Basis of Allotment
Gokaldas Exports Limited

Gokaldas Exports Limited

(Orignially incroporated as Gokaldas India (Private) Limited on March 1, 2004 under the Companies Act, 1956. The name was changed to Gokaldas Exports (Private) Limited on Decemeber 14, 2004. The company became a Public Limited Company and the word Private was deleted on January 7, 2005)

Registered & Corporate Office: No. 70, Mission Road, Bangalore 560 027.
Tel.:+91 80 5127 2200; Fax: +91 80 2227 4869; Website: www.gokaldasexports.com

BASIS OF ALLOCATION

Public Issue of 3,125,000 Equity Shares of Rs. 10/- each at a Price at Rs.425/- for cash aggregating Rs.132.81 crores (Referred to as the "Issue")

ISSUE PRICE OF RS.425/- PER EQUITY SHARE OF FACE VALUE OF RS.10/- EACH, THE ISSUE PRICE IS 42.5 TIMES OF THE FACE VALUE. THE ISSUE WOULD CONSTITUTE 18.18% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY.

The Isse was made through the 100% Book Building Process wherein up to 60% of the Issue was offered on a discretionary basis to Qualified Institutional Buyers ("QIBs"). Further, not less than 15% of the Issue was available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 25% of the net Issue to the public was available for allocation on a proportionate basis to Retail Bidders, subject to valid bids being received at or above the Issue Price.

The Issue received 152566 applications for 145430912 equity shares resulting in 46.53 times subscription. The details of the application received in the Issue from Retail, Non Institutional and Qualified Institutional Investor categories are as under:

Category No. of Applications No. of Shares Bid Subscription
Qualified Institutional Buyers 200 94165830 50.22
Non Institutional Investors 2312 39661050 84.61
Retail Investors 150054 11604032 14.85

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
375 408285 0.274 148960965 100.00
376 15 0.000 148552680 99.73
377 15 0.000 148552665 99.73
380 15825 0.011 148552650 99.73
385 525 0.000 148536825 99.72
390 18720 0.013 148536300 99.71
392 15 0.000 148517580 99.70
395 180 0.000 148517565 99.70
399 15 0.000 148517385 99.70
400 406260 0.273 148517370 99.70
401 105 0.000 148111110 99.43
403 30 0.000 148111005 99.43
404 15 0.000 148110975 99.43
405 17670 0.012 148110960 99.43
407 30 0.000 148093290 99.42
408 240 0.000 148093260 99.42
410 34500 0.023 148093020 99.42
414 120 0.000 148058520 99.39
415 97005 0.065 148058400 99.39
416 14685 0.010 147961395 99.33
417 30 0.000 147946710 99.32
418 255 0.000 147946680 99.32
420 59910 0.040 147946425 99.32
421 165 0.000 147886515 99.28
422 180 0.000 147886350 99.28
423 30 0.000 147886170 99.28
424 210 0.000 147886140 99.28
425 & at cut off 147885930 99.278 147885930 99.28
148960965 100.00

The Basis of Allotment was finalized in consultation with The Stock Exchange, Mumbai (BSE) on April 19, 2005.

A) Allocation to Retail Investors
The Basis of Allocation to the Retail Investors, who have bid at cut-off or at the Issue Price of Rs.425/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 14.61 times. The total number of share allotted in this category is 781260 Equity Shares. The category-wise details of the Basis of Allocation are as under:

No.of Shares No. of Applications % to Total Total No. of Shares applied % to Total No. of Shares Allocated Ratio Total No. of Shares Allocated
15 17507 11.86 262605 2.30 15 1:14 18810
30 15901 10.78 477030 4.18 15 4:29 32895
45 9714 6.58 437130 3.83 15 6:29 30150
60 10400 7.05 624000 5.46 15 9:32 43875
75 5192 3.52 389400 3.41 15 10:29 26850
90 6723 4.56 605070 5.30 15 5:12 42015
105 82133 55.66 8626965 75.52 15 10:21 586665

B)Allocation  to Non Institutional Investors
The Basis of Allocation to the Non institutional, who have bid at cut-off or at the Issue Price of Rs.425/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 84.32 times. The total number of shares allotted in this category is 468740 Equity Shares. The category-wise details of the Basis of Allocation is as under:

