Resurgere Mines & Minerals IPO Basis of Allotment

RESURGERE MINES & MINERALS INDIA LIMITED

(We were originally incorporated as 'Exfin Shipping (India) Private Limited'' on March 24, 1987 under the Companies Act, 1956. For details of change in our Company's name and registered office, see the section 'History and Certain Corporate Matters' beginning on page 93 of Prospectus.)

Registered Office: 156, Maker Chambers - III, Nariman Point, Mumbai - 400 021, Maharashtra, India.
Company Secretary and Compliance Officer: Mr. Rakesh Gupta
Telephone: +91 22 6658 2500 Fax: +91 22 6658 2511 Email: cosec@resurgere.in
Website: www.resurgere.in

BASIS OF ALLOTMENT

The Issue was made through 100% Book Building Process wherein atleast 60% 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 10% of the Issue was made available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 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. Further upto 2,50,000 equity shares was made available for allocation on a proportionate basis to eligible employees, subject to valid bids being received at or above the issue price.

The Issue received 4176 applications for 5057080 equity shares resulting in 1.1364 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, 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 National Stock Exchange of India Limited on 26th August, 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. 270/- per Equity Share was finalized in consultation with NSE . The category was over subscribed 1.000400 times. The total number of Equity Shares allotted in this category is 250000 Equity Shares to 17 successful applicants. The category wise details of the Basis of Allocation 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. 270/- per Equity Share, was finalized in consultation with NSE . The category was under subscribed 0.343984 times. The total number of equity shares allotted in this category is 433420 to 3993 successful applicants and The Unsubscribed portion is spilled over to Non Institutional Investors category (546580 Equity shares) and is spilled over to QIB category (280000 Equity Shares). 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 the Issue Price of Rs. 270/- per Equity Share, was finalized in consultation with NSE . The category was over subscribed 1.024540 times. The total number of Equity Shares allotted in this category is 966580 Equity Shares to 38 successful applicants including spill over from RETAIL Category (546580 Equity Shares). The category-wise details of Basis of Allocation are as under (Sample):

D. Allocation to QIBs
Allocation to QIBs has been done on a proportionate basis in consultation with NSE. As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available (1,40,000) including spill over from RETAIL CATEGORY (14,000 Equity Shares) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (26,60,000) including spill over from RETAIL CATEGORY (2,66,000) on proportionate basis

The Board of Directors of the company at it's Meeting held at Mumbai on August 26,2008 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 and allotment advice and 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 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 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 320, Fax: 91 22 2596 0329}
Email:rmmil.ipo@intimespectrum.com

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 RESURGERE MINES & MINERALS INDIA LIMITED.