Shriram EPC IPO Basis of Allotment

This communication is intended for release solely in India and may not be released in the United States. This communication does not constitute an offer of securities for sale in any jurisdiction including the United States. Any securities described in this communication may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended, or an exemption from registration.

Shriram epc
Engineering the future
Shriram EPC Limited

(The Company was incorporated as Shriram EPC Limited on June 12, 2000. A certificate of commencement of business was granted on June 30, 2000 by the Registrar of Companies, Tamil Nadu. Shriram Engineering Construction Company Limited was merged with the Company by an order of the Court dated July 22, 2005 with effect from April 1, 2004} Registered Office: No.5, TV. Street, Chetput, Chennai - 600 031, Tamil Nadu, Tel : +91 44 2836 1817, Fax : +91 44 2836 3518, Email:investors@shriramepc.com, Website : www.shriramepc.com
Company Secretary and Compliance Officer: Mr.K.Suresh

The issue received 9,776 applications for 19,371,040 equity shares resulting in 3.87 times subscription. The details of the applications received in the issue from Qualified institutional Bidders, Non-Institutional and Retail Individual bidders are as under (Before technical rejections):

Final Demand
The summary of the final demand at different bid prices is as under:

The Basis of Allocation was finalized in consultation with The Bombay Stock Exchange Limited ('BSE') on February 13, 2008. The final demand at different bid prices and allocation of shares in the following three 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 or above the issue Price of Rs.300/-per Equity Share, was finalized in consultation with BSE. The category was subscribed 0.563 times. The total number of Equity Shares allotted in this category is 845040 Equity Shares to 9469 applicants. The category-wise details of the Basis of Allocation are as under:

B. Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to the Non institutional investors, who have bid at or above the Issue Price of Rs 300/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 0.199 times. The total number of shares allotted in this category is 99500 Equity Shares to 26 applicants. The category-wise details of the Basis of Allocation are as under:

C. Allocation to Qualified institutional Buyers
Allocation to QIBs have been done on a proportionate basis in consultation with BSE. The unsubscribed 654960 Equity Shares of Retail bidders and 400500 Shares of Non Institutional bidders are added to this category. As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available 202773 and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares 3852687 on proportionate basis. The total number of shares allotted in this category is 4055460 Equity Shares to 29 applicants.

The IPO Committee of the Board at its Meeting held at Chennai on February 13, 2008 has approved the basis of allocation of Equity Shares of the Issue and has allotted the shares to various applicants.
The CAN cum Refund Orders, intimation regarding Refund through electronic mode (ECS, RTGS, NEFT or Direct Credit) allotment advice and notices (where applicable) are being despatched 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 Equity Shares allocated to the 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 Bombay Stock Exchange Limited and National Stock Exchange of India Limited within seven working days from the date of approval of the basis of allocation.

INVESTORS PLEASE NOTE
This details of the allocation are hosted on the website of Registrar to the Issue, Cameo Corporate Services Limited at
www.cameoindia.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 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:
CAMEO CORPORATE SERVICES LIMITED
Unit: Shriram EPC Limited 'Subramanian Building', No. 1, Club House Road, Chennai 600 002, India
Tel: +91 44 2846 0390 / 1989 / 0014/ 0015 / 1092 /1098 Fax: +91 44 2846 0129
Email: shriramepc@cameoindia.com Website: www.cameoindia.com

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 EPC LIMITED.