VKS Projects IPO Basis of Allotment

VKS PROJECTS LIMITED

(Our Company was incorporated in India as 'Chaitanya Contractors & Engineers Private Limited' on February 17,1998 under the Companies Act, 1956) (For details of the changes in our name and Registered Office, see 'History and Other Corporate Matters' on page 125 of the Prospectus)
Registered Office: 507, 'B' Wing, Sai Sangam, Sector 15, CBD Belapur (E), Navi Mumbai - 400614, Maharashtra, India.
Contact Person: Ms. Supriya A. Tatkar, Company Secretary and Compliance Officer.
Tel: +91-22-41267000; Fax: +91 -22-41267030; Email: complianceofficer@vksprojects.com; Website: www.vksprojects.com

The Equity Shares are proposed to be listed on the BSE Limited ('BSE') and the National Stock Exchange of India Limited ('NSE') and the trading will commence on or around July 18,2012*.

*Subject to receipt of listing and trading approval from the Stock Exchanges.

The issue was made through the 100% Book Building Process wherein at least 50% of the issue shall be allocated on a proportionate basis to eligible QIB's, out of which 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to eligible QIB's, including Mutual Funds, subject to valid bids being received at or above the Issue Price. Provided that our Company may allocate up to 30% of the QIB Portion to Anchor Investors on a discretionary basis out of which one-third shall be reserved for domestic Mutual Funds. Further, upto 15% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and upto 35% of the Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid bids being received at or above issue price. Any bidder, except the Anchor Investors, may participate in this Offer through the ASBA process by providing the details of their respective bank accounts in which the corresponding Bid amounts will be blocked by Self Certified Syndicate Banks ('SCSBs'). For details in this regard, specific attention is invited to 'Issue Procedure' on page 220 of the Prospectus.

The Issue received 1,595 applications for 1,02,20,900 equity shares resulting in 1.02 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional, Retail Individual Investor are as under: (Before technical rejections).

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, being the BSE Limited ('BSE') on July 12, 2012. Details of valid applications received and allotments are as under:

Allotment to Retail Individual Investors (After Technical Rejections) (including ASBA application)

The Basis of Allotment to the Retail Individual Investors, who have bid at the Issue Price of Rs 55/- per Equity Share or above, was finalized in consultation with BSE. The category was subscribed 1.00 times including spill over of 3,25,400 Equity Shares from Non Institutional Investors category. 508 applications for 11,17,100 Equity Share were made under the ASBA process out of which 487 valid applications for 10,82,300 equity shares were considered for allotment. The total number of shares allotted in this category is 38,25,400 Equity Shares to1,561 successful applicants. All the applicants in this category have been given full and firm allotment.

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 55/- per Equity Share or above, was finalized in consultation with BSE. The category was subscribed 0.38 times. 2 applications for 5,74,700 Equity Share were made under the ASBA process and were considered for allotment. The total number of shares allotted in this category is 5,74,700 Equity Shares to 2 successful applicants. All the applicants in this category have been given full and firm allotment. The unsubscribed portion of Non Institutional Investors Category i.e. 9,25,300 equity shares has been added to the Retail Individual Investors & QIB category.

Allotment to QIBs (After Technical Rejections)

The Basis of Allotment to the QIBs, who have bid at the Issue Price of Rs 55/- per Equity Share or above, was finalized in consultation with BSE. As per SEBI (ICDR) Regulations, 2009 Mutual Funds were to be allotted 5% of the quantum of shares available. However, there were no applications from Mutual Funds. The category was subscribed 1.03 times including spill over of 5,99,900 Equity Shares from Non Institutional Investors category. 4 applications for 57,71,000 Equity Share were made under the ASBA process and were considered for allotment. The total number of shares allotted in this category is 55,99,900 Equity Shares to 4 successful applicants on proportionate basis (including the spillover from Non Institutional Investors categories to the extent of 5,99,900 equity shares).

The Board of Directors of the company at its Meeting held on July 12, 2012 has taken on record the basis of allocation of shares approved by the Designated Stock Exchange viz., BSE Limited, Mumbai and has authorized the Corporate Action for the allotment of the Equity Shares to various successful applicants.

In case the same is not received within ten days, investors may contact at the address given below. The Refund Advices are accompanied with Demand Drafts which have been over-printed with the bank account details as registered, if any, with the depositories. The equity shares allotted to successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. Our Company is taking steps to get the equity shares admitted for trading on the NSE and BSE within 12 working days of the closure of the Issue.

The CAN-cum-Refund Advices and allotment advice and/ or notices have been dispatched to the address of the investors as registered with the depositories. Refunds have been made through ECS, Direct Credit, RTGS and NEFT, into the Bank Accounts of the applicants, as registered with the depositories. For other applicants Refund Orders have been dispatched to their address as registered with the depositories. In case the same is not received within ten working days, investors may contact at the address given below. The Refund Orders have been over printed with the Bank Account details as registered, if any, with the depositories. The Equity Shares allotted to successful applicants have been 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 BSE Limited and on the National Stock Exchange of India Limited within 12 working days from the closure of the Issue.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated July 07, 2012 ('Prospectus').

Investors please note: The details of the allotment made has been hosted on the website of the Registrar to the Issue, Bigshare Services Private Limited at Website: www.bigshareonline.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:

Bigshare Services Private Limited
E-2/3, Ansa Industrial Estate, Saki Vihar Road, Sakl Naka, Andheri (East), Mumbai - 400 072.
Contact Person: Mr. Ashok Shetty
Tel No: + 91 22 28470652 / 40430200, Fax No: + 91 22 28475207.
Email: ipo@bigshareonline.com, Website: www.bigshareonline.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 VKS PROJECTS LIMITED.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated July 07, 2012 ('Prospectus'). VKS Projects Limited (the 'Company') has filed the Prospectus with Registrar of Companies, Mumbai, Maharashtra. The Prospectus is available on the website of SEBI at www.sebi.gov.in and on the website of Book Running Lead Manager at www.afsl.co.in and the website of BSE and NSE at www.bseindia.com and www.nseindia.com. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see section titled 'Risk Factors' on page 13 of the Prospectus. This document is not an offer of securities for sale in the United States or elsewhere. The shares of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended ('U.S. Securities Act') or any state securities laws in the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, 'U.S. persons' (as defined in Regulation S), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.