Basis of Allotment

TRIVENI ENGINEERING

TRIVENI ENGINEERING & INDUSTRIES LIMITED

(Incorporated on July 27, 1932 under the Companies Act, 1913 as The Ganga Sugar Corporation Limited.
The name of hte Company was changed to Gangeshwar Limited on April 3, 1973 and subsequently to
Triveni Engineering & Industries Limited on March 31, 2000.)

Regd Office : Deoband, District Saharanpur, Uttar Pradesh, 247 554.
Tel:+91-1336-222866, Fax:+91-1336-222220. Website: www.trivenigroup.com Email: triveni.ipo@karvy.com

BASIS OF ALLOCATION

PUBLIC ISSUE OF 50,000,000 EQUITY SHARES OF RS.1 EACH FOR CASH AT A PRICE OF RS. 48/- PER EQUITY SHARE AGGREGATING RS.2400.00 MILLION (REFERRED TO AS 'THE ISSUE"). THE ISSUE WILL CONSTITUTE 19.39% OF THE FULLY DILUTED POST ISSUE CAPITAL OF THE COMPANY.

THE FACE VALUE PER EQUITY SHARE IS RS.1/- EACH FOR CASH AT A PRICE OF RS.48/- EACH AND THE ISSUE PRICE IS 48 TIMES OF THE FACE VALUE.

The Issue made through the 100% Book Building Process wherein up to 50% of the Issue to the public was to be allocated on a discretionary basis to Qualified Institutional Buyers ("QIBs"). Further, not less than 15% of the Net Issue to the public shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue to the public shall be 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 58616 applications for 503889741 equity shares resulting in 10.07 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Investor categories are as under:

Category

No. of Applications No. of Shares Subscription
Qualified Institutional Buyers 92 457430250 18.29
Non Institutional Investors 286 11233750 1.49
Retail Investors 58238 35225741 2.01

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
42 1146625 0.22 518422500 100.00
43 5250 0.00 517275875 99.78
44 52000 0.01 517270625 99.78
45 11558375 2.23 517218625 99.77
46 313500 0.06 505660250 97.54
47 174750 0.03 505346750 97.48
48 43750 0.01 505172000 97.44
49 7500 0.00 505128250 97.44
50 & Cut Off 505120750 97.43 505120750 97.43
518422500 100.00

The Basis of Allotment was finalized in consultation with Bombay Stock Exchange Limited ("BSE") on 6th December, 2005.

A. Allocation to Retail Investors

The Basis of Allocation to the Retail Investors, who have bid at cut-off or at and above the Issue Price of Rs.48/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 1.94 times. The total number of shares allotted in this category is 17500000 Equity Shares. The category-wise details of the Basis of Allocation are as under:

Category No. Of Appins. % to total Total No. of
Shares applied
% to total No. of Shares allocated Ratio Total No. of
Shares allocated
125 12049 21.41 1506125 4.43 125 30:59 766125
250 10740 19.09 2685000 7.90 129 FIRM 1385460
750 1936 3.44 1452000 4.27 386 FIRM 747296
875 9860 17.52 8627500 25.39 451 FIRM 4446860
1000 2991 5.32 2991000 8.80 515 FIRM 1540365
1500 273 0.49 409500 1,21 773 FIRM 211029
1875 600 1.07 1125000 3.31 966 FIRM 579600
2000 4013 7.13 8026000 23.62 1030 FIRM 4133390
1 1:85 48

B. Allocation to Non Institutional Investors

The Basis of Allocation to the Non institutional, who have bid at and above the Issue Price of Rs.48/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 1.49 times. The total number of shares allotted in this category is 7500000 Equity Shares. 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
2125 22 7.83 46750 0.42 1420 FIRM 31240
10000 16 5.69 160000 1.43 6683 FIRM 106928
40000 5 1.78 200000 1.78 26731 FIRM 133655
100000 17 6.05 1700000 15.15 66829 FIRM 1136093
200000 7 2.49 1400000 12.47 133657 FIRM 935599
254000 1 0.36 254000 2.26 169744 FIRM 169744
600000 1 0.36 600000 5.35 400971 FIRM 400971
900000 1 0.36 900000 8.02 601457 FIRM 801457
1000000 1 0.36 1000000 8.91 668274 FIRM 668274

C. AIIocatlon to QIBs

Category Fls/Banks MFs File Insurance Companies Total
No. of Shares 1115000 13724672 8296560 1863768 25000000

The committee of Directors for Public Issue of the company at it's meeting held at Hyderabad on 7th December, 2005 has approved the basis of allocation of shares and allotted the shares to various successful applicants.

The Refund Orders will be 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 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 allocation.

INVESTORS PLEASE NOTE

This details of the allocation made would be hosted on the website of Registrars to the Issue, Karvy Computershars 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: Triveni, Karvy House,
46, Avenue 4, Street No.1, Banjara Hills,
Hyderabad - 500034, Fax: 040-23311968
Email: triveni.ipo@karvy.com and mailmanager@karvy.com

TOLL FREE - HELPLINE NUMBERS
1-600-3454001

 


Place: Noida
Date: December 9, 2005

For Triveni Engineering & Industries Limited

Sd/-
V P Ghullani

Vice President (Legal) & 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 THE COMPANY.

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