TAKE Solutions IPO Basis of Allotment

TAKE SOLUTIONS LIMITED

(Originally incorporated under the Companies Act, 1966 on December 20,2000 as TAKE Solutions Private Limited and registered with the Registrar of Companies, Tamil Nadu. Pursuant to a Scheme of Amalgamation, a company namely, Millennium Infocomm Limited was merged with the Company w.e.f. January 1,2003 i.e. the Appointed Date; the Scheme of Amalgamation came into effect on February 23,2004 i.e. the Effective Date and the word 'Private' was deleted from the name of the Company by the Registrar of Companies, Tamil Nadu on March 29,2004.)
Registered Office: # 76, Venkatakrishna Road, Raja Annamalaipurum, Chennai 600028, India; 
Tel: (+91 44) 2461 7358; Fax: (+91 44) 2461 73,
Corporate Office: # 80/81, MBC Towers, 6ft Floor, TTK Road, Alwarpet, Chennai 600 018, India;
Tel: (+91 44) 6696 4200, 6696 5555,
Contact Person: Mr. Venkataraman Sundar-Vice President - Finance & Company Secretary;
Tel: (+91 44) 6696 4200, 6696 5555
Email: ipo@takesolutions.com Website: www.takesolutions.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 2,100,000 EQUITY SHARES OF RS. 10 EACH (EQUITY SHARES) OF TAKE SOLUTIONS LIMITED ('TAKE' OR THE 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS. 730 PER EQUITY SHARE AGGREGATING RS .1533 MILLION (THE 'ISSUE'). THE ISSUE COMPRISES OF A NET ISSUE TO THE PUBLIC OF 2,000,000 EQUITY SHARES ('NET ISSUE') AND THE RESERVATION OF 100,000 EQUITY SHARES FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (THE 'EMPLOYEE RESERVATION PORTION') AT THE ISSUE PRICE. THE ISSUE WILL CONSTITUTE 17.50% OFTHE FULLY DILUTED POST ISSUE PAID UP EQUITY CAPITAL OF THE COMPANY. THE NET ISSUE CONSTITUTES 16.67% OF THE FULLY DILUTED POST ISSUE PAID-UP EQUITY CAPITAL OF THE COMPANY.

ISSUE PRICE: RS. 730 PER EQUITY SHARE OF FACE VALUE OF Rs. 10 EACH. THE ISSUE PRICE IS 73 TIMES OF THE FACE VALUE

In terms of Rule 19(2)(b) of the Securities Contracts (Regulations) Rules, 1957, the Net Issue being less than 25%of the post issue capital, the Issue was being made through the 100% Book Building Process wherein at least 60% of the Net Issue shall be allotted on a proportionate basis io Qualified Institutional Buyers ('QIBs') out of which 5% shall be available for allocation on a propotionate basis to Mutual Funds only. If at least 60% of the Net Issue cannot be allotted to QIBs, then the entire application money will be refunded. Further upto 10% of the Net Issue will be available for allocation to for allocation to Non-Institutional  Bidders on a proportionate basis and up to 30% of the Net Issue will be available for allocation to Retail Individual Bidders on a proportionate basis, subject to valid bids being received at or above the Issue Price. Further 100,000 Equity Shares shall be available for allocation on a proportionate basis to Eligible Employees subject to valid bids being received at or above the Issue Price.

The Board of Directors of TAKE Solutions Limited wishes to thank the investing public for their response to the Issue which opened for subscription on August 1,2007 and closed on August 7,2007. The Issue received 157097 application for 120900366 equity shares resulting In 57.5716 times subscription.

The Basis of Allotment for all the categories namely Retail individual Investors, Non Institutional Investors, Qualified Institutional Buyers and Employees was approved by The Bombay Stock Exchange Limited (Designated Stock Exchange) on Aug 20,2007. The IPO Allotment Committee of the Board of Directors at its Meeting held at Chennai, on Aug 21,2007, allotted the Equity Shares to the successful applicants.

The details of valid appllications received and allotments are as under:

Note: 3 excess equity shares have been allotted in Retail category due to rounding off.

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

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange-Bombay Stock Exchange Limited('BSE') on Aug 20,2007.

A. Allotment to Retail Individual Investors (After Technical Rejections)
The Basis of Allotment to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs 730/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 22.124340 times. The total number of shares allotted in this category is 600003 Equity Shares. The category-wise details of the Basis of Allotment (sample) are as under:

B. Allotment to Non Institutional Investors (After Technical Rejections)
The Basis of Allotment to the Non Institutional Investors, who have bid at the Issue Price of Rs,730/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 82.865295 times. The total number of shares allotted in this category Is 199997 Equity Shares. The category-wise details of the Basis of Allotment (Sample) are as under:

C. Allotment to Employees
The Basis of Allotment to the Employees category, who have bid at cut-off or at the Issue Price of Rs. 730/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 1.037970 times. The total number of shares allotted in this category is 100000 Equity Shares. The category-wise details of the Basis of Allotment (Sample) are as under:

D. Allotment to QIBs
Allotment to QIBs have been done on a proportionate basis in consultation with the Bombay Stock Exchange Limited. The total numbers equity Shares allotted in this category are 1200000 Equity shares (60% of total equity shares alloted).Out of 1200000 Equity Shares offered to QIBs as per the terms of the Issue, 60000 Equity Shares (i.e 5% of 1200000 Equity Shares) has been allotted proportionately to mutual funds. Mutual funds applicants have also been considered eligible for proportionate allotment for the balance Equity shares in QIBs category i.e 1140000. The category was over subscribed 75.1373 times. The category-wise details of the Basis of Allotment are as under:

The IPO Allotment Committee of the Board of Directors at Its Meeting held at Chennai on August 21,2007 has adopted the Basis of allotment of Equty shares in the Issue, approved by BSE and allotted 2100000 Equity Shares to the successful applicants.

The Refund Orders have been made through ECS, Direct Credit, RTGS and NEFT into the Bank Account of the applicants, as registered with the depositories, for applicants residing at any of the 15 centers specified by SEBI. In respect of refunds due to other applicants has been dispatched to the addresses 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. ECS Intimation Note and Refund Orders have been over-printed with the bank mandate details as registered, if any, with the depositories. The Equity 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 Bombay Stock Exchange Limited and National Stock Exchange of India Limited within seven working days from the date of approval of the Basis of Allotment.

INVESTORS PLEASE NOTE
The details of the allotment made would be hosted on the website of the Registrar 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, L B S Marg, Bhandup (W), Mumbal 400 078
Tel: +912225960320; Fax:+912225960328/29,
E-mail: take.ipo@intimespectrum.com Website: www.intimespectrum.com
Contact Person: Mr, Sachin Achar

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 TAKE SOLUTIONS LIMITED.