Basis of Allotment

ASTEC LIFESCIENCES LIMITED

ASTEC LIFESCIENCES LIMITED

We were originally incorporated under the Companies Act, 1956 as Urshila Traders Private Limited on January 25,1994 and registered with the Registrar of Companies, Maharashtra. The name of our Company was changed to Astec Chemicals Private Limited with effect from August 19,1994. The name of our Company was further changed to Astec LifeSciences Private Limited w.e.f. March 3,2006. Pursuant to our Company being converted into a Public Limited Company, the word "Private' was deleted from the name of our Company by the RoC on April 27,2006.
Registered & Corporate Office: 5-5A, 4th floor, Kamanwala Chambers, Sir P. M. Road, Fort, Mumbai-400001 Tel No.: +91-22-2261 8212-13, Fax No: +91-22-2261 8289; Website: www.astecls.com; Email: ipo@astecls.com Contact Person: Ms. Nikita Jain, Company Secretary & Compliance officer, Email: nikita@astecls.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 75,00,000 EQUITY SHARES OF RS 10/- EACH FOR CASH AT A PRICE OF RS. 82 PER EQUITY SHARE, AGGREGATING RS 6150 LAKHS (THE "ISSUE"). THE ISSUE COMPRISES A RESERVATION OF 1,00,000 EQUITY SHARES OF RS. 10/- EACH AGGREGATING RS. 82 LAKHS FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (THE "EMPLOYEE RESERVATION PORTION") AT THE ISSUE PRICE, AND NET ISSUE OF 74,00,000 EQUITY SHARES OF RS. 10/- EACH AGGREGATING RS. 6088 LAKHS. THE ISSUE CONSTITUTES 44.30% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF OUR COMPANY.

THE FACE VALUE PER EQUITY SHARE IS RS.10/-.
THE ISSUE PRICE PER EQUITY SHARE IS RS.82/-AND IT IS 8.2 TIMES THE FACE VALUE.

This Issue was being made through a 100% Book Building Process wherein not more than 50% of the Net Issue to Public shall be available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs"). 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only and the remainder shall be available for allotment on a proportionate basis to QIBs and Mutual Funds, subject to valid bids being received from them at or above the Issue Price. Further, not less than 15% of the Net Issue to Public shall be available for allocation on a proportionate basis to Non Institutional Bidders and not less than 35% of the Net Issue to Public shall be 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 7,097 applications for 92,41,150 equity shares after cheque returns but before technical rejection resulting in 1.2322 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional, Retail Individual Investor and Employee categories are as under:

(Before technical rejections)

Category No. of Applications No. of Shares Subscription (No. of Times)
Qualified Institutional Buyers 9 2246775 0.60
Non Institutional Investors 11 1013775 0.91
Retail Individual Investors 7022 5930425 2.28
Employees 55 50175 0.50
Total 7097 9241150 1.2322

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

Bid Price No. of Shares % to Total Cumulative Total Cumulative % to total
77.00 6225 0.053 11714700 100.000
78.00 300 0.002 11708475 99.947
79.00 150 0.001 11708175 99.944
80.00 1575 0.013 11708025 99.943
82.00 5850525 49.941 11706450 99.930
9999.00 5855925 49.987 5855925 49.987
TOTAL 11714700 100.00

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited ("BSE") on November 17,2009. The details of valid application received and allotment done are as under:

A. Allocation to Employees (After Technical Rejections)

The Basis of Allocation to the Employees, who have bid at cut-off or at the Issue Price of Rs. 82/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 0.36 times. The total number of shares allotted in this category is 35,700 Equity Shares to 28 successful applicants. Further, due to under subscription, full and firm allotment has been made in this category and the balance under-subscribed portion to the extent of 64,300 equity shares has been spilled over to the QIB, Non Institutional and Retail Individual Investor categories. The category-wise details of the Basis of Allocation (Sample) are as under:

Category No. of Applns. Received % to total Total No. of Shares applied % to total No. of Shares allocated Ratio Total No. of Shares allocated
75 2 7.14 150 0.42 75 FIRM 150
150 1 3.57 150 0.42 150 FIRM 150
225 1 3.57 225 0.63 225 FIRM 225
300 12 42.86 3600 10.08 300 FIRM 3600
375 1 3.57 375 1.05 375 FIRM 375
450 1 3.57 450 1.26 450 FIRM 450
2175 6 21.43 13050 36.55 2175 FIRM 13050
4275 1 3.57 4275 11.97 4275 FIRM 4275
4350 2 7.14 8700 24.37 4350 FIRM 8700
4725 1 3.57 4725 13.24 4725 FIRM 4725

