Basis Of Allotment

Basis of Allotment

Sah Petroleums Limited

Sah Petroleums Limited

(Incorporated on 6^thJuly as a Private Limited Company and become a deemed limited company on 17^th October 1989 styled as Sah Petroleum Limited. Due to deletion of the Provisions of section 43A, It converted into a Private Limited Company and subsequently was converted into a Limited Company with effect from 10^th March 2004.)

Registered Office:406/407, Embassy Centre, Nariman Point, Mumbai-400 021
Phone Nos. 022-56301911/ 22873097; Fax ; 022-22875751 ; Email : ipol@sahpetroleum.com

Public Issue of 90,80,000 Equity Shares of Rs. 5/- each for cash at a premium of Rs. 30/- each aggregating to Rs.3178 Lakhs.

BASIS OF ALLOTMENT

The Board of Directors of Sah Petroleums Limited (SPL) thank the investing public for their response the Public Offer of Equity Shares of the Company which opened for Subscription on August 30, 2004 and closed on September 6, 2004. The Company has received 18589 valid applications for a total of 10199850 Equity Shares resulting in over-subscription of 1.12 times. The Basis of Allotments was finalised on 16^thSeptember 2004 in consultation with The National Stock Exchange of India Limited. Allotments have been made on proportionate basis with in the specified categories, rounded off to the nearest integer subject ot a minimum allotment of 150 Shares per applicant. The board of Directors have allotted the shares at their meeting held on 17^thSeptember 2004 as per the details given below:

1. Retail category (Individual investors applying upto 1350 shares)

The Company has received 18469 valid applications for a total of 8487150 Equity Shares which is 83.21% of the total subscription received. The details of category-wise allotments are given below:

Category	No. of shares allotted	No. of allottees	Total no. fo shares allotted	Ratio
150	150	6152	922800	89:100
300	267	4991	1332597	1:1
450	401	850	340850	1:1
600	534	1902	1015668	1:1
750	668	717	478956	1:1
900	801	339	271539	1:1
1050	935	197	184195	1:1
1200	1068	518	553224	1:1
1350	1202	2043	2455686	1:1

2. Non-retail category - Individuals above 1350 shares, Corporates, Institutions and others.

The Company has received 120 valid applications for a total of 1712700 Equity Shares which is 16.79% of the total subscription received. Allotments have been made to all appilcants in this category on firm basis, in proportion to the invers of subscription ratio, rounded of to the nearest intiger.

Details of allotments made under this category are :

Category	No. of shares alloted	No. of allotees	Total no. of shares allotted	Ratio
1500 & above	Proportionate	120	1524485	1:1

1. Refund orders, wherever applicable, have ben dispatched on 20/09/2004.

2. The Beneficiary Account of allottees with NSDL/ CDSL have been credited on 20/09/2004.

3. SPL has submitted listing applications to the National Stock Exchange of India Limited (NSE) and the Stock Exchange, Mumbai (BSE) on 20/09/2004.

All future correspondence in respect the applications lodged by the investors should be addressed to the Registrars to the Issue quoting Full Name of the first applicant, Serial No. of the application form, No. of shares applied for and Name of the Bank branch where the application was lodged, at the following address :

Karvy Computershare Private Limited
(Unit: Sah Petroleums Limited)
Karvy House, 46, Avenue 4, Street No. 1,
Banjara Hills, Hyderabad -500 034
Telephone Nos. 040-23320251/ 23312454; Fax No. 040-23431551
Email: mailmanager@karvy.com

Place : Mumbai For Sah Petroleums Limited
Date : September 21, 2004 Sd/- Aditya Sah Joint Managing Director