Basis of Allotment

AMAR REMEDIES LIMITED

AMAR REMEDIES LIMITED

Registered Office : 207, Roop Raj Building, 497, S.V.P. Road, Opera House, Mumbai 400004.
Tel: +91 22 56340591 (3Lines) Fax: +91 22 23866625, Contact Person: Mr. Hemal shah
        Email: ipo@amarremedies.com Website: www.amarremedies.com

    INTIAL PUBLIC OFFERING OF 1,50,00,000 EQUITY SHARES OF RS. 10/- EACH AT A PRICE OF RS. 28/- FOR CASH AGGREGATING TO RS. 4200 LAKHS (HEREINAFTER REFERRED TO AS THE "ISSUE").  THE ISSUE WOULD CONSTITUTE 57.33% OF THE FULLY DILUTED POST ISSUE PAID UP CAPITAL OF THE COMPANY
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    THE ISSUE PRICE IS 2.8 TIMES OF THE FACE VALUE

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The issue was made through the 100% book-building process wherein upto 50% of the issue was to be allocated on a discretionary basis to Qualified institutional Buyers. Further, not less than 15% of the issue was to be made available for allocation on a proportionate basis to Non-institutional Bidders and not less than 35% of the issue was to be made available for allocation on a proportionate basis to Retail Bidders, subject to valid Bids being recevied at or above the issue Price.

BASIS OF ALLOCATION

The Board of Directors of Amar Remedies Ltd. wish to thank the investing public for their response to the issue which opened on August 25, 2005. and closed on August 31, 2005. The issue received 1,97,990 valid bids for 53,35,46,000 Equity Shares resulting in 35.57 times subscription. The details of the applications received in the issue from Retail individuals, Non-institutional and Qualified  institutional Buyers categories as under:

Category No. of valid
Aplications
No of Shares suscription
Retail investors 1,97,463 29,60,81,750 56.396
Non Insititutional Investors 477 18,72,79,750 82.235
Qualified Institutional Buyers 50 5,01,84,500 6.718

Final Demand
A Sample of the final demand at different bid price is as under:

Bid Price No. of
Shares
% to Total Cumulative
Total
Cumulative %
24 18575500 2.94 569298000 18.14
25 686000 0.11 567761500 18.09
26 51161750 8.09 567703750 18.09
27 1138250 0.18 560469250 17.86
28 & cut off 560629250 88.68 872935250 27.82
100.00

The Basis of Allotment was approved by Bombay Stock Exchange Limited ("BSE") on Septemeber 13, 2005.

A) Allocation to Retail Investors
The Basis of Allocation to the Retail Investors, who have bid at cut-off or at above offer Price of Rs.28/- per Equity Share, was finalized in consultation with BSE, Mumbai on a proportionate basis after rounding off to the nearest integer. The category was oversubscibed 56.39652 times. The total number of shares allocated in this category is 52,50,000 Equity Shares. The category-wise details of the Basis of Allocation is as under:

Category No. of
Applns.
%
to total
Total
No.of
Shares
%
to total
No. of
shares allocated
Ratio Total No.
of shares
allocated
250 19079 9.66 4769750 1.61 250 1:57 84250
500 22216 11.25 11108000 3.75 250 2:57 196500
750 9733 4.93 7299750 2.47 250 1:19 129250
1000 23583 11.94 23583000 7.97 250 1:14 419000
1250 7012 3.55 8765000 2.96 250 1:11 155750
1500 9822 4.97 14733000 4.98 250 2:19 260750
1750 80681 40.86 141191750 47.69 250 17:137 2503000
2000 1473 0.75 2946000 1.00 250 1:7 52500
2250 360 0.18 810000 0.27 250 1:6 15000
2500 815 0.41 2037500 0.69 250 2:11 37000
2750 257 0.13 706750 0.24 250 1:5 12750
3000 608 0.31 1824000 0.62 250 1:5 32000
3250 307 0.16 997750 0.34 250 2:9 17250
3500 21517 10.90 75309500 25.44 250 34:137 1335000

B) Allocation to Non Institutional Investors
The Basis of Allocation to the Non institutional Investors, who have bid for at or above the Issue Price of Rs. 28/- per Equity Share, was finalized in consultation with BSE, Mumbai on a proporationate basis after rounding off to the nearest integer. The category was oversubscribed 83.23544 times. The total numberr of shares allocated in this category is 22,50,000 Equity Shares. A sample of category-wise details of the Basis of Allocation is as under:

Category No. of
Applns.
%
to total
Total
No.of
Shares
%
to total
No. of
shares allocated
Ratio Total No.
of shares
allocated
3750 23 4.82 86250 0.05 250 4:23 1000
4000 11 2.31 44000 0.02 250 2:11 500
4250 9 1.89 38250 0.02 250 2:9 500
5000 14 2.94 70000 0.04 250 3:14 750
6000 19 3.98 114000 0.06 250 5:19 1250
10000 19 3.98 190000 0.10 250 9:19 2250
11000 2 0.42 22000 0.01 250 1:2 250
25000 13 2.73 325000 0.17 300 FIRM 3900
50000 8 1.68 400000 0.21 601 FIRM 4808
75000 10 2.1 750000 0.40 901 FIRM 9010
100000 20 4.19 2000000 1.07 1201 FIRM 24020
125000 6 1.26 750000 0.40 1502 FIRM 9012
150000 1 0.21 150000 0.08 1802 FIRM 1802
175000 1 0.21 175000 0.09 2102 FIRM 2102
200000 9 1.89 1800000 0.96 2403 FIRM 21627
250000 3 0.63 750000 0.40 3004 FIRM 9012
275000 1 0.21 275000 0.15 3304 FIRM 3304
1000000 2 0.42 2000000 1.07 12014 FIRM 24028
1250000 1 0.21 1250000 0.67 15018 FIRM 15018
2500000 3 0.63 7500000 4.00 30035 FIRM 90105
3600000 1 0.21 3600000 1.92 43251 FIRM 43251
4000000 1 0.21 4000000 2.14 48056 FIRM 48056
7500000 2 0.42 15000000 8.01 90100 FIRM 180200
8279000 1 0.21 8279000 4.42 99415 FIRM 99415
15000000 3 0.63 45000000 24.03 180112 FIRM 540336

C) Alloaction to QIB's

Category Fls/
Banks
MFs Flls Insurance
Companies
VCs Others Total
No. of
Shares
334800 1787750 5377450 - - - 75,00,000

The Board of Directors Amar Remedies Limited at its Meeting held at Mumbai on September 13, 2005 has approved the basis of allocation of shares and allocated the shares to various successful applicants. The despatch of Refund Orders has been completed by September 15, 2005 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. The company is taking steps to get the Equity shares admited for trading on the Bombay Stock Exchange Limited and on The National Stock Exchange of India Limited, Mumbai 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 Offer,
Intime Spectrum Registry Limited at www.intimespectrum.com .

All futut 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
Unint: Amar Remedies Limited, C-13, Pannalal Silk Mills Compound,
L.B.S Marg, Bhandup (West), Mumbai- 400078.
Tel 022-55555491-94 Fax 022-55555499
Email: amarrem@intimespectrum.com Website: www.intimespectrum.com

Place: : Mumbai
Date  : September 15, 2005

For Amar Remedies Limited
Sd/-                 
Hemal Shah          
Compliance Officer    

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF AMAR REMEDIES LIMITED

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