Basis of Allotment

AUSTRAL COKE


AUSTRAL COKE & PROJECTS LIMITED

(Originally incorporated as "NRE Stocknet Ltd." as Public Limited Company at Kolkata, West Bengal, on April 22,1994 under the Companies Act, 1956. We changed the name of our company as "NET Interactive Ltd" vide fresh certificate of incorporation dated on June 16, 1998 and subsequently renamed as "Austral Coke & Projects Limited" vide fresh certificate of Incorporation dated September 14, 2005)

Registered Office: Diamond Chambers, 4, Chowringhee Lane, Block No. 2, 7th Floor, Unit No.-7-l, Kolkata-700016 Tel: +91-33-22521799; fax +91-33-2252 2134 (For changes In our Registered Office, see "History and Corporate Structure" of Our Company on page 101 of the prospectus) Works: Survey No.352.353/1,353/2, Village- Lunva, Taluka Bhachau, Dist • Kutch, Gujarat.Tel: 02837 - 291201/223374

Corporate Office: Killedar Estate, Building No. 1,1st & 2nd Floor, Opp Jogeshwari MTNL office, S.V. Road, Jogeshwari (West), Mumbai - 400 102; Tel: +91-22-6724 0000, Fax: +91-22- 6724 0100 Website: www.australcoke.com; E-mail: ipo@australcoke.com Contact Person: Mr. Navin Choudhary - Company Secretary and Mr. Vivek Bharuka - Compliance Officer

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFERING OF 72,60,000 EQUITY SHARES OF RS. 10/- EACH AT A PRICE OF RS. 196 PER SHARE FOR CASH (INCLUDING SHARE PREMIUM OF RS. 186 PER SHARE) AGGREGATING RS. 14229.60 LACS (HEREINAFTER REFERRED TO AS THE ISSUE) THE ISSUE SHALL CONSTITUTE 25.00% OF THE FULLY DILUTED POST ISSUE CAPITAL OF OUR COMPANY.

THE FACE VALUE PER EQUITY SHARE IS RS.10/-. THE ISSUE PRICE PER EQUITY SHARE IS RS. 196/- AND IT IS 19.6 TIMES THE FACE VALUE.

The Issue 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, up to 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 shall be 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 7099 valid applications for 77,14,294 equity shares resulting In 1.06 times subscription. The details of the valid applications received In the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Individual Investors are as under:

Category No. of Applications No. of Shares Subscription
Qualified Institutional Buyers 2 2261510 0.6230
Non Institutional Investors 28 4070922 3.7382
Retail individual Investors 7069 1381862 0.5438

THE COMPANY, VIDE ITS BOARD RESOLUTION DATED AUGUST 22, 2008, IN CONSULTATION WITH BRLMs, HAS DECIDED NOT TO EXERCISE THE GREEN SHOE OPTION.

Final Demand

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

Bid Price No. of Share % to Total Cumulative Total Cumulative % to total
164 472906 3.8129 12402656.0000 100.0000
165 1598 0.0129 11929750.0000 96.1871
166 238 0.0019 11928152.0000 96.1742
167 136 0.0011 11927914.0000 96.1723
168 136 0.0011 11927778.0000 96.1712
169 544 0.0044 11927642.0000 96.1701
170 2210 0.0178 11927098.0000 96.1657
172 4590 0.0370 11924888.0000 96.1479
173 1768 0.0143 11920298.0000 96.1108
174 102 0.0008 11918530.0000 96.0966
175 2584 0.0208 11918428.0000 96.0958
176 170 0.0014 11915844.0000 96.0749
180 29546 0.2382 11915674.0000 96.0736
183 5610 0.0452 11886128.0000 95.8353
184 34 0.0003 11880518.0000 95.7901
185 408 0.0033 11880484.0000 95.7898
186 680 0.0055 11880076.0000 95.7865
188 66 0.0005 11879396.0000 95.7811
190 510 0.0041 11879328.0000 95.7805
192 34 0.0003 11878818.0000 95.7764
194 170 0.0014 11878784.0000 95.7761
195 238 0.0019 11878614.0000 95.7748
196 10269394 62.8000 11878376.0000 95.7728
CUTOFF 1608982 12.9729 1608982.0000 12.9729

The Basis of Allocation was finalized In consultation with the Bombay Stock Exchange Limited ("BSE") on 25th August, 2008.

