Religare IPO Basis of Allotment

Religare Enterprises Limited

(The Company was incorporated as Vajreshwari Cosmetics Private limited on January 30,1984. The name of the Company was subsequent changed to 'Religare Enterprises Private Limited' pursuant to a special resolution of the members of the Company dated January 10,2006. The fresh certificate of incorporation consequent to the change of name was granted to the Company on January 31,2006, by the Registrar of Companies, Punjab, Himachal Pradesh & Chandigarh at Jalandhar. The status was subsequently changed to a public limited company and the word 'private' has been deleted from the nameof the Company by a special resolution of the members of the Company passed at the annual general meeting held on July 14,2006, The fresh certificate of incorporation consequent to change of name was granted to the Company on August 11,2006 by the Registrar of Companies, NCT at New Delhi.)
Registered and Corporate Office: 19, Nehru Place, New Delhi - 110 019, India, Telephone: +91 11 3081 5100 / 6655 2200; Facsimile: +911130815288; Company Secretary and Compliance Officer: Mr. Ravi Batra; Email: investorservices@religare.in, Website: www.religare.in

The Equity Shares of the Company are proposed to be listed on the National Stock Exchange of India Limited ('NSE') and Bombay Stock Exchange Limited ('BSE') and trading is expected to commence on or about November 21, 2007.
The Issue made through the 100% Book Building Process wherein at least 60% of the Issue was to be allocated on a proportionate basis to Qualified Institutional Buyers ('QIBs') (including 5% of the QIB portion that was to be specifically allotted to mutual funds), further, up to 10% of the Issue was made available for allocation on a proportionate basis to Non-lnstitutional Bidders and up to 30% of the Issue was made available for allocation on a proportionate basis to Retail Bidders, subject to valid bids being received at or above the Issue Price. The Issue received 6,42,513 applications for 120,76,51,396 equity shares resulting in 159.40 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
Final demand at different bid prices is as under:

The Basis of Allocation was finalized in consultation with the Designated Stock Exchange, the NSE on 13th November, 2007.
The final demand at different bid prices and allocation of shares in following 3 categories is as under:

A. Allocation to Retail individual Investors (After Technical Rejections)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs.185/- per Equity Share, was finalized in consultation with the NSE. The category was over subscribed 89.137661 times. The total number of Equity Shares Allotted in this category is 22,72,831 Equity Shares to 64,938 successful applicants. The category-wise details of the Basis of Allocation are as under:

* One additional Equity Share was alloted to one amongst the 44345 successful! allottees on a random basis.

B. Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to the Non institutional investors, who have bid at the Issue Price of Rs.185/- per Equity Share, was finalized in consultation with the NSE. The category was subscribed 209.212925 times. The total number of Equity Shares Allotted in this category is 7,57,609 Equity Shares to 788 successful applicants. A sample of the category-wise details of the Basis of Allocation are as under:

C. Allocation to QIBs (After Technical Rejections)
Allocation to QIBs has been done on a proportionate basis in consultation with the NSE. As per the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000, Mutual Funds were initially Allotted 5% of the quantum of Equity Shares available (2,27,284) and other QIBs and unsatisfied demands of Mutual Funds were Allotted the remaining available Equity Shares (43,18,378) on proportionate basis.

The Board of Directors of the Company at their meeting held at Hyderabad on 14th November, 2007 have approved the basis of allocation of Equity Shares pursuant to the Issue and have allotted the Equity Shares to various successful applicants. The CAN/Refund Orders, intimation regarding refunds through electronic mode (ECS, RTGS, NEFT or direct credit) and allotment advice and notices have been dispatched to the address of the investors as registered with the depositories by November 16,2007. 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 Equity Shares allocated to successful applicants have been credited to their beneficiary accounts subject to validation of the account details with the depositories concerned by November 16,2007. The listing applications has been filed with the NSE and the BSE on November 16,2007, and the Company is taking steps to get the Equity Shares admitted for trading on the BSE and the NSE within seven working days from the date of approval of the basis of allocation.

INVESTORS PLEASE NOTE
These details of the allocation made would be hosted on the website of the Registrar to the Issue, Karvy Computershare Private Limited at http://kcpl.karvy.com
All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/ Sole applicant, Serial number of the Bid-cum-Application form, number of Equity 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:

KARVY COMPUTERSHARE PRIVATE UMITED
Unit: Religare, Plot No. 17 to 24, Vithalrao Nagar, Hitech City Road, Madhapur
Hyderabad-500081, Fax: 040-23420814
Email: einward.ris@Karvy.com
TOLL FREE - HELPLINE NUMBER 1 -800-3454001

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 RELIGARE ENTERPRISES LIMITED.