Basis of Allotment

B

B. L. KASHYAP AND SONS LIMITED

(Incorporated under the Companies Act, 1956 on May 8,1969 as B. L. Kashyap and Sons Private Limited. On June 7,1995 the name of our Company was changed from B. L, Kashyap and Sons Private Limited to B.L. Kashyap and Sons Limited. For details of changes in the name of our Company, please see the section filled "History and Certain Corporate Matters" beginning on page 76 of the Prospectus).
Registered Office: A-12, Kellash Colony, New Delh1110 048, India.
Corporate Office: A-21/B 1, Mohan Cooperative Industrial Estate, Mathura Road, New Delhi 110044, India, Tel: +91114167 9800; Fax: +91114167 9815. Contact Person: Mr. Jitendra Kumar; Tel: +91 11 4167 9800.
E-mail: ipo@blkashyap.com; Website: www.blkashyap.com

BASIS OF ALLOCATION

Public Issue of 2,750,000 Equity Shares of Rs. 10 each for cash at a price of Rs.685 per Equity Share aggregating Rs. 1,883.75 million ("Issue"). There will also be a Green Shoe Option of up to 250,000 Equity Shares to be lent by Mr. Vineet Kashyap, one of our Promoters. The Green Shoe Option exercised is 170,000 Equity Shares for cash at a price of Rs. 685 per Equity Share aggregating Rs. 116.45 million. The Issue and the Green Shoe Option, partially exercised, aggregates 2,920,000 Equity Shares and amounts to Rs. 2,000.20 million.

THE FACE VALUE PER EQUITY SHARE IS RS. 10/-. THE ISSUE PRICE OF Rs.685 PER EQUITY SHARE IS 68.5 TIMES OF THE FACE VALUE.

The Issue being made through 100% Book Building Process wherein 50% of the Issue has been allocated on a proportionate basis to Qualified Institutional Buyers, (including 5% of the QIB portion that was to specifically be allotted to mutual funds) Further, 15% of the issue has been made available forallocation on a proportionate basis to Non-Institutional Bidders and 35% of the issue has been made available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price.

The Issue received 81397 applications for 41736860 equity shares resulting in 14.29 times subscription. The details of the applications received (Before Technical Rejections) in the Issue from Qualified Institutional Bidders, Non-Institutional and Retail Individual Bidders are as under..

Category No. of Applications No. of Shares Subscription
Qualified Institutional Bidders 92 33875140 23.20
Non Institutional Bidders 341 3066780 7.00
Retail Individual Bidders 80964 4794940 4.69

Final Demand
A sample of the final demand at different bid prices is asunder:

Bid Price No. of Shares % to Total Cumulative
Total
Cumulative %
to Total
625       93010 0.2191 42454650   100.0000
650       96150 0.2265 42359500    99,7759
660         1570 0.0037 42257280    99.5351
666       55560 0.1309 42254190    99.5278
670         6140 0.0145 42198630   99.3970
675       16340 0.0385 42192490   99.3825
676         4360 0,0103 42176150   99,3440
680     103480 0.2437 42171750   99.3336
685             30 0.0001 42068240   99.0898
690       25490   0.0600 42068210    99.0898
700 37804580 87.8692 42042630   99.0295
9999   4738050 11.1603    4738050   11.1603

The Basis of Allotment was finalized In consultation with Bombay Stock Exchange Limited ("BSE") on March 8, 2006.