A. Allocation to Retail Individual Investors (After Technical Rejection)

The Basis of Allocation to Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 196/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 0.543826 times. The total number of shares allotted in this category to 7,069 applicants is 1381862 equity sharas. The Unsubscribed portion (1159138 Equity shares) is spilled over to Non Institutional Investors category. The category-wise details of Basis of Allocation are as under:

Category No. of
Applns.
% to total Total No. of
Share applied
% to total No. of Shares
allocated
Ratio Total No. of
Shares allocated
34 2356 33.33 80104 5.8 34 FIRM 80104
68 972 13.75 66096 4.78 66 FIRM 66096
102 726 10.27 74052 5.36 102 FIRM 74052
136 287 4.06 39032 2.82 136 FIRM 39032
170 219 3.1 37230 2.69 170 FIRM 37230
204 133 1.88 27132 1.96 204 FIRM 27132
238 263 3.72 62594 4.53 238 FIRM 62594
272 184 2.6 50048 3.62 272 FIRM 50048
306 49 0.69 14994 1.09 306 FIRM 14994
340 114 1.61 38760 2.8 340 FIRM 38760
374 26 0.37 9724 0.7 374 FIRM 9724
408 23 0.33 9384 0.68 408 FIRM 9384
442 19 0.27 8398 0.61 442 FIRM 8398
476 49 0.69 23324 1.69 476 FIRM 23324
510 1649 23.33 840990 60.86 510 FIRM 840990

B. Allocation to Non Institutional Investors (After Technical Rejection)

The Basis of Allocation to Non-Institutional Investors, who have bid at the Issue Price of Rs. 196/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 1.125613 times. The total number of Equity Shares allotted in this category is 3616628 Equity Shares to 28 successful applicants Including Spill over from QIB Category (1368490 Equity Shares) and Retail Category (1159138). 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
1020 3 10.71 3060 0.08 906 FIRM 2718
2040 1 3.57 2040 0.05 1812 FIRM 1812
2550 1 3.57 2550 0.06 2265 FIRM 2265
4930 2 7.14 9860 0.24 4380 FIRM 8760
5100 2 7.14 10200 0.25 4531 FIRM 9062
12750 3 10.71 38250 0.94 11327 FIRM 33981
25500 2 7.14 51000 1.25 22654 FIRM 45308
51000 2 7.14 102000 2.51 45309 FIRM 90618
102034 1 3.57 102034 2.51 90648 FIRM 90648
102068 1 3.57 102068 2.51 90678 FIRM 90678
127500 1 3.57 127500 3.13 113272 FIRM 113272
127568 1 3.57 127568 3.13 113332 FIRM 113332
153034 1 3.57 153034 3.76 135956 FIRM 135956
178568 1 3.57 178568 4.39 158641 FIRM 158641
229568 1 3.57 229568 5.64 203949 FIRM 203949
255102 1 3.57 255102 6.27 226634 FIRM 226634
306102 1 3.57 306102 7.52 271943 FIRM 271943
357136 1 3.57 357136 8.77 317281 FIRM 317281
382670 1 3.57 382670 9.4 339966 FIRM 339966
1530612 1 3.57 1530612 37.6 1359804 FIRM 1359804

C. Allocation to QIBs

Allocation to QIBs has been done on a proportionate basis In consultation with BSE. The category was subscribed 0.6230 times. As per the SEBI guidelines, QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares 2261510 to 2 successful applicants on proportionate basis. The Unsubscribed portion (1368490 Equity shares) is spilled over to Non Institutional Investors category.

Category (FII) No. of Applns. % to total Total No. of
Shares applied
% to total No. of Shares allocated Ratio Total No. of
Shares allocated
321470 1 50.00 321470 14.21 321470 FIRM 321470
1940040 1 50.00 1940040 85.79 1940040 FIRM 1940040

The Board of Directors of the company at it's Meeting held at Corporate Office, Mumbai on August 26, 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 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 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 the National Stock Exchange of India Limited and 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: @intimespectrum.com

Place : Mumbai
Date : 28th August, 2008

For Austral Coke & Projects Limited
Sd/-
Mr. Navin Choudhary
Company Secretary

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 AUSTRAL COKE & PROJECTS LIMITED.

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