PIRAMYD RETAIL LIMITED

(Incorporated as Public Limited Company on 18th March, 2005 under the Companies Act, 1956)
Regd Office: 106, Peninsula Centre, Dr. S S Rao Road, Parel, Mumbai 400 012.
Tel:+91-22-5661 8787, Fax:+91-22-25661 8788. Website: wvw.piramyd.com Email: ipo@piramyd.co.in

The Issue was made through the 100% Book Building Process wherein a minimum of 50% of the Net Issue to the public was to be allocated on a discretionary basis to Quailed Institutional Buyers ("QIBs")., Further, not less than 15% of the Net Issue to the public was to be made available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue to the public was to be made available for allocation on a proportionate basis to Retail Bidders, subject to valid bids being received at or above the Issue Price.

The Issue received 96,654 applications for 56,997,935 equity shares resulting in 11.39 times subscription. The details of the applications received in the issue from Qualified Institutional Buyers, Non-Institutional and Retail Investor categories are as under:

Final Demand
A sample of the final demand at different bid prices is as under

The Basis of Allotment was finalized in consultation with Bombay Stock Exchange, Limited ("BSE") on the 28th November, 2005.

A. Allocation to Retail Investors
The Basis of Allocation to the Retail Investors, who have bid at cut-off or at and above the Issue Price of Rs.120/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 15.65 times. The total number of shares allotted in this category is 1750000 Equity Shares. The category-wise details of the Basis of Allocation are as under:

B. Allocation to Non Institutional Investors
The Basis of Allocation to the Non Institutional bidders, who have bid at and above the Issue Price of Rs.120/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 20.00 times. The total number of shares allotted in this category is 750000 Equity Shares. The category-wise details of the Basis of Allocation are as under:

The Committee of Directors for IPO of the company at it's meeting held at Hyderabad on 28th November, 2005 has approved the basis of allocation of shares and allotted the shares to various successful applicants.
The Refund Orders will be dispatched to 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, if any, with the depositories. The shares allocated to successful applicants are being 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 and National Stock Exchange of India Limited within seven working days from the date of approval of the basis of allocation.

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 for, name of the Member of the Syndicate and Place where the bid was submitted and payment details at the address given below:

Karvy Computershare Private Limited
Unit: Piramyd,Retail, Karvy House,46,
Avenue 4, Street No.1, Banjara Hills,
Hyderabad - 500034, Fax: 040-23311968.
Email: mailmanager@karvy.com

TOLL FREE - HELPLINE NUMBERS
1-600-3454001

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 PIRAMYD RETAIL LIMITED.