Syrma IPO Basis of Allotment

Syrma SGS Technology Limited ("Company" or "Issuer" ) was incorporated as 'Syrma Technology Private Limited' pursuant to a certificate of incorporation dated August 23, 2004, issued by the Registrar of Companies. Maharashtra at Mumbai ("RoC"). Thereafter, pursuant to a resolution passed by our Shareholders m the extraordinary general meeting held on August 28, 2021, the name of our Company was changed from "Syrma Technology Private Limited" to Syrma SGS Technology Private Limited', and consequently, a fresh certificate of incorporation dated September 14, 2021 was issued by the RoC to our Company. Thereafter, our Company was converted from a private limited company to a public limited company, pursuant to a resolution passed in the extraordinary general meeting of our Shareholders held on October 6. 2021, and the name of our Company was changed to Syrma SGS Technology Limited, and a fresh certificate of incorporation dated October 20, 2021, was issued to our Company by the RoC. For details of change in the name and registered office of our Company, see ‘History and Certain Corporate Matters' on page 247 of the Prospectus of the Company dated August 19, 2022 filed with the RoC on August 19, 2022 ("Prospectus")

Our Company has filed the Prospectus dated August 19, 2022 with the RoC, and the Equity Shares are proposed to be listed on the National Stock Exchange of India Limited (NSE) and BSE Limited ("BSE") and trading is expected to commence on August 26, 2022.

INITIAL PUBLIC OFFERING OF 38,187,541 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH ("EQUITY SHARES") OF OUR COMPANY ("OUR COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF ?220 PER EQUITY SHARE (INCLUDING A PREMIUM OF Rs. 210 PER EQUITY SHARE) ("OFFER PRICE") AGGREGATING TO Rs. 8,401.26 MILLION. THE OFFER COMPRISES OF A FRESH ISSUE OF 34,818,181 EQUITY SHARES AGGREGATING TO Rs 7,660.00 MILLION ("FRESH ISSUE") AND AN OFFER FOR SALE OF 3,369,360 EQUITY SHARES BY VEENA KUMARI TANDON (THE "SELLING SHAREHOLDER". AND SUCH EQUITY SHARES, "OFFERED SHARES") AGGREGATING TO Rs. 741.26 MILLION ("OFFER FOR SALE", AND TOGETHER WITH THE FRESH ISSUE, "OFFER"). THE OFFER CONSTITUTE 21.67% OF OUR POST-OFFER PAID-UP EQUITY SHARE CAPITAL

OUR COMPANY HAS, IN CONSULTATION WITH THE BRLMS, UNDERTAKEN THE PRE-IPO PLACEMENT OF 3,793,103 EQUITY SHARES AT A PRICE OF Rs.290.00 PER EQUITY SHARE (INCLUDING A PREMIUM OF Rs. 280.00 PER EQUITY SHARE) AGGREGATING TO Rs. 1,100.00 MILLION. ANCHOR INVESTOR OFFER PRICE: Rs. 220 PER EQUITY SHARE OF FACE VALUE OF Rs. 10 EACH OFFER PRICE: Rs. 220 PER EQUITY SHARE OF FACE VALUE OF Rs. 10 EACH THE OFFER PRICE IS 22.00 TIMES OF THE FACE VALUE

• Weighted average cost of acquisition:

* The acquisition price of Rs. 0.00 per Equity Share represents, Equity Shares allotted pursuant to Bonus Issue, allotments pursuant to scheme of amalgamation and conversion of compulsorily convertible preference shares into Equity Shares.

** The acquisition prices have been adjusted for the bonus issue of Equity Shares undertaken by our Company pursuant to a resolution of our Shareholders dated October 28, 2021, pursuant to which our Company has issued and allotted 136,255,300 bonus Equity Shares in the ratio of 100 fully paid-up bonus share of the face value of Rs. 10 each for every existing one fully paid up equity share of the face value of Rs. 10 each held by the Shareholders as on October 28, 2021.

• The markets in which our customers compete are characterized by consumers and their rapidly changing preferences, advancement in technology and other related factors, which may result in short product life cycles. Any failure by our Company to upgrade or customize our products in a timely manner to account for such changes or advancements, may have a material adverse effect on our financial condition, cash flows and results of operations.

• The loss of our key customer base may have a material adverse effect on the financial conditions, cash flows and results of operations as our top 5 customers account for over 35.70% of our total revenue in Fiscal 2022, as per our Restated Consolidated Financial Information.

• We imported raw materials amounting to Rs. 3,699.49 million, Rs. 1,911.54 million and Rs. 1,563.89 million which accounted for 74.18%, 71.06% and 69.92% of our cost of raw materials and components in the Fiscals 2022, 2021 and 2020 respectively as per our Restated Standalone Financial Information. We are dependent on third parties for supply of raw materials and import majority of our raw materials.

