Basis Of Allotment

Basis of Allotment

NITIN SPINNERS LIMITED

NITIN SPINNERS LIMITED

(Originally incorporated as Nitin Spinners Private Limited on 15th October, 1992 under the Companies Act, 1956. Subsequently, our Company was converted into a Public Limited Company on 15th November, 1994.)

Registered Office: 16-17 Km. Stone, Chittor Road, Hamirgarh, Bhilwara-311 025.
(Initially, our registered office was situated at B-86, Shastri Nagar, Bhilwara, Rajasthan, which was
subsequently changed to our current registered office)
Tel:+91-1482-286110 to 13, Fax:+91-1482-286114
Website: www.nitinspinners.com, E-Mail: ipo@nitinspinners.com

BASIS OF ALLOTMENT

Public Issue of 2,33,33,945 Equity Shares of Rs. 10/- each for cash at a premium of Rs. 11/- per Equity Share aggregating Rs. 4900 Lacs.

The Basis of Allotment of Public Issue was approved by Bombay Stock Exchange Limited on January 24, 2006. The IPO Committee of the Company at its Meeting held at Bhilwara on 25^th Janurary, 2006 at 10:00 am allotted the shares to the successful applicants. Details of valid applications received & allotments done are as under:

PUBLIC ISSUE

The details of valid applications received in the Issue from Retail Category, Corporates / Institutions (Non Retail Category) / Employte's / QIBs / are as under:

Category	No. of valid Applications	No. of Shares	Subscription (No. of times)
Retail	149779	238869600	38.13
QIBs	47	70353000	7.88
Non- Retail	398	74920500	27.83
Employees	109	1162800	0.98

A. Allotment of Retail Investors.

The total number of shares allotted in this category is 62,64,000 Equity Shares (69.93% of total shares offered to Public other than QIB have been allotted to Retail category). The category-wise details of allotment are given below. Each allottee has bean allotted 300 shares.

Category	No. of valid Applications	% to total	Ratio	Category	No. of valid Applications	% to total	Ratio
300	25008	16.70	1:38	2700	459	0.31	4:17
600	21303	14.22	1:19	3000	973	0.65	11:42
900	16607	11.09	7:89	3300	210	0.14	9:31
1200	13011	8.69	9:86	3600	216	0.14	17:54
1500	7152	4.78	8:61	3900	135	0.09	31:91
1800	4020	2.68	11:70.	4200	370	0.25	25:66
2100	43811	29.25	9:49	4500	14638	9.77	24:61
2400	1866	1.25	13:62

B. Allotment to Nan Retail Category (Individuals who have applied for more than 4800 shares, Bodies Corperates / Institutions)

The total number of shares allotted in this category is 26,92,857 Equity Shares (30.07% of total shares offered to Public other than QIB have been aloloted to non retail category).

Category	No. of valid Applications	% to total	Ratio
4800	59	14.82	34:59
5100	44	11.06	27:44
5400	4	1.01	3:4
6000	8	2.01	3:4
7500	9	2.26	8:9
6300,7200 & 7800 onwards	FIRM		PROPORNTIONATE

C. AIlotment to Employess

The Company has received 109 valid applications for 11,62,800 equity shares against 11,90,476 equity shares offered resulting in under subscription. The under subscription portion of 27,676 shares have been added to the shares allotted to Retail & Non - Retail category in the proportion of 50% to each category. All applicants have been allotted shares on a full & firm basis and the total no of shares allotted in this category is 11,62,800 Equity Shares.

D. Allotment to Qualified Institutional Buyers (QIBs)

The Company has received 47 valid applications for 7,03,53,000 Equity share against 89,28,571 Equity shares offered resulting in over subscription of 7.88 times. The allotment to QIB category is done on a DISCRETIONARY basis.

Dates of dispatch of Refund Orders, Credit to beneficiary Accounts and Listing details
Activity	Date of Completion
Approval of Basis of Allotment by BSE	24/01/2006
Despatch of Allotment Advices and Refund Orders	27/01/2006
Listing Application to BSE & NSE	27/01/2006
Electronic Credit to Beneficiary A/c with CDSL and NSDL	27/01/2006
Listing & Trading Permission from BSE & NSE	01/02/2006

The Refund Orders have been despatched to the sole/ first applicant at 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 with the depositories. The shares allocated to 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 admitted for trading on Bombay Stock Exchange Limited (BSE) and National Stock Exchange of India Limited (NSE) within seven working days from the date of approval of the basis of allocation.

INVESTORS PLEASE NOTE
The details of the allocation made would be hosted on the website of the Registrars to the issue, Bigshare Services Private Limited at www.bigshareonline.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 No. of the Application form, number of shares applied for and the name of the Bank branch where the application was lodged at the following address given below:

Bigshare Services Private Limited,
E-2/3, Ansa Industrial Estate, Saki Vihar Road, Saki Naka, Andheri (E) Mumbai - 400 072.
Tel: 022- 2847 0652. Fax: 022 - 2847 5207, Email: ipo@bigshareonline.com

Place: Mumbai
Date: 1st February, 2006

For Nitin Spinners Limited

Sd/-
R.L. Nolkha
Chairman & Managing Director

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 NITIN SPINNERS LIMITED.