Simplex Projects IPO Basis of Allotment

SIMPLEX PROJECTS LIMITED

(Incorporated as Simplex Projects Limited on 31st October 1990 under the Companies Act, 1956, with
Its registered office at 12/1, Nellie Sengupta Saranl, Kolkata - 700 087.)
Registered/Corporate Office: 12/1, Nellie Sengupta Saranl, Kolkata - 700087.
Tel.: +91-33-32923330; Fax: +91-33-22528013;
Website: www.simplexprojects.com; E-mail: ipo@simplexprojects.com

BASIS OF ALLOCATION

PUBLIC ISSUE OF 30,00,000 EQUITY SHARES OF Rs. 10 EACH ("EQUITY SHARES") FOR CASH AT A PRICE OF RS. 185/- PER EQUITY SHARE, AGGREGATING RS.5550 LAKHS. THE ISSUE SHALL CONSTITUTE 25% OF THE FULLY DILUTED POST-ISSUE CAPITAL OF OUR COMPANY.

ISSUE PRICE: RS. 185/- PER EQUITY SHARE OF FACE VALUE OF RS. 10 EACH.

THE ISSUE PRICE IS 18.5 TIMES OF THE FACE VALUE

The Issue was being made through the 100% Book Building Process wherein not more than 50% ot the Issue to the Public shall be allocated on a proportionate basis to Qualified Institutional Bidders ("QIBs"), (including 5% of the QIB portion that would be specially reserved tor Mutual Funds.) Further not less than 15% ot the Issue shall be available for allocation on a proportionate basis to Non-Institutional bidders and not less than 35% of the issue shall be available for allocation on proportionate basis to retail individual bidders, subject to valid bids being received at or above the Issue Price.

The Issue received 180671 applications for 251872470 equity shares resulting in 83.96 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 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 July 26, 2007.

A. Allocation to Retail Investors
The Basis of Allocation to the Retail Investors, who have bid at cut-off or at the Issue Price of Rs.185/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 46.87 times. The total number of shares allotted in this category is 1050000 Equity Shares. The category-wise details of the Basis ot Allocation are as under:

B. Allocation to Non Institutional Investors
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 BSE. The category was subscribed 146.89 times. The total number of shares allotted In this category is 450397 Equity Shares. The category-wise details of the Basis of Allocation (Sample) are as under:

3090 onwards firm allotment

C. Allocation to Qualified Institutional Buyers
Allocation to QIBs have been done on a proportionate basis in consultation with BSE. As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available (75000) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (1425000) on proportionate basis. Mutual Funds were allotted 16 09% for QIB segment and other QIB applicants were allotted 83.91% of the shares for QIB SBoment.

The Board of Directors at its Meeting held at Kolkata on July 26,2007 has approved the basis of allocation of shares of the Issue and has allotted the shares to various successful applicants.
The Refund Orders and allotment advice and notice has 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 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 made would be hosted on the website of Registrars to the Issue, Cameo Corporate Services Limited at www.cameoindia.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:

CAMEO CORPORATE SERVICES LIMITED
UNIT: SIMPLEX IPO, Subramanian Building', No. 1, Club House Road, Chennai 600 002, India
Tel: -1-91 44 2846 0390 / 0014, Fax: +91 44 2846 0129
Email: investor@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 SHARE ON LISTING OR THE BUSINESS PROSPECTS OF SIMPLEX PROJECTS LIMTIED.