Basis of Allotment

ReLlANCe Power

RELlANCE Power
Anil Dhirubhai Ambani Group
Reliance Power Limited

Reliance Power Limited, (Our Company was originally incorporated as Bawana Power Private Limited on January 17, 1995 and subsequently changed as Reliance Delhi Power Private Limited on February 1, 1995 and then changed as Reliance EGen Private Limited on January 23, 2004 and then changed as Reliance Energy Generation Private Limited on March 5, 2004 and then changed as Reliance Energy Generation Limited on March 19, 2004 and then changed as Reliance Power Limited on July 4, 2007.)
Registered Office: H Block, First Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai 400 710. www.reliancepower.co.in

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 260,000,000 EQUITY SHARES OF Rs. 10 EACH OF RELIANCE POWER LIMITED ("RELIANCE .POWER" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF Rs. 450* PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs. 440* PER EQUITY SHARE) AGGREGATING TO Rs. 115,632 MILLION (NET OF RETAIL DISCOUNT) (THE "ISSUE"). THE ISSUE COMPRISES A NET ISSUE TO THE PUBLIC OF 228,000,000 EQUITY SHARES AGGREGATING TO Rs. 101,232 MILLION (NET OF RETAIL DISCOUNT) ("THE NET ISSUE") AND A PROMOTERS' CONTRIBUTION OF 32,000,000 EQUITY SHARES AGGREGATING Rs. 14,400 MILLION. THE ISSUE CONSTITUTES 11.5% OF THE POST ISSUE PAID-UP CAPITAL OF THE COMPANY AND THE NET ISSUE CONSTITUTES 10.1 % OF THE POST ISSUE PAID-UP CAPITAL OF THE COMPANY.

ISSUE PRICE: Rs. 450 PER EQUITY SHARE OF FACE VALUE Rs. 10 EACH*
*A discount of Rs. 20 to the Issue Price determined pursuant to completion of Book Building Process has been offered to Retail Individual Bidders ("Retail Discount").

The Issue made through the 100% Book Building  Process wherein at least 60% of the Net Issue was to be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBS") (including 5% of the QIB portion that was to be allocated specifically to mutual funds). Further, at least 10% of the Issue was to be allocated on a proportionate basis to Non-Institutional Bidders and at least 30% of the Net Issue was to be allocated on a proportionate basis to Retail Bidders, subject to valid bids, being received at or above the Issue Price.

The Issue received 48,02,930 applications for 1599,71,29,272 equity shares resulting in 61.52 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Individual Investor categories are as under: (Before technical rejections)

Category No. of
Applications
No. of Shares Subscription
Qualified Institutional Buyers 446 11299720185 82.60
Non Institutional Investors 21592 . 3706983112 162.59
Retail Individual Investors 4780891 958425975 14.01

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

Bid Price No. of Shares % to Total Cumulative
Total
Cumulative %
to total
Rs.405 6763590 0.04 16645636395 100.00
Rs.430 9282000 0.06 16638872805 99.96
Rs.450 & Cut Off Price 16629590805 99.90 16629590805 99.90
16645636395 100.00

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited ("BSE") on February 1st, 2008.

A. Allocation to Retail Individual Investors (After Technical Rejections)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs.450 per Equity Share, was finalized in consultation with BSE. The category was over subscribed 13.572340 times. The total number of shares allotted in this category is 6,84,00,000 Equity Shares to 41,73,929 successful applicants. The category-wise details of the Basis of Allocation are as under:

Category No. of
Applns.
% to
total
Total No. of
Shares
applied
% to
total
No. of
Shares
allocated
Ratio Total No. of
Shares
allocated
15 60176 1.30 902640 0.10 15 2:27 66855
30 82844 1.79 2485320 0.27 15 4:27 184095
45 67812 1.47 3051540 0.33 15 2:09 226035
60 112793 2.44 6767580 0.73 15 8:27 501300
75 40359 0.87 3026925 0.33 15 10:27 224220
90 70934 1.53 6384060 0.69 15 4:09 472890
105 151763 3.28 15935115 1.72 15 14:27 1180380
120 66497 1.44 7979640 0.86 15 16:27 591090
135 19057 0.41 2572695 0.28 15 2:03 190575
150 57122 1.24 8568300 0.92 15 20:27 634695
165 14203 0.31 2343495 0.25 15 5:06 177540
180 30708 0.66 5527440 0.60 15 8:09 409440
195 19752 0.43 3851640 0.41 15 FIRM 296280
210 172499 3.73 36224790 3.90 15 FIRM 2587485
ADDITIONAL 1 1:147 1173
225 3656564 79.09 822726900 88.62 16 FIRM 58505024
ADDITIONAL 1 10:17 2150923

B. Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to the Non institutional Investors, who have bid at the Issue Price of Rs.450 per Equity Share, was finalized in consultation with BSE. The category was subscribed 159.556149 times. The total number of shares allotted in this category is 2,28,00,000 Equity Shares to 11,862 successful applicants. The category-wise details of the Basis of Allocation (Sample) are as under:

Category No. of
Applns.
% to
total
Total No. of
Shares
applied
% to
total
No. of
Shares
allocated
Ratio Total No. of
Shares
allocated
240 782 3.81 187680 0.01 15 1:10 1170
255 280 1.36 71400 0.00 15 1:9 465
270 122 0.59 32940 0.00 15 1:9 210
285 54 0.26 15390. 0.00 15 1:9 90
300 841 4.09 252300 0.01 15 1:8 1575
6000 67 0.33 402000 0.01 38 FIRM 2546
50010 8 0.04 400080 0.01 313 FIRM 2504
100005 24 0.12 2400120 0.07 627 FIRM 15048
500010 8 0.04 4000080 0.11 3134 FIRM 25072
1500000 8 0.04 12000000 0.33 9401 FIRM 75208
3000000 4 0.02 12000000 0.33 18802 FIRM 75208
000000 9 0.04 54000000 1.48 37604 FIRM 338436.
6600000 3 0.01 19800000 0.54 41365 FIRM 124095
6900000 1 0.00 6900000 0.19 43245 FIRM 43245
7047000 1 0.00 7047000 0.19 44166 FIRM 44166
7440000 1 0.00 7440000 0.20 46629 FIRM 46629
7500000 4 0.02 30000000 0.82 47006 FIRM 188024
8700000 1 0.00 870Q000 0.24 54526 FIRM 54526
9000000 1 0.00 9000000 0.25 56406 FIRM 56406
10000005 1 0.00 10000005 0.27 62674 FIRM 62674
12000000 1 0.00 12000000 0.33 75209 FIRM 75209
16500000 5 0.02 82500000 2.27 103412 FIRM 517060
33300000 1 0.00 33300000 0.92 208704 FIRM 208704
39000000 1 0.00 39000000 1.07 244427 FIRM 244427
42000000 2 0.01 84000000 2.31 263220 FIRM 526440

C. Allocation 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 shares available (68,40,000) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (12,99,60,000) on proportionate basis.

Category FIs/Banks MFs FIIs VCs ICs Total
No.of Shares 1,78,54,685 89,33,171 10,43,89,202 2,53,186 53,69,756 13,68,00,000

The Committee of the Board of Directors of the company at its Meeting held at Murnbai on 1 st February, 2008 has approved the basis of allocation of shares of the Issue and has allotted the shares to various successful applicants.

The CAN-cum-Refund Orders and allotment advice and notices have 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 fully paid-up 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 allocation.

INVESTORS PLEASE NOTE

This details of the allocation made would be hosted on the website of Registrar to the Issue, Karvy Computershare Private Limited at http://kcpl.karvy.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:

Karvy Computershare Private Limited
(Unit: Reliance Power - IPO)
Plot No. 17 to 24, Vittal Rao Nagar. Madhapur.
Hyderabad - 500081, Tet.: +91 40 234 20815 / 2342 0816
Fax: 040-2342 0859. Email: einward.ris@Karvy.com

TOLL FREE - HELPLINE NUMBER: 1 -800-3454001

Place : Murnbai
Date :  February 4, 2008
For Reliance Power Limited
Sd/-
Paresh Rathod
Company Secretary and Compliance Officer

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 RELIANCE POWER LIMITED.

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