Raj Oil Mills IPO Basis of Allotment

RAJ OIL MILLS LIMITED

(Incorporated as Raj Oil Mills Limited on October 17, 2001 in Mumbai under the Companies Act, 1956 vide Registration no. 11-133714 (CIN: U151424MH2001PLC133714) and received certificate of Commencement of Business on November 6,2001.)
Registered Office: 224 - 230, Bellasis Road, Mumbai, - 400008, Maharashtra, India. Tel. No. +91 22 2302 1996-98 Fax No. +91 22 2301 5605, Contact Person: Mr Alok Desai, Company Secretary and Compliance Officer, E-mail: ipo@rajoilmillsltd.com, Website: www.rajoilmillsltd.com

The Issue is being made through the 100% Book Building Process wherein upto 50% of the Net Issue to the public was to be allocated on a proportionate basis to Qualified Institutional Buyers ('QIBs') (including 5% of the QIB portion that would be specifically reserved for Mutual Funds). Further, not less than 15% of the Net Issue was to be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue 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.
Our Company wishes to thank all the Investors for their response to the Public Issue which opened for subscription on July 20,2009 and closed on July 23,2009. The Issue received 7,188 applications for 1,10,53,470 Equity Shares (after cheque return) resulting in 1.1635 times subscription. The details of the applications received in the Issue from QIBs, Non-Institutional Bidders and Retail Individual Bidders categories are as under: (Before Technical & Multiple Rejections)

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 - Bombay Stock Exchange Limited ('BSE') on Monday, August 03,2009. Details of valid applications received and allotment done are as under:

A) Allocation to Retail Investors (After Technical Rejections)

The Basis of Allotment to the Retail Individual Bidders, who bid at the cut-off price or at the Issue Price of Rs. 120/- per Equity Share, was finalized in consultation with the BSE. The Company received 6,744 valid applications for 21,23,700 Equity Shares in this category resulting in 0.6387 times subscription. After taking into consideration spillover of 8,16,900 Equity Shares from QIB category, the total number of Equity Shares allotted in this category is 21,23,700 which amounts to 0.5127 times subscription. The category wise details of the Basis of Allotment are given below.

B) Allocation to Non Institutional Bidders (After Technical Rejections)
The Basis of Allotmentto the Non Institutional Bidders, who bid at the Issue Price of Rs. 120 per Equity Share, was finalized in consultation with the BSE. The Company received 78 valid applications for 52,95,350 Equity Shares in this category resulting in 3.7160 times subscription. After taking into consideration spillover of 3,50,100 Equity Shares from QIB category and 20,18,200 Equity Shares from Retail category, the total number of Equity Shares allotted in this category is 37,93,308 Equity Shares and this amounts to 1.3959 times subscription. The category wise details of the Basis of Allotment are given below:

C) Allocation to QIBs
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 (237500 Equity Shares). However due to under subscription in the said category, full and firm allotment have been made in the QIB. category.

The IPO Committee of the Board at a meeting held in Mumbai, on August 04,2009 approved the Basis of Allotment of Equity Shares in the issue and recommended the allotment of Equity Shares to successful applicants.

The CAN-cum-Refund Orders and ECS/RTGS Intimation has been dispatched to the address 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 the allocation will also be available on the website of the Registrar to the Issue, Bigshare Service Private Limited, at http://www.bigshareonline.com All future correspondence in this 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-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:

Bigshare Services Private Limited
E-2,Ansa Industrial Estate, SakiVihar Road, Sakinaka,Andheri[E],Mumbai-400072
Phone: (91-22)4043 0200; Fax: (91-22) 2847 5207, Email:iporaj@bigshareonline.com
Website: www.bigshareonline.com, Contact Person: Mr. Ashok Shetty

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 RAJ OIL MILLS LIMITED.