Readymade Steel India IPO Basis of Allotment

READYMADE STEEL INDIA LIMITED

(Our Company was incorporated on March 21,2006 under the provisions of the Companies Act, 1956 as Readymade Steel India Private Limited in Maharashtra. Pursuant to a special resolution passed by the shareholders of our Company at the extra-ordinary general meeting held on July 21,2010 our Company was converted into a public limited company and consequently the name of our Company was changed to Readymade Steel India Limited. A fresh certificate of incorporation reflecting the new name was issued by the Registrar of Companies, Maharashtra on August 24,2010.The Corporate Identification Number of our Company is U27100MH2006PLC160602.

Registered Office: 203, Joshi Chambers, Ahmedabad Street, Carnac Bunder, Mumbai - 400 009. Tel. No: + 91 -022-67439360; Fax No: + 91 -022-67439360; E-mail: rms@readymadesteel.com; Website: www.readymadesteel.com;
Contact Person and Compliance Officer: Mr. Umakanta Das. GM- Finance & Company Secretary;
E-mail: ukdas@readymadesteel.com
PROMOTER: MR. ANIL AGRAWAL

BID/ISSUE OPENED ON JUNE 27, 2011, CLOSED ON JUNE 29, 2011
The Equity Shares of the Company are proposed to be listed on Bombay Stock Exchange Limited ('BSE') the trading is expected to commence on July 13,2011.

ISSUE PRICE: Rs. 108/- PER EQUITY SHARE OF FACE VALUE OF Rs.10/- EACH THE ISSUE PRICE IS 10.8 TIMES OF THE FACE VALUE

This Issue was made through a 100% Book Building Process wherein not more than 50% of the Issue was to be allocated to Qualified Institutional Buyers (QIBs) on a proportionate basis, subject to valid bids being received at or above the Issue Price. 5% of the QIB Portion was available for allocation on proportionate basis to Mutual Funds only and the remaining Net QIB portion was available for allocation on a proportionate basis to all Qualified Institutional Buyers, including Mutual Funds, subject to valid bids being received at or above Issue Price. Further, not less than 15% of the Issue was 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 Individual Bidders, subject to valid bids being received at or above the Issue Price.

The Issue received 4025 applications for 6283020 equity shares resulting in 1.95 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Individual Investor categories are as under: (Before technical rejections)

Final Demand
A summary of the final demand as per BSE and NSE as on the Bid/Issue Closing date at different bid prices is as under:

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being The Bombay Stock Exchange Limited ('BSE') on July 8,2011 The Board of Directors of the Company at its Meeting held at Mumbai on July 9,2011 allotted the Equity Shares to the successful applicants. Details of valid applications received and allotments done are as under:

A. Allotment to Retail Individual Investors including ASBA applications (After Technical Rejections)

The Basis of Allotment to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 108/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 2.24 times after considering spill-over from QIB and Non-Institutional Category Investors Category. As per the Prospectus, the spill over portion from QIB Category was 10,82,197 equity shares and 1,54,672 from Non Institutional Category. The total number of equity shares allotted in this category is 23,62,873 Equity Shares to 3674 successful applicants. There were 1183 applications for 15,30,900 equity shares under ASBA process. Out of the valid ASBA applications,6,67,211 equity shares were allotted to 1069 successful ASBA applicants.

The category-wise details of the Basis of Allotment are as under:

B. Allotment to Non Institutional Investors, Including ASBA applications (After Technical Rejections)

The basis of allotment to Non Institutional Investors, who have bid at the Issue Price of Rs. 108/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 0.836 times after considering spill-over from QIB Category. As per the Prospectus, the spill over portion from QIB Category was 4,63,799 equity shares. The total number of equity shares allotted in this category is 7,91,700 to 31 successful applicants. All the applicants in this category have been given firm allotment. There were 31 valid applications under ASBA process for 7,91,700_equity shares and were allotted in full.

C.AIIotmentto QIBs (AfterTechnical Rejections)

1 Valid application for 62580 shares were received against 1608576 quity shares reserved for this category resulting in subscription of 0.038 times. Under the QIB portion 5% was reserved for Mutual Funds. As no Mutual Funds applications were received in the issue, the entire Mutual Fund is allocated to all the other QIB's. However due to under subscription in the said category, full and firm allotment have been made in the QIB category. The under subscribed 1545996 shares from QIB category have been spilled over to Retail and Non Institutional category in the ratio of 70:30.

Dates of dispatch of Refund Orders, Credit to beneficiary Accounts, Refund instructions and Listing details

Refunds have been made through NECS and Direct credit, into the Bank Accounts of the applicants, as registered with the depositories. For other applicants Refund Orders have been dispatched to their address 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 company has filed listing application with BSE and trading in equity shares of the company is expected to commence on July 13,2011.

INVESTORS PLEASE NOTE

This details of the allotment made would be hosted on the website of Registrars to the Issue, Bigshare Services Private Limited at www.bigshareonline.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-applicationform, 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
SEBI Registration No: INR000001385
E/2, Ansa Industrial Estate, Saki Vihar Road, Sakinaka, Andheri (East), Mumbai - 400 072.
Tel No: +91 22 4043 0200, Fax No: +91 22 2847 5207
Website: www.bigshareonline.com, Email: ipo@bigshareonline.com