Basis of Allotment
UTV SOFTWARE COMMUNICATIONS LIMITED

UTV SOFTWARE COMMUNICATIONS LIMITED

Registered & Corporate Office: Paarijaat House, 1076, Dr. E Moses Road, Worli Naka, Mumbai 400 018.
Tel: 91-22-2490 5353, Fax: 91-22-2490 5370, Email: ipo@utvnet.com Website: www.utvnet.com
(Originally incorporated as 'United Software Communications Private Limited' on June 22, 1990 in Mumbai under the Companies Act, 1956. The Company became a deemed Public Limited Company and the word 'Private' was deleted on November 27, 1995. The company amended its Articles of Association at the Extra-Ordinary General Meeting held on May 8, 2000 after which the Company became a Public Limited Company. The name was changed 'UTV Software Communications Limited' with effect from March 19,1998, hereinafter referred to as ("UTV/The company/The Issuer")

BASIS OF ALLOCATION

PUBLIC ISSUE OF 6,999,950 EQUITY SHARES COMPRISING FRESH ISSUE OF 4,500,000 EQUITY SHARES OF RS. 10/- EACH AT A PRICE OF RS.130/- PER SHARE FOR CASH AGGREGATING RS.5,850.00 LAKHS AND OFFER FOR SALE OF 2,499,950 EQUITY SHARES OF RS. 10 EACH AT A PRICE OF RS. 130/- PER SHARE FOR CASH AGGREGATING RS. 3,249.94 (HEREINAFTER REFERRED TO AS THE "ISSUE"). COMPRISING RESERVATION OF 349,950 EQUITY SHARES FOR EMPLOYEES ON A COMPETITIVE BASIS;

NET ISSUE TO PUBLIC OF 6,650,000 EQUITY SHARES. THE 'NET ISSUE TO PUBLIC' WOULD CONSTITUTE 34.11% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY.

THE FACE VALUE OF THE EQUITY SHARES IS Rs. 10 AND THE ISSUE PRICE IS 13.00 TIMES OF THE FACE VALUE.

The Issue was made through the 100% book-building process wherein upto 50% of the Net Issue to Public was to be allocated on a discretionary basis to Qualified Institutional Buyers. Further, not less than 25% of the Net Issue to Public was to be made available for allocation on a proportionate basis to Retail Individual investors, subject to valid Bids being received at or above the Issue Price.

The Issue received 2,75,662 bids for 182,870,888 equity shares resulting in 26.12 times subscription. The details of the applications received in the issue from Employees, Retail individual, Non-institutional and Qualified Institutional investor categories as und: (before technical rejections)

Category No. of Applications No. of shares bid Subscription#
Qualified Institutional Buyers 69 61777950 18.57
Non Institutional Investors 2842 57810750 34.77
Retail Investors 272695 63078088 37.94
Employees 56 204100 58.32

# Including bid received at cut-off price.
Final Demand

A sample of the final demand a different bid prices is as under:

Bid Price No. of Shares % to Total Cumulative Total Cumulative %
116 750 0.000 184745350 100.000
117 300 0.000 184744600 100.000
118 1250 0.001 184744300 99.999
119 350 0.000 184743050 99.999
120 930800 0.504 184742700 99.999
121 7650 0.004 183811900 99.495
122 17300 0.009 183804250 99.491
123 3300 0.002 183786950 99.481
124 46000 0.025 183783650 99.479
125 488750 0.265 183737650 99.455
126 8250 0.004 183248900 99.190
127 1050 0.001 183240650 99.186
128 1950 0.001 183239600 99.185
129 850 0.000 183237650 99.184
130 & cut off 183236800
184745350		 99.183
100.000		 183236800 99.183

The Basis of Allotment was finalised in consultation with the The National Stock Exchange of India Limited ("NSE") on 10th March, 2005.

A) Employees

The Basis of Allocation to the employees of the UTV Software Communications Limited, who have bid at cut-off or at the issue Price of Rs. 130/- per Equity Share, was finalized in consultation with NSE. The total number of  shares allotted in this category is 204100. The allotment was full & firm for all valid bids.

B) Allocation to Retail Individual Investors

The Basis of Allocation to the Retail Investors, who have bid at cut-off or at the Issue Price of Rs. 130/- per Equity Share, was finalized in consultation with NSE. The category was oversubscribed 35.983 times. The total number of shares allotted in this category is 1735450 Equity Shares. The category-wise details of the Basis of Allocation is as under:

Category No. of
Applications		 % to
Total		 Total No.of
Shares Applied
 % to
Total		 No. of Shares
Allocated		 Ratio Total No.of
Shares Allocated
50 35643 13.21 1782150 2.85 50 1:36 49500
100 49157 18.22 4915700 7.87 50 1:18 136550
150 14620 5.42 2193000 3.51 50 1:12 60900
200 30233 11.21 6046600 9.68 50 1:9 167950
250 7460 2.76 1865000 2.99 50 12:85 52650
300 15940 5.91 4782000 7.66 50 1:6 132850
350 116749 43.27 40862150 65.44 50 7:36 1135050

