Time Technoplast IPO Basis of Allotment

Time Technoplast Ltd.

Our Company was incorporated on December 20, 1989 as Time Packaging Private Limited under the Companies Act, 1956. The status of our Company was subsequently changed to a public limited company and the fresh certificate of incorporation consequent to change of name to Time Packaging Limited was granted to our Company on May 27,1992 by the Registrar of Companies, Bombay, Maharashtra. The name of our Company was further changed from Time Packaging Limited to Time Technoplast Limited and the fresh certificate of incorporation consequent to change of name was granted to our Company on May 01, 2006 by the Registrar of Companies, Goa, Daman & Diu.
Registered Office: 213, Sabari Kachigam, Daman (U.T.) - 396 210. India Tel.: +91-260-2240156; Fax: +91-260-2240256 Corporate Office: 102, Todi Complex, 35, Saki Vihar Road, Andheri (East) Mumbai-400 072,Tel: +91-22-2857 0302 ; 2803 9999. Fax: +91-22-2857 5672. E-mail:investors@timemauser.com Contact Person & Compliance Officer: Mr. K. Venkataraman, Company Secretary & Chief of Legal. Tel: +91-22-2803 9999 Fax: +91-22-2857 5672 E-mail:investors@timemauser.com Website: www.timetechnoplast.com

BASIS OF ALLOCATION

PUBLIC ISSUE OF 3,921,500 EQUITY SHARES OF FACE VALUE OF Rs.10 EACH FOR CASH AT A PRICE OF RS.315 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs.305 PER EQUITY SHARE) AGGREGATING TO RS.1235.27 MILLION('THE ISSUE') BY TIME TECHNOPLAST LIMITED ('TTL','OUR COMPANY' OR 'THE ISSUER'). THE ISSUE COMPRISES NET ISSUE TO THE PUBLIC OF 3,660,400 EQUITY SHARES AT A PRICE OF Rs.315 PER EQUITY SHARE('THE NET ISSUE') AND RESERVATION OF UP TO 261,100 EQUITY SHARES AT A PRICE OF Rs.315 PER EQUITY SHARE FOR THE PERMANENT EMPLOYEES OF THE COMPANY (INCLUDING A SHARE PREMIUM OF Rs.305 PER EQUITY SHARE)('THE EMPLOYEE RESERVATION PORTION'). THE ISSUE CONSTITUTES 18.74% OF THE FULLY DILUTED POST ISSUE PAID UP CAPITAL OF OUR COMPANY.

ISSUE PRICE: Rs.315 PER EQUITY SHARE OF FACE VALUE Rs.10/- THE ISSUE PRICE IS 31.5 TIMES OF THE FACE VLUE

In terms of Rule 19(2)(b) of the SCRR, as being an issue for less than 25% of the Post-issue equity share capital, the Issue was being made through the 100% Book Building Process wherein at least 60% of the Net Issue shall be allocated on a proprtionate basis to QIB Bidders out of which 5% of the QIB Portion shall be available for allocation on a proportionate basis to the Mutual Funds only and the remainder of the QIB portion shall be available for allocation on aproportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. If at least 60% of the Net issue cannot be allotted to QIBs, then the entire application money will be refunded forthwith. Futher upto 30% of the  Net issue Shall be available for allocation on a proportionate basis to Retail individual Bidders and upto 10% of the Net issue shall be available for allocation on a proportionate basis to Non - Institutional Bidders, subject to valid Bids being received at or above the issue Price. Further upto 261,100 Equity Shares shall be availble for allocation on a proportionate basis to Eligible Employees, subject to valid Bids being received at or above the Issue Price.
The Issue received 74799 applications for 192714780 equity shares resulting in 49.1431 times subscription. The details of the applications received in the Issue from Qualified Institutional Bidders. Non-institutional Retail Investor and Employees categories are as under: ( Before technical rejections)

Final Demand
A sample of the final demand at different bid prices is as under:

The Basis of Allocation for all the categories namely Retail Individual Investors, Non Institutional Investors, Qualified Institutional Buyers and Employees was finalised in consultation with Bombay Stock Exchange of India Limited (Designated Stock Exchange) on June 5,2007

A. Allotment to Retail Investors (After Technical Rejections)

All the bidders in the Retail Investors, who have bid at cut-off or at the issue Price of Rs. 315/- per Equity Share, have been considered while preparing the basis of allocation. The category was over subscribed 12.49537 times. The total number of shares allotted in this category is 1098355 Equity Shares including spill over from Employee Category (220 Shares).
The category-wise details of the Basis of allocation are as under:

B. Allotment to Non Institutional Investors (After Technical Rejections)
All bidders in the Non-Institutional, who have bid at the Issue price of Rs. 315/-per Equity Share, have been Considered while preparing the basis of allocation. The category was over subscribed 68.79166 times. The total number of shares allocated in this category is 366025 Equity Shares. The category-wise details of the Basis of allocatton are as under (Sample):

C. Allotment to Employee category (After Technical Rejections)

All the bidders in the Employee Category, who have bid at the Issue Price of Rs. 315/- per Equity Share, have been considered while preparing the basis of allocation. The category was oversubscribed 0.99916 times. The total number of shares allocated in this category is 260880 Equity Shares.The Un-subscribed portion of 220 shares spill overed to retail Category. The category-wise details of the Basis of a allocation are as under (Sample):

D. Allotment to QIBs
Allocation to QIBs has 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 21,96,240 shares available. Other QIBs and Mutual Funds were allotted the remaining 20,86,428 Equity Shares.

Dates of despatch of Refund Orders, Credit to beneficiary Accounts, Refund instructions and Listing details

The IPO committee of Time Technoplast Ltd., at its meeting held at Daman on June 6,2007 has approved  Basis of Allocation Shares to various successful applicants.Refunds have been made through ECS, Direct credit, RTGS and NEFT, into the Bank Accounts of the applicants, as registered with the depositories, for applicants residing at any of the 15 centres specified by SEBI. For other applicants Refund Orders have been despatched to their address as registered with the depositories. In case the same is not received within ten days, applicants 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 allotted to successful applicants have been credited to their beneficiary accounts.

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 allotment.

INVESTORS PLEASE NOTE
This details of the allocation made would be hosted on the website of Registrars 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),Mumbai-400078.
Tel: -91 -22- 25960320,Fax.+91 -22-25960329
Email: timetechno.ipo@intimespectrum.com, Website; www.intimespectrum.com,
Contact person: Mr. Salim Shaikh

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 TIME TECHNOPLAST LIMITED