A) Allocation to Retail Individual Bidders:
The Basis of Allocation to the Retail Individual Bidders, who have bid at cut-off or at and above the Issue Price of Rs.685/-per Equity Share, was finalized In consultation with BSE. The category was over subscribed 4.63166 times. The total number of shares allotted In this category is 1022004 Equity Shares. The category-wise details of the Basis of Allocation are as under:

Category No. of
Applications
% to
Total
Total no. of
Shares applied
% to No. of Shares
Total allocated
Ratio Total No. of
Shares allocated
10   12370 15.48   123700 2.61 10 23:100   28460
20     9312 11.65   186240 3.93 10   11:25   40980
30    7258   9.08   217740 4.60 10   33:50   47910
40    4299   5.38    171960 3.63 10   22:25   37840
50    4969   6.22   248450 5.25 11 FIRM   54659
60   2827   3.54   169620 3.58 13 FIRM   36751
70 24507 30.67 1715490 3624 15 FIRM 367605
80    761   0.95     60880 1.29 17 FIRM   12937
90     248    0.31     22320   0.47 19 FIRM     4712
100     957   1.20     95700   2.02 22 FIRM   21054
110    250   0.31     27500   0.58 24 FIRM     6000
120    240   0.30     28800   0.61 26 FIRM       6240
130    252   0.32     32760   0.69 28 FIRM      7056
140 11660 14.59   1632400 34.49 30 FIRM   349800

B) Allocation to Non Institutional Bidders:
The Basis of Allocation to the Non institutional Bidders, who have bid at and above the Issue Price of Rs.685/- per Equity Share,was finalized in consultation with BSE. The category was subscribed 6.98260 times. The total number of shares allotted in thiscategory is 437996 Equity Shares. A sample of category-wise details of the Basis of Allocation are 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
150 31 9.66     4650 0.15    21 FIRM   651
500 8 2.49     4000 0.13    72 FIRM   576
1500 9   2.80   13500 0.44   215 FIRM 1935
3000 5 1.56   15000 0.49   430 FIRM   2150
5000 4 1.25   20000 0.65    716 FIRM   2864
10000 2 0.62   20000 0.65   1432 FIRM   2864
15000 6 1.87   90000 2.94   2148 FIRM 12888
50000 1 0.31   50000 1.63    7161 FIRM    7161
114280 1 0.31 114280 3.74   16366 FIRM 16366
144000 1 0.31 144000 4.71   20623 FIRM 20623
214290 1 0.31 214290 7.01   30687 FIRM 30687
357200 1 0.31 357200 11.68   51153 FIRM   51153
714280 1 0.31 714280 23.35 102290 FIRM 102290

C) Allocation to Qualified Institutional Bidders (QIBS):
Allocation to QlBs have been done on a proportionate basis in consultation with the Bombay Stock Exchange Limited. As perthe SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available (73,000) and other QIBs andunsatisfied demands of Mutual Funds were allotted the remaining available shares (1,387,000) on proportionate basis. Thesectoral cap and other limits applicable to the holding of shares in company have been taken into account while allotting shares.Mutual Funds were allotted 34.78 % for QIB segment and other QIB applicants were allotted 65.22% of the shares forQIB segment.

Category Financial
Institutions/Banks
Mutual
Funds
Foreign
Institutional Investors
TotaI
No. of Shares 34457 507848 917695 1460000

The Board of Directors for IPO of the company at its Meeting held at Plot no. 124-126, DLF Industrial Estate, Faridabad, Haryanaon March 8, 2006 has approved the basis of allocation of shares of the Issue and has 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 isnot 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 beingcredited 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.

INVESTORS PLEASE NOTE
This details of the allocation made would be hosted on the website of Registrars to the Issue, Intime Spectrum Registry Limited at www.intimespectrum.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 for, name of the Member of the Syndicate and Place where the bid was submitted and payment details at the address given below:

INTIME SPECTRUM REGISTRY LIMITED, C-13, Pannalal Silk Mills Compound, LBS Road, Bhandup (W),
Mumbal 400078, India. Tel: +9122 25960320, Fax: +9122 25960329

 


Date : March 9, 2006
Place: Delhi

For B. L. KASHYAP AND SONS LIMITED
On behalf of the Board of Directors
Sd/
Vineet Kashyap
Managing Director

PLEASE NOTE: THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICTIVE OF THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF THE COMPANY.

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