Basis of Allotment

Shringar Cinemas Ltd

Shringar Cinemas Ltd.

(Our Comapany was incoporated on October 26,1999 as "Shirgar Cinemas Private Limited" and converted into a public company "Shrigar Cinemas Limited" on December 19,2004 under the Comapnies Act 1956.)

Registered Office: B/103, Kailash, Juhu Church Road. Juhu, Mumbai-400049. India

Tel:+91 22 2625 5900: Fax:: +91 22 2625 5272:

Website: www.shrigar.co.in: Email: shrigaripo@shirnga.co.in

Corporate office: Fame Adlabs, 2nd Floor, Andheri Link Road, Oshiwar, Andheri (w),
Mumbai 400 053 (India) Tel: +91-22-5640 3640

BASIS OF ALLOCATION

Public Issue of 81,50,000 Equity Shares of Rs. 10 each for cash at a price of Rs. 53 per Equity Share aggregating Rs. 4319.50 Lacs, (the "Issue") by Shrigar Cinemas Limited ("Shrigar Cinemas" or the " Company" or the "Issuer"). The face value of the Equity Shares is Rs.10 and the Issue price is 5.3 times the Face Value. The Issue would constitute 25.82% of the post Issue paid-up capital of Shringar Cinemas Limited.

The Book Running Lead Mangers ("BRLMs') to the Issue are Enam Financial Consultants Private Limited and JM Morgan Stanley Private Limited. The Equity Shares of the company are proposed to be listed on The Stock Exchange, Mumbai and The National Stock Exchange of India Limited and trading is scheduled to start on or around April 29,2005.

The isssue was made through a 100% book building scheme where in upto 250,000 Equity Shares were reserved for employees. The Net Issue to the Public is thus 79,00,000 Equity Shares. Upto 50% of the Net Issue to public or 39,50,000 Equity shares was to be available for allocation on a discretionary basis to Qualified Institutional Buyers. Further, not less 25% of the Net Issue of Public or 19,75,000 equity shares was to be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 25% of the Net Issue to Public or 19,75,000 equity shares was to be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 25% of the Net Issue to Public or 19,75,000 equity shares was to be available for allocation on a proportionate basis to Retail Bidders, subject to valid Bids being received at or above the Issue Price.

Final Demand

A summary of the Final demand at various price levels as per the electoronic book is given below

Bid Price No.of Shares % Cumulative no of Shares Cumulative %
Cut off 11,346,000 2.3 11,346,000 2.3
53 67,301,750 13.9 78,647,750 16.3
52 67,302,875 13.9 145,950,625 30.2
51 67,307,375 13.9 213,258,000 44.2
50 67,386,500 14.0 280,644,500 58.1
49 67,398,500 14.0 348,043,000 72.1
48 67,409,500 14.0 415,452,500 86.0
47 67,477,625 14.0 482,930,125 100.0
Total 482,930,125 100.0

The Company has received 23,207 valid bids for 13,486,500 Equity shares.

A) Allotment to Non Institutional Bidders:
The Basis of Allotment to the Non Institutional Bidders who bid at the Issue Price of Rs.53 per Equity Share, was finalised in consultation with the 'The Stock Exchange, Mumbai'. The total valid bids were received for 1759375 Equity Shares, hence full and firm allotment was made to all valid applicantions.

B) Allotment to Retail Individual Bidders:
The Basis of Allotment to the Non Institutional Bidders who bid at the Issue Price of Rs.53 per Equity Share, was finalised in consultation with the 'The Stock Exchange, Mumbai'. on a proportionate basis after rounding off to the nearest one share, subject to a minimum allocation of 125 equity shares. The total number of shares allocated in this category is 2,230,805. The category-wise details and 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
125 5,691 24.69 711,375 6.18 125 7-36 138,375
250 3,909 16.96 977,250 8.49 125 14-36 190,000
375 1,526 6.62 572,250 4.97 125 21-36 111,250
500 2,378 10.32 1,189,000 10.32 125 28-36 231,250
625 744 3.23 465,000 4.04 125 59-60 91,500
750 768 3.33 576,000 5.00 145 FIRM 111,360
875 8,030 34.84 7,026,250 61.01 169 FIRM 1,357,070
Total 23,046 100.00 11,517,125 100.00 2,230,805

C)Allotment to Qualified Institutional Buyers (QIBs):

Category Financial Institutional / Banks Mutual Funds Foreign Institutional Investors Insurance Companies VCs
No. of Shares Allotted NIL 1,110,000 2,840,000 NIL NIL

D) Allotment to Employees

Since the employee category was under-subscribed, all valid applications in this category have received full allotment.

The Board of Directors of Shringal Cinemas Limited at its meeting held in Mumbai on April 22, 2005, has approved the basis of allotment of shares as above and allotted the shares to various successful applicants. The Refund orders will be dispatched on or before April 26, 2005 to the addresses 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 are being credited to their beneficiary accounts, subject to validation of the account details with the depositories concerned. Shringar Cinemas Limited is taking steps to the Equity Shares admitted for trading on the 'The Stock Exchange, Mumbai' and 'National Stock Exchange of India Limited' within seven working days from the date of approval of the basis of allocation.

Allotment details have been hosted on the Registrar's website i,e. www.intimespectrum.com All correspondence with reference to this issue should be addressed to the Registrars to the offer quoting full name of the First / Sole applicant, Serial number of the bid-cum-application from, number of shares bid for, name of the Syndicate Member and Place where the bid was submitted and payment details at the Following address:

Intime Spectrum Registry Limited
C-13 Pannalal Silk Mills Compound, LBS Marg, Bhandup West, Mumbai 4000 078,
Tel:+91-22-5555 5491/92/93/94 Fax: +91-22-5555 5499
Email: ipo@intimespectrum.com; Website: www.intimespectrum.com

Place : Mumbai
Date  : April 23, 2005

For Shringar Cinemas Limited
Sd/-
Bhavesh Desai
Company Secretary

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES EITHER ON LISTING OR THE BUSINESS PROSPECTS OF THE COMPANY.

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