Shriram Properties IPO Basis of Allotment

Our Company was incorporated as Synectics Infoway Private Limited on March 28, 2000 at Chennai, Tamil Nadu as a private limited company under the Companies Act, 1956 and was granted the certificate of incorporation by the Registrar of Companies, Chennai, Tamil Nadu ("RoC'). Subsequently, the name of our Company was changed to Shriram Properties Private Limited pursuant to a special resolution passed by the Shareholders on March 17, 2003 and a fresh certificate of incorporation consequent upon change of name was granted by the RoC on March 28, 2003. Our Company has converted from a private limited company to a public limited company and vice versa multiple times between April 1, 2003 and October 24, 2018. The name of our Company was changed to Shriram Properties Limited pursuant to a special resolution passed by the Shareholders on October 24, 2018 and a fresh certificate of incorporation consequent upon change of name was granted by the RoC on December 10, 2018. For further details pertaining to the changes in constitution, changes In the name and Registered Office of our Company, see "History and Certain Corporate Matters" on page 181 of the Prospectus.

Our Company has filed the Prospectus dated December 13, 2021 with the ROC, (the "Prospectus") and the Equity Shares are proposed to be listed on the National Stock Exchange of India Limited ("NSE") and the BSE Limited ("BSE") and trading will commence on or about December 20, 2021.

INITIAL PUBLIC OFFER OF 50,873,592 EQUITY SHARES OF FACE VALUE OF RS.10 EACH ("EQUITY SHARES") OF SHRIRAM PROPERTIES LIMITED ("COMPANY" OR "ISSUER") FOR CASH AT A PRICE OF RS.118^ PER EQUITY SHARE (INCLUDING ASHARE PREMIUM OF RS.108 PER EQUITY SHARE) AGGREGATING TO RS. 6,000 MILLION (THE "OFFER") COMPRISING OF A FRESH ISSUE OF 21,212,576 EQUITY SHARES AGGREGATING TO RS. 2,500 MILLION (THE "FRESH ISSUE") AND AN OFFER FOR SALE OF 29,661,016 EQUITY SHARES AGGREGATING TO RS.3,500 MILLION COMPRISING OF 7,708,009 EQUITY SHARES AGGREGATING RS.909.55 MILLION BY OMEGA TC SABRE HOLDINGS PTE. LIMITED; 707,156 EQUITY SHARES AGGREGATING TO RS. 83.44 MILLION BY TATA CAPITAL FINANCIAL SERVICES LIMITED; 7,814,083 EQUITY SHARES AGGREGATING TO RS.922.06 MILLION BY TPG ASIA SF V PTE. LTD.; 11,313,124 EQUITY SHARES AGGREGATING TO RS.1,334.95 MILLION BY WSI/WSQI V (XXXII) MAURITIUS INVESTORS LIMITED (COLLECTIVELY, THE "INVESTOR SELLING SHAREHOLDERS") AND 2,118,644 EQUITY SHARES AGGREGATING TO RS.250 MILLION BY THE OTHER SELLING SHAREHOLDERS (AS DEFINED IN THE PROSPECTUS) (THE OTHER SELLING SHAREHOLDERS COLLECTIVELY WITH THE INVESTOR SELLING SHAREHOLDERS ARE REFERRED TO AS THE "SELLING SHAREHOLDERS" AND SUCH EQUITY SHARES THE "OFFERED SHARES") ("OFFER FOR SALE"). THE OFFER CONSTITUTES 29.99% OF THE POSTOFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY. THE OFFER INCLUDED A RESERVATION OF 280,373 EQUITY SHARES, AGGREGATING UP RS.30 MILLION, FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (AS DEFINED IN THE PROSPECTUS) NOT EXCEEDING 0.17% OF OUR POST-OFFER PAID- UP EQUITY SHARE CAPITAL ("EMPLOYEE RESERVATION PORTION"). THE OFFER LESS THE EMPLOYEE RESERVATION PORTION IS HEREINAFTER REFERRED TO AS THE "NET OFFER". THE NET OFFER CONSTITUTES 29.83%, OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.

