Basis of Allotment

NIRAJ CEMENT STRUCTURALS LIMITED

NIRAJ CEMENT STRUCTURALS LIMITED

(Company Identification Number: U26940MH1998PTC114307) (Originally incorporated in India as Niraj Cement Structurals Private Limited on April 1, 1998 under theCompanies Act, 1956 and converted to Public Limited Company
w.e.f. January 12,2006.)
Registered Office: Niraj House, Sunder Baug, Opp. Deonar Depot, Chembur, Mumbai - 400 088
Tel. No.: +91-22-2551 3750/3541; Fax No.: +91-22-2551 8736; Website: http://www.niraj.co.in; E-mail: info@niraj.co.in Contact Person & Compliance Officer: Mr. Soni Agarwal, General Manager - Finance

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 32,50,000 EQUITY SHARES OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 190 PER EQUITY SHARE AGGREGATING RS. 6175 LAKHS (HEREINAFTER REFERRRED TO AS "THE ISSUE") BY NIRAJ CEMENT STRUCTURALS LIMITED (HEREINAFTER REFERRED TO AS "NCSL' OR THE "COMPANY" OR THE "ISSUER"). THE ISSUE COMPRISES OF RESERVATION FOR ELIGIBLE EMPLOYESS OF 3,25,000 EQUITY SHARES OF RS. 10/- EACH, AT THE ISSUE PRICE AND NET ISSUE TO THE PUBLIC OF 29,25,000 EQUITY SHARES OF RS 10/- EACH (HEREINAFTER REFERRED TO AS THE "NET ISSUE"). THE ISSUE WOULD CONSTITUTE 31.42% OF THE TOTAL POST ISSUE PAID-UP EQUITY CAPITAL OF THE COMPANY.
THE FACE VALUE PER EQUITY SHARE IS RS. 10/-. THE ISSUE PRICE PER EQUITY SHARE IS RS. 190 AND IT IS 19.0 TIMES THE FACE VALUE.

The Equity Shares of the Company are proposed to be listed on the Bombay Stock Exchange Ltd. (BSE) and trading is expected to commence on or about 19/6/2008.

The Issue was made through the 100% Book Building Process wherein upto 50% of the net Issue was to be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs") (including 5% of the QIB portion that was to specifically be allotted to mutual funds), further, not less than 15% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of The Issue was available for allocation on a proportionate basis to Retail Bidders, subject to valid bids being received at or above the Issue Price. Further upto 3,25,000 equity shares was available for allocation on a proportionate basis to eligible employees, subject to valid bids being received at or above the issue price. Issue was Opened on May 26, 2008 and was Closed on May 30, 2008.

The Issue received 12078 applications for 3474060 equity shares resulting in 1.0689 times subscription. The details of the applications received in the Issue from Non-Institutional, Retail Individual Investor and Employee categories are as under: (Before technical rejections)

Category No. of Applications No. of Shares Subscription
Qualified Institutional Buyers - - -
Non Institutional Investors 34 411390 0.9376
Retail Individual Investors 12042 3061650 2.9906
Employees 2 1020 0.0031

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
175 327840 5.2318 6266310 100.0000
176 750 0.0120 5938470 94.7682
177 330 0.0053 5937720 94.7562
178 90 0.0014 5937390 94.7510
180 280170 4.4711 5937300 94.7495
181 90 0.0014 5657130 90.2785
182 300 0.0048 5657040 90.2771
183 60 0.0010 5656740 90.2723
185 31710 0.5060 5656680 90.2713
188 30 0.0005 5624970 89.7653
189 30 0.0005 5624940 89.7648
190 1854120 29.5887 5624910 89.7643
CUT OFF 3770790 60.1756 3770790 60.1756
TOTAL 6266310 100

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited ("BSE") on 11th June, 2008

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. 190/- per Equity Share was finalized in consultation with BSE. The category was subscribed 0.003138 times. The total number of Equity Shares allotted in this category is 1020 Equity Shares to 2 successful applicants. The Unsubscribed portion (323980 shares) is spilled over to Retail Individual Investors category. The category wise details of the Basis of Allocation (sample) are as under:

Category No. of Applns. % to total Total No. of Shares applied % to total No. of Shares allocated Ratio Total No. of Shares allocated
510 2 100.00 1020 100.00 510 FIRM 1020

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

The Basis of Allocation to Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 190/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 1.059815 times. The total number of equity shares allotted in this category is 2837590 to 11822 successful applicants including Spill over from Employee Category (323980 Equity Shares), QIB Category (1462500) and HNI Category (27360) The category-wise details of Basis of Allocation are as under:

Category No. of Applns. % to total Total No. of Shares applied % to total No. of Shares allocated Ratio Total No. of Shares allocated
30 3615 30.58 108450 3.61 30 19:20 103110
60 1023 8.65 61380 2.04 57 FIRM 58311
90 550 4.65 49500 1.65 85 FIRM 46750
120 466 3.94 55920 1.86 113 FIRM 52658
150 288 2.44 43200 1.44 142 FIRM 40896
180 117 0.99 21060 0.7 170 FIRM 19890
210 108 0.91 22680 0.75 198 FIRM 21384
240 582 4.92 139680 4.64 226 FIRM 131532
270 189 1.6 51030 1.7 255 FIRM 48195
300 103 0.87 30900 1.03 283 FIRM 29149
330 22 0.19 7260 0.24 310 FIRM 6820
360 20 0.17 7200 0.24 340 FIRM 6800
390 25 0.21 9750 0.32 368 FIRM 9200
420 31 0.26 13020 0.43 396 FIRM 12276
450 24 0.2 10800 0.36 425 FIRM 10200
480 20 0.17 9600 0.32 453 FIRM 9060
510 4639 39.24 2365890 78.67 481 FIRM 2231359

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

The Basis of Allocation to Non Institutional Investors, who have bid at cut-off or at the Issue Price of Rs. 190/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 0.937641 times. The total number of equity shares allotted in this category is 438750 to 34 successful applicants.(Full and Firm) The Unsubscribed portion (27360 shares) is spilled over to Retail Individuals Investors. The category-wise details of Basis of Allocation are as under: (Sample).

Category No. of Applns. % to total Total No. of Shares applied % to total No. of Shares allocated Ratio Total No. of Shares allocated
540 2 5.88 1080 0.26 540 FIRM 1080
8f0 1 2.94 810 0.2 810 FIRM 810
900 1 2.94 900 0.22 900 FIRM 900
2610 2 5.88 5220 1.27 2610 FIRM 5220
3090 1 2.94 3090 0.75 3090 FIRM 3090
3540 1 2.94 3540 0.86 3540 FIRM 3540
3660 1 2.94 3660 0.89 3660 FIRM 3660
3720 1 2.94 3720 0.9 3720 FIRM 3720
4140 1 2.94 4140 1.01 4140 FIRM 4140
4200 1 2.94 4200 1.02 4200 FIRM 4200
5250 7 20.59 36750 8.93 5250 FIRM 36750
5280 1 2.94 5280 1.28 5280 FIRM 5280
6000 1 2.94 6000 1.46 6000 FIRM 6000
7020 1 2.94 7020 1.71 7020 FIRM 7020
9270 1 2.94 9270 2.25 9270 FIRM 9270
9870 1 2.94 9870 2.4 9870 FIRM 9870
30000 9 26.47 270000 65.63 30000 FIRM 270000
36840 1 2.94 36840 8.96 36840 FIRM 36840

The board of Directors at its Meeting held at Mumbai on June 12,2008 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/allotment advice and call money 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 are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. The listing application have been filed with the BSE on 13/6/2008 and the company is taking steps to get the equity shares admitted for trading on the Bombay Stock Exchange 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 Marg, Bhandup West, Mumbai - 400 078.
Tel.91- 22 2596 0320; Fax: 91 22 2596 0329; Email: ncsl@intimespectrum.com
Unit. Njraj Cement Spectrum Limited - IPO

Place : Mumbai
Date  : 13/6/2008

For Niraj Cement Structurals Limited
Sd/-
Soni Agarwal
Company Secretary and Compliance 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 NIRAJ CEMENT
STRUCTURALS  LIMITED.

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