of the Acknowledgment Slip received from the Designated Intermediary at the address given below:

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF NURECA LIMITED.

NURECA LIMITED has filed the Prospectus with RoC on February 22, 2021 and thereafter with SEBI and the Stock Exchanges. The Prospectus is available on the websites of the SEBI, BSE and NSE at www.sebi.gov.in, www.bseindia.com and www.nseindia.com, respectively, and is available on the website of the BRLM, i.e, ITI Capital Limited at www.iticapital.in. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, please see "Risk Factors" beginning on page 25 of the Prospectus.

The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws in the United States, and unless so registered, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. Accordingly, the Equity Shares are being offered and sold outside the United States in offshore transactions in reliance on Regulation S and applicable laws of the jurisdictions where such offers and sales are made. There will be no public offering in the United States.