FROG CELLSAT LIMITED
	CIN: U51909DL2004PLC127530

Our Company was incorporated on July 12, 2004 as a private limited company under the provisions of Companies Act, 1956 with the Registrar of Companies, Delhi in the name and style of "Frog Cellsat Private Limited". Subsequently, our Company was converted into public limited company pursuant to which the name of our Company was changed to "Frog Cellsat Limited'' vide shareholder's approval on February 20, 2014 and fresh certificate of incorporation dated March 25, 2014. Our Company got listed on Emerge UP Platform of National Stock Exchange of India Limited (NSE) on May 02, 2014. Further, Our Company had made an application for delisting and NSE vide its letter dated June 6, 2018 hereby notified that the securities shall be delisted w.e.f. June 13, 2018 (i.e.w.e.f. closing hours of trading on June 12, 2018). Further the admissions to dealings in the securities were withdrawn w.e.f. June 20, 2018. The Corporate Identification Number of our Company is U51909DL2004PLC127530. For further details, please refer to chapter titled ‘Our History and Certain Other Corporate Matters' beginning on page 108 of the Prospectus dated October 07, 2022 filed with Registrar of Companies (RoC), Delhi.

INITIAL PUBLIC OFFERING OF 40,75,200 EQUITY SHARES OF FACE VALUE OF Rs 10.00 EACH ("EQUITY SHARES") OF OUR COMPANY FOR CASH AT A PRICE OF Rs 102 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs 92 PER EQUITY SHARE) ("OFFER PRICE") AGGREGATING TO Rs 4156.70 LAKHS ("OFFER"). THIS OFFER INCLUDES A RESERVATION OF 2,04,000 EQUITY SHARES AGGREGATING TO Rs 208.00 LAKHS FOR SUBSCRIPTION BY MARKET MAKER ("MARKET MAKER RESERVATION PORTION"). THE OFFER LESS THE MARKET MAKER RESERVATION PORTION IS HEREINAFTER REFERRED TO AS THE "NET OFFER". THE OFFER AND THE NET OFFER SHALL CONSTITUTE 26.51 % AND 25.18%, RESPECTIVELY, OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.

e) The Weighted average cost of acquisition of all Equity Shares transacted in the last three years and one year from the date of Prospectus is as given below:

This Offer was being made through the Book Building Process, in terms of Rule 19(2) (b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR") read with Regulation 229 of the SEBI ICDR Regulations and in compliance with Regulation 253 of the SEBI ICDR Regulations wherein not more than 50.00% of the Net Offer was available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs") (the "QIB Portion"). Our Company in consultation with the BRLM allocated up to 60.00% of the QIB Portion to Anchor Investors on a discretionary basis ("Anchor Investor Portion"). Further, not less than 15.00% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Investors and not less than 35.00% of the Net Offer shall be available for allocation to Retail Individual Investors in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. All Bidders, other than Anchor Investors, were required to participate in the Offer by mandatorily utilizing the Application Supported by Blocked Amount ("ASBA") process by providing details of their respective ASBA Account (as defined here in after) in which the corresponding Bid Amounts will be blocked by the Self Certified Syndicate Banks ("SCSBs") or under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts. Anchor Investors were not permitted to participate in the Offer through the ASBA process. For details, see "Offer Procedure" on page 236 of the Prospectus.

The bidding for Anchor Investors opened and closed on September 28, 2022. The Company received 2 Anchor Investors applications for 12,62,400 Equity Shares. The Anchor Investor Allocation price was finalized at Rs 102.00 per Equity Share. A total of 11,59,200 Equity Shares were allotted under the Anchor Investor portion aggregating to Rs 11,82,38,400

The Offer (excluding Anchor Investors Portion) received Applications for 8,15,31,600 Equity Shares (before technical rejections and after Bids not banked/not registered in electronic book) resulting in 27.96 times subscription (including reserved portion of market maker). Further Applications for 64,10,400 Equity Shares were bid but not banked and 2400 Equity shares were not registered in Electronic book. The details of the Valid Applications received in the offer are for 8,02,44,000 Equity Shares from various categories and are as under:

Detail of the Applications Received:

Final Demand:

A summary of the final demand as per NSE as on the Bid/Offer Closing Date at different Bid prices is as under:

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being NSE on October 10, 2022.

1) Allotment to Retail Individual Investors (After Technical Rejections)

The Basis of Allotment to the Retail Individual Investors, who have Bid at cut-off Price or at or above the Issue Price of Rs. 102.00 per Equity Share, was finalized in consultation with NSE. The category has been subscribed to the extent of 21.70 times. The total number of Equity Shares Allotted in this category is 1356000 Equity Shares to 1130 successful applicants. The category-wise details of the Basis of Allotment are as under:

2) Allotment to Non-Institutional Investors (After Technical Rejections)

The Basis of Allotment to the Non-Institutional Investors, who have bid at the Issue Price of Rs. 102 per Equity Share or above, was finalized in consultation with NSE. The category has been subscribed to the extent of 72.13 times. The total number of Equity Shares Allotted in this category is 58,0800 Equity Shares to 261 successful applicants. The category-wise details of the Basis of Allotment are as under (Sample basis):

3) Allotment to QIBs excluding Anchor Investors (After Technical Rejections)

Allotment to QIBs, who have bid at the Issue Price of Rs. 102.00 per Equity Share or above, has been done on a proportionate basis in consultation with NSE. This category has been subscribed to the extent of 11.25 times of QIB portion. The total number of Equity Shares allotted in the QIB category is 7,75,200 Equity Shares, which were allotted to 9 successful Applicants.

4) Allotment to Anchor Investors (After Technical Rejections)

The Company in consultation with the BRLM has allocated 11,59,200 Equity Shares to 2 Anchor Investors at the Anchor Investor Offer Price of Rs.102.00 per Equity Shares in accordance with the SEBI ICDR Regulations. This represents 60% of the QIB Category.

The Board of Directors of our Company at its meeting held on October 10, 2022 has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, being NSE and has allotted the Equity Shares to various successful applicants. The Allotment Advice Cum Refund Intimation will be dispatched to the address of the investors as registered with the depositories. Further, instructions to the SCSBs have been dispatched/mailed for unblocking of funds and transfer to the Public Offer Account on or before October 11, 2022. The Equity Shares allotted to the successful allottees shall be uploaded on October 11, 2022 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company is in the process of obtaining the listing and trading approval from NSE and the trading of the Equity Shares is expected to commence on October 13, 2022.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated October 07, 2022 filed with the Registrar of Companies, Delhi ("RoC").

The details of the allotment made has been hosted on the website of the Registrar to the Offer, Skyline Financial Services Private Limited at website: www.skylinerta.