No.of Shares No. of Applications % to Total Total No. of Shares applied % to Total No. of Shares Allocated Ratio Total No. of Shares Allocated
120 142 7.28 17040 0.04 15 1:10 210
135 33 1.69 4455 0.01 15 1:8 60
150 76 3.90 11400 0.03 15 2:17 135
165 21 1.08 3465 0.01 15 3:21 45
180 22 1.13 3960 0.01 15 1:7 45
195 20 1.03 3900 0.01 15 1:6 45
210 69 3.54 14490 0.04 15 1:6 180
225 355 18.20 79875 0.20 15 3:17 945
240 22 1.64 7680 0.02 15 3:16 90
255 17 0.87 4335 0.01 15 3:17 45
270 3 0.15 810 0.00 15 1:3 15
285 2 0.10 570 0.00 15 1:2 15
300 44 2.26 13200 0.03 15 1:4 165
315 3 0.15 945 0.00 15 1:3 15
330 4 0.21 1320 0.00 15 1:4 15
345 13 0.67 4485 0.01 15 2:7 60
360 5 0.26 1800 0.00 15 1:5 15
375 4 0.21 1500 0.00 15 1.4 15
390 2 0.10 780 0.00 15 1:2 15
405 6 0.31 2430 0.01 15 1:3 30
420 3 0.15 1260 0.00 15 1:3 15
435 2 0.10 870 0.00 15 1:2 15
450 26 1.33 11700 0.03 15 1:3 135
465 21 1.08 9765 0.02 15 2:5 120
480 13 0.67 6240 0.02 15 5:13 75
495 9 0.46 4455 0.01 15 4:9 60
510 15 0.77 7650 0.02 15 2:5 90
525 5 0.26 2625 0.01 15 2:5 30
540 3 0.15 1620 0.00 15 2:3 30
570 2 0.10 1140 0.00 15 1:2 15
585 10 0.51 5850 0.01 15 2:5 60
600 20 1.03 12000 0.03 15 3:7 135
615 2 0.10 1230 0.00 15 1:2 15
630 4 0.21 2520 0.01 15 1:2 30
675 2 0.10 1350 0.00 15 1:2 15
705 15 0.77 10575 0.03 15 3:5 135
720 1 0.05 720 0.00 15 FIRM 15
735 6 0.31 4410 0.01 15 2:3 60
750 8 0.41 6000 0.02 15 5:8 75
810 2 0.10 1620 0.00 15 1:2 15
825 2 0.10 1650 0.00 15 1:2 15
840 2 0.10 1680 0.00 15 1:2 15
870 1 0.05 870 0.00 15 FIRM 15
885 1 0.05 885 0.00 15 FIRM 15
900 15 0.77 13500 0.03 15 3:5 135
915 2 0.10 1830 0.00 15 1:2 15
930 10 0.51 9300 0.02 15 3:5 90
945 4 0.21 3780 0.01 15 3:4 45
990 22 1.13 21780 0.06 15 3:4 255
1005 13 0.67 13065 0.03 15 3:4 150
1020 1 0.05 1020 0.00 15 1:2 15
1035 1 0.05 1035 0.00 15 1:2 15
1050 19 0.97 19950 0.05 15 5:6 240
1065 2 0.10 2130 0.01 15 1:2 15
1095 1 0.05 1095 0.00 15 FIRM 15
1125 7 0.36 7875 0.02 15 6:7 90
1140 2 0.10 2280 0.01 15 1:2 15
1170 9 0.46 10530 0.03 15 7:9 105
1185 3 0.15 3555 0.01 15 1:2 30
1200 17 0.87 20400 0.05 15 8:9 225
2010 7 0.36 14070 0.04 24 FIRM 168
3000 17 0.87 51000 0.13 36 FIRM 612
20010 3 0.15 60030 0.15 237 FIRM 711
25005 1 0.05 25005 0.06 297 FIRM 297
35010 1 0.05 35010 0.09 415 FIRM 415
54000 1 0.05 54000 0.14 640 FIRM 640
90000 2 0.10 180000 0.46 1068 FIRM 2136
200010 1 0.05 200010 0.51 2372 FIRM 2372
300000 1 0.05 300000 0.76 3558 FIRM 3558
400500 1 0.05 400500 1.01 4750 FIRM 4750
1264050 1 0.05 1264050 3.20 14991 FIRM 14991
1294200 1 0.05 1294200 3.27 15349 FIRM 15349
3124980 1 0.05 3124980 7.91 37060 FIRM 37060
3124995 4 0.21 12499980 31.63 37060 FIRM 148240

C)Allocation to QIBs

Category FIs/Banks MFs FIIs Insurance Companies VCs Total
No. of Shares 47500 563000 1257500 5000 2000 1875000

The Board of Directors of the company at its Meeting held at Hyderabad on April 20, 2005 has approved the basis of allocation of shares and allotted the shares to various successful applicants.

The despatch of Refund Orders has been made to the address of the investors as registered with the depositories. The refund orders have been printed with the Bank Mandate details as registered, if any, with the depositories. The shares allocated to the successful applicants have been credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. Issuer is taking steps to get the Equity shares admitted for trading on The Stock Exchange, Mumbai and the National Stock Exchange of India Limited within seven working days from the date of approval of basis of allocation.

INVESTORS PLEASE NOTE

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

Karvy Computershare Private Limited
Unit: Gokaldas Exports, Karvy House,
46, Avenue 4, Street No.1, Banjara Hills, Hyderabad - 500034, Fax: 040-23311968
Email: Gokaldasipo@karvy.com or mailmanager@karvy.com

TOLL FREE-HELPLINE NUMBERS: 1-600-334001

Place:  Bangalore
Date :  April 22, 2005

For Gokaldas Exports Limited
Sd/-
L.Nandalal
Company Secretary

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 GOKALDAS EXPROTS LIMITED
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