C) Allocation to Non Institutional Investors

The Basis of Allocation to the Non Institutional Investors, who have bid for at the Issue Price of Rs. 130/- per Equity Share, was finalized in consultation wiht NSE. The category was oversubscribed 33.123 times. The total number of shares allotted in this category is 1735400 Equity Shares. A sample of category-wise details of the Basis of Allocation is as under:

 

Category No. of
Applications		 % to
Total		 Total No.of
Shares Applied
 % to
Total		 No. of Shares
Allocated		 Ratio Total No.of
Shares Allocated
400 257 9.98 102800 0.18 50 3:11 3500
450 27 1.05 121550 0.02 50 1:3 450
500 400 15.54 200000 0.35 50 3:10 6000
550 16 0.62 8800 0.02 50 1:3 250
600 36 1.40 21600 0.04 50 1:3 600
650 15 0.58 9750 0.02 50 1:3 250
700 62 2.41 43400 0.08 50 1:3 1350
750 55 2.14 41250 0.07 50 3:7 1200
800 55 2.14 44000 0.08 50 1:2 1400
850 7 0.27 5950 0.01 50 2:3 200
900 12 0.47 10800 0.02 50 3:5 300
100950 3 0.12 28550 0.00 50 2:3 100
1000 217 8.43 21700 0.38 50 2:3 6500
1050 15 0.58 15750 0.03 50 2:3 500
1100 13 0.51 14300 0.02 50 2:3 450
1150 14 0.54 16100 0.03 50 3:5 450
1200 12 0.47 14400 0.03 50 5:7 400
1250 5 0.19 6250 0.01 50 2:3 150
1300 7 0.27 9100 0.02 50 4:7 250
1350 3 0.12 4050 0.01 50 FIRM 100
1400 7 0.27 9800 0.02 50 7:8 200
1450 1 0.04 1450 0.00 50 4:5 50
1500 80 3.11 12000 0.21 50 FIRM 3500
1550 10 0.39 15500 0.03 50 FIRM 400
2500 29 1.13 72500 0.13 75 FIRM 2175
5000 41 1.59 205000 0.36 151 FIRM 6191
10000 121 4.70 1210000 2.10 302 FIRM 36542
50000 14 0.54 700000 1.22 1510 FIRM 21140
100000 27 1.05 2700000 4.70 3019 FIRM 81513
200000 7 0.27 1400000 2.44 6038 FIRM 42266
210000 1 0.04 210000 0.37 6340 FIRM 6340
225000 1 0.04 225000 0.39 6793 FIRM 6793
228000 1 0.04 228000 0.40 6883 FIRM 6883
230700 1 0.04 230700 0.40 6965 FIRM 6965
230750 1 0.04 230750 0.40 6966 FIRM 6966
247300 1 0.04 247300 0.43 7664 FIRM 7466
253850 2 0.08 507700 0.88 7664 FIRM 15328
307700 1 0.04 307700 0.554 9289 FIRM 9289
310000 1 0.04 310000 0.54 9359 FIRM 9359
370000 1 0.04 370000 0.64 11170 FIRM 11170
384600 11 0.43 4230600 7.36 11611 FIRM 127721
385000 1 0.04 385000 0.67 11623 FIRM 11623
400000 2 0.08 800000 1.39 12076 FIRM 24152
1000000 1 0.04 1000000 1.74 30190 FIRM 30190
1500000 1 0.04 1500000 2.61 45285 FIRM 45285
1538400 1 0.04 1538400 2.68 46444 FIRM 46444
1700000 1 0.04 1700000 2.96 51323 FIRM 51323
1920000 1 0.04 1920000 3.34 57964 FIRM 57964
2307600 1 0.04 2307600 4.01 69666 FIRM 69666
6650000 1 0.04 6650000 11.57 200735 FIRM 200735

D) Allocation to QIBs

Category Fls/Blanks MFs FIIs Insurance Companies VCs Others Total
No. of Shares 83500 673000 2568500 - - - 3325000

The Board of Directors of UTV at its Meeting held at Mumbai on March 11,2005 has approvedthe basis of allocation of shares and alloted the shares to various successful applicants.

The despatch of Refund Orders has been completed by March 12, 2005 to the address 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 succesful applicants have been credited to their beneficiary accounts subject to validation  of the accounts details with the depositories concerned. Issuer is taking steps to get the Equity shares admitted for trading on the National Stock Exchange of India Limited and on The Stock Exchange, Mumbai within the stipulated time period.

INVESTORS PLEASE NOTE

This details of the allocation made has been hosted on the wbsite   of Registrars to the Issue, Karvy Computershares Private Limited at www.karvy.com or http://karisma.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 form name of the Member of the Syndicate and Place where the bid submitted and payment details at the address given below:

                                      Karvy Computershares Private Limited
                                      Unit: UTV Software Karvy House,
                                      46, Avenue 4, 'Street No.1, Banjara Hills, Hyderabad-500034,Fax:040-23311968
                                      Email: utvlp@karvy.com website: www.karvy.com
                                     TOLL FREE - HELPLINE NUMBER:1-600-334001

Place: Mumbai
Date:  March 14,2005

for UTV Software Ccommunications Limited

sd/-

Mohd.Sajid Ali
Company Secretary

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF UTV SOFTWARE COMMUNICATIONS LIMITED.
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