B. Allocation to Retail Individual Investors (Including ASBA Applications) (After Technical Rejections)

The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs 82/- per Equity Share was finalized in sonsultation with BSE..The category was subscribed 1.894 times. the spill over portion from Employee category of 22,665 Equity shares of QIB category of 10,99,783, equity shares and Non-institutional Investors category of 6.51 482 equitv shares have been added to the category .the total number of shares alloted to this category is 42,03,900 (150 excess shares were alloted on this category for Rounding Off.) Equrty Shares to 6,593 successful applicants. The category-wise details of the Basis of Allocation are as under

category No. of Applns. Received % toTotel Total No. of Shares applied % to total No. of Shares allocated Ratio Total No. of Shares allocated
75 1115 16.18 83625 1.43 75 11:15 61350
150 493 7.16 73950 1.26 108 FIRM 53244
225 175 2.54 39375 0.67 181 FIRM 28175
300 195 2.83 58500 1.00 215 FIRM : 41925
375 39 0.57 14625 0.25 269 FIRM 10491
450 40 0.58 18000 0.31 323 FIRM 12920
525 29 0.42 15225 0.26 376 FIRM 10904
600 288 4.18 172800 2.95 430 FIRM 123840
675 19 0.28 12825 0.22 484 FIRM 9196
750 27 0.39 20250 0.35 538 FIRM 14526
825 8 0.12 6600 0.11 591 FIRM 4728
900 10 0.15 9000 0.15 645 FIRM 6450
975 9 0.13 8775 0.15 699 FIRM 6291
1050 7 0.10 7350 0.13 753 FIRM 5271
1125 7 0.10 7875 0.13 807 FIRM 5649
1200 4429 64.28 5314800 90.64 860 FIRM 3808940

C. Allocation to Non Institutional Investors (After Technical Rejections)

The Basis of Allocation to the Non Institutional Investors, who have bid at the Issue Price of Rs. 82/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 0.647 times. Further, due to under subscription, full and firm allotment has been made in this category. The spill over portion from Employee Category to the extent of 9,645 equity shares and from QIB category to the extent of 4,45,612 equity shares have been added to the Non Institutional Investors category. The total number of shares allotted in this category is 10,13,775 Equity Shares to 11 successful applicants. The category-wise details of the Basis of Allocation (sample) are as under:

Category No. of Applns. Received % to total Total No. of Shares applied % to total No. of Shares allocated Ratio Total No. of Shares allocated
1275 1 9.09 1275 0.13 1275 FIRM 1275
2400 1 9.09 2400 0.24 2400 FIRM 2400
6075 2 18.18 12150 1.20 6075 FIRM 12150
10050 1 9.09 10050 0.99 10050 FIRM 10050
12150 1 9.09 12150 1.20 12150 FIRM 12150
30450 1 9.09 30450 3.00 30450 FIRM 30450
31500 1 9.09 31500 3.11 31500 FIRM 31500
121050 1 9.09 121050 11.94 121050 FIRM 121050
183000 1 9.09 183000 18.05 183000 FIRM 183000
609750 1 9.09 609750 60.15 609750 FIRM 609750

D. Allocation to QIBs

Allocation to QIBs has been done in consultation with BSE. The category was subscribed 0.60 times. Further, due to under subscription, full and firm allotment has been made in this category and the balance undersubscribed portion in the QIB category to the extent of 14,85,375 equity shares (including the spill over portion from Employee Category to the extent of 32,150 equity shares) have been added to the Retail and Non Institutional category. The total number of shares allotted in this category is 22,46,775 Equity Shares to 9 successful applicants. The category-wise details of the Basis of Allocation (sample) are as under:

Category Fls/Banks Flls MFs Total
No. of Shares 609750 1321650 315375 2246775

The Board of Directors of the company at its Meeting held at Mumbai on November 18,2009 has approved the basis of allocation of shares of the Issue and has allotted the shares to various successful applicants.

The CAN-cum-Refund Orders and allotment advice and notices have been 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 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 and National Stock Exchange of India Limited within seven working days from the date of approval of the basis of allocation i.e. on or before November 26, 2009.

INVESTORS PLEASE NOTE

These details of the allocation made would be hosted on the website of Registrar to the Issue, Bigshare Services Private Limited at http://www.blgshareonllne.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 trie bid was submitted and payment details at the address given below:

Bigshare Services Private Limited
E/2, Ansa Industrial Estate, Saki Vihar Road, Saki Naka, Andheri (E), Mumbai-400 072
Tel No +91-22-40430200, Fax : +91-22-2847 5207, Email: ipo@bigshareonline.com
Website: www.bigshareonline.com, Contact Person: Mr. Ashok Shetty

Place: Mumbai

Date : November 20,2009

For Astec LifeSciences Limited
Sd/-
Vljay Jain
Chief Financial Officer

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 ASTEC LIFESCIENCES LIMITED.

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