• Out of the 11 manufacturing facilities currently operated by our Company and Subsidiaries, two of these manufacturing facilities collectively contribute to more than 80% of our revenue from operations of our Restated Standalone Financial Information in the last three Fiscals. In light of the concentration of our manufacturing operations in these facilities, our operations are susceptible to local and regional factors relating to these facilities, and any disruptions to our operations pursuant to these factors could adversely affect our business, financial condition and results of operations.

• The three BRLMs associated with the Offer have handled 63 public issues in the past three years, out of which 24 issues closed below the issue price on listing date.

*Issues handled where there were no common BRLMs

This Offer was made in terms of Rate 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR") read with Regulation 31 of the SEBI ICDR Regulations. This Offer was made through the Book Building Process in accordance with Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 50% of the Offer was available for allocation on a proportionate basis to Qualified Institutional Buyers (‘QIBs') {the "QIB Portion''), provided that our Company in consultation with the BRLMs allocated up to 60% of the QIB Portion to Anchor Investors on a discretionary basis. One-third of the Anchor Investor Portion was reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price. 5% of the Net QIB Portion was available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion was available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not less than 15% of the Offer was available for allocation to Non-Institutional Bidders and not less than 35% of the Offer was available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. The Equity Shares available for allocation to Non-Institutional Bidders under the Non-institutional Portion, were subject to the following: (i) one-third of the portion available to Non-Institutional Bidders shall be reserved for applicants with an application size of more than ?0.20 million and up to ?1.00 million, and (ii) two-third of the portion available to Non-Institutional Bidders shall be reserved for applicants with application size of more than 11.00 million, provided that the unsubscribed portion in either of the aforementioned sub-categories may be allocated to applicants in the other sub-category of Non-Institutional Bidders. All Bidders, other than Anchor Investors, are mandatory required to participate in the Offer through the Application Supported by Blocked Amount ("ASBA") process by providing details of their respective ASBA Account, (including UPI ID in case of UPI Bidders), in which the corresponding Bid Amounts will be blocked by the SCSBs or under the UPI Mechanism, as applicable, to participate in the Offer. Anchor Investors were not permitted to participate in the Anchor Investor Portion through the ASBA Process, For details, see Offer Procedure" on page 665 of the of the Prospectus.

The Offer received 779,764 banked applications for 923,327,052 Equity Shares (including applications from Anchor Investors) (before technical rejections) resulting in 24.18 times subscription The details of the banked applications received in the Offer from Retail Individual Bidders, Non-Institutional Bidders and QIBs (including Anchor Investors) are as under (before technical rejections):

Final Demand

A summary of the final demand as per BSE and NSE as on the Bid/Offer Closing Date at different Bid prices is as under:

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE on August 23, 2022.

The IPO Committee of our Company at its meeting held on August 24, 2022 has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has Allotted the Equity Shares to various successful applicants. The Allotment Advice Cum Refund Intimation has been dispatched to the address of the investors as registered with the depositories. Further, instructions to the SCSBs have been issued for unblocking of funds and transfer to the Public Offer Account on August 23, 2022 and the payments to non-syndicate brokers have been issued on August 23, 2022. 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 August 24, 2022 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed Listing application with BSE and NSE on August 24, 2022. The Company has received listing and trading approval from BSE and NSE and the trading will commence on or about August 26, 2022.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus INVESTORS PLEASE NOTE

These details of the Allotment made shall be hosted on the website of Registrar to the Offer, Link Intime India Private Limited at www.linkintime.co.in. All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the First/ Sole applicant, Bid cum Application Form Number, Bidder DP ID, Client ID, PAN, date of submission of Bid cum Application Form, address of the Bidder, Serial number of the ASBA form, number of Equity Shares bid for, name of the Member of the Syndicate, place where the bid was submitted by the Bidder and payment details at the address given below:

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 SYRMA SGS TECHNOLOGY LIMITED.

SYRMA SGS TECHNOLOGY has filed the Prospectus dated August 19, 2022 with the RoC and thereafter with the Securities and Exchange Board of India ("SEBI") and the Stock Exchanges. The Prospectus is available on the website of SEBI at www.sebrgov.in and on the website of the Book Running Lead Managers, DAM Capital Advisors Limited, ICICI Securities Limited, and IIFL Securities Limited at www.damcapital.in, www.icicisecurities.com and www.iiflcap.com, respectively, and the websites of BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com. respectively. Any potential investor should note that investment in Equity Shares involves a high degree of risk. For details, potential investors should refer to the Prospectus, including the section titled 'Risk Factors' on page 34 of the Prospectus.

This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration under the U S. Securities Act or an exemption from such registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or the selling security holder and that will contain detailed information about the company and management as well as financial statements. No public offering or sale of securities in the United States is contemplated.