^A DISCOUNT OF 111 PER EQUITY SHARE WAS OFFERED TO ELIGIBLE EMPLOYEES BIDDING IN THE EMPLOYEE RESERVATION PORTION.

The Offer was made through the 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 in compliance with Regulation 6(2) of the SEBIICDR Regulations, wherein not less than 75% of the Net Offer was allocated on a proportionate basis to Qualified Institutional Buyers ('QIBs') ('QIB Portion'). Our Company and the Investor Selling Shareholders, in consultation with the BRLMs, allocated 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations ("Anchor Investor Portion"), of which one-third was reserved for domestic Mutual Funds, subject to valid Bids having been received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. Further. 5% of the Net QIB Portion (excluding the Anchor Investor Portion) was made available for allocation on a proportionate basis only to Mutual Funds, 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 lo valid Bids having been received at or above the Offer Price. Further, not more than 15% of the Net Offer was made available for allocation on a proportionate basis to Non-lnstitutional Investors and not more than 10% of the Net Offer was made available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids having been received at or above the Offer Price. All potential Bidders (except Anchor Investors) were required to mandatorily utilise the Application Supported by Blocked Amount ("ASBA") process by providing details of their respective ASBA accounts (including UPI ID in case of RIBs, if applicable) which were blocked by the Self Certified Syndicate Banks ("SCSBs") to the extent of their respective Bid Amounts. Anchor Investors were not permitted to participate in the Offer through the ASBA process. For details, see "Offer Procedure" on page 386 of the Prospectus.

The bidding for Anchor Investor opened and closed on December 7, 2021. The Company received 34 applications from 14 anchor Investors for 24,461,750 Equity Shares. The Anchor investor price was finalized at Rs. 118 per Equity Share. A total of 22,766,949 Equity Shares were allocated under the Anchor Investor Portion aggregating to Rs 2,686,499,982.

The Offer received 272,706 applications for 91,137,875 Equity Shares (prior to technical rejections) resulting in 3.24 times subscription. The details of the applications received in the Offer 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 NSE on December 15,2021.

A. Allotment to Retail Individual Bidders (after technical rejections) (including ASBA Applications)

The Basis of Allotment to the Retail Individual Bidders, who have placed bid at the Cut-Off Price or at the Offer Price of 18 per Equity Share, was finalized in consultation with the NSE. This category has been subscribed to the extent of 8.04013 times. The total number of Equity Shares Allotted in Retail Portion is 5,063,120 Equity Shares to 40.504 successful Retail Individual Bidder. The category-wise details of the Basis of Allotment are as under:

*Please Note: 1 additional Share shall be allotted to 125 Allottees from amongst 120 Successful Applicants from the categories 250-1625 (i.e. Excluding successful applicants from Category 125) in the ratio of 15:483 Includes spillover of 3,799 Equity Shares from Employee category.

B. Allotment to Non-lnstitutional Bidders (After Technical Rejections) (including ASBA Applications)

The Basis of Allotment to the Non-lnstitutional Bidders, who have bid at the Offer Price of Rs.118 per Equity Share or above, was finalized in consultation with the NSE. The Non-lnstitutional Portion has been subscribed to the extent of 2.50643 times. The total number of Equity Shares Allotted in this category is 7,594,681 Equity Shares to 534 successful Non- Institutional Bidder. The category-wise details of the Basis of Allotment are as under: (Sample)

Includes spillover of 5,699 Equity Shares from Employee category.

C. Allotment to Eligible Employees: (After Technical Rejections)

The Basis of Allotment to the Employees, who have placed bid at the Offer Price of Rs. 118 (including discount of Rs. 11 per Equity Share offered to Eligible Employees) per Equity Share, was finalized in consultation with the NSE. The Employee Portion has been subscribed to the extent of 0,86447 times. The total number of Equity Shares Allotted in this category is 242,375 Equity Shares to 258 successful Employees. The category-wise details of the Basis of Allotment are as under.

Unsubscribed portion of 37,998 Equity Shares spilled over to QIB, NIB and Retail Categories in the ratio of 75:15:10.

D. Allotment to QIBs

Allotment to QIBs, who have Bid at the Offer Price of Rs. 118 per Equity Share or above, has been done on a proportionate basis in consultation with the NSE. This category has been subscribed to the extent of 1.92874 times of QIB Portion. As per the SEBI Regulations, Mutual Funds were Allotted 5% of the Equity Shares of QIB Portion available i.e., 760,324 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were Allotted the remaining available Equity Shares i.e., 14,446,143 Equity Shares on a proportionate basis. The total number of Equity Shares Allotted in the QIB Portion is 15,206,467 Equity Shares, which were allotted to 17 successful QIB Bidders. The category-wise details of the Basis of Allotment are as under:

Includes spillover of 28,500 Equity Shares from Employee category E. Allotment to Anchor Investors

The Company and the Selling Shareholders, in consultation with the BRLMs, have allocated 22,766,949 Equity Shares to 14 Anchor Investors (through 34 Applications) at the Anchor Investor Offer Price of Rs. 118 per Equity Share in accordance with the SEBI Regulations This represents 60% of the QIB Portion

The Board of Directors of our Company on December 15, 2021 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being NSE and has allotted the Equity Shares to successful Bidders. The Allotment Advice-cum-Intimations and/ or notices will be emailed or dispatched to the email id or address of the investors as registered with the depositories. Further, the instructions to the Self Certified Syndicate Banks for unblocking of funds, transfer to Public Offer Account have been issued on December 15, 2021 and payment to non-Syndicate brokers have been issued on December 16, 2021. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares Allotted to the successful Allottees have been uploaded on December 16, 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 NSE and BSE on December 17, 2021. The Company has received listing and trading approval from NSE and BSE and the trading will commence on or about December 20, 2021.

All capitalised 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 will be hosted on the website of the Registrar to the Offer, KFin Technologies Private Limited at www.kfintech.com. All future correspondence in this regard may kindly be addressed to the Registrar to the Offer 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:

	KFin Technologies Private Limited
	Selenium, Tower FT Plot No, - 31 and 32, Financial District
	Nanakramguda, Serilingampally. Hyderabad. Rangareddi - 500 032, Telangana. India.
	Tel: +91 40 6716 2222: E-mail: murali.m@kfintech.com
	Website: www.kfintech.com
	Investor grievance ID: einwardris@kfintech.com
	Contact Person: M. Murali Krishna
	SEBI Registration Number: INRD00000221
	* Formerly known as Karvy Fintech Private Limited

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 SHRIRAM PROPERTIES LIMITED.

SHRIRAM PROPERTIES LIMITED has filed the Prospectus dated December 13, 2021. The Prospectus shall be available on the website of SEBI at www.sebi.gov.in , websites of the Stock Exchanges i.e. BSE and NSE at www.bseindia.com and www.nseindia.com , respectively and is available on the websites of the BRLMs i.e. Axis Capital Limited, ICICI Securities Limited, and Nomura Financial Advisory and Securities (India) Private Limited at www.axiscapital.com, www.icicisecurities.com and www.nomuraholdings.com/company/group/asia/india/index.html, respectively. Bidders should note that investment in equity shares involves a high degree of risk and for details relating to the same, please see the section entitled "Risk Factors" on page 20 of the Prospectus.

The Equity Shares offered in the Offer have not been and will not be registered under 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 state securities laws. Accordingly, such Equity Shares are only being offered and sold outside of the United States in "offshore transactions" as defined and in compliance with Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur. There is no offer of Equity Shares in the United States. The Equity Shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be offered or sold, and Bids may not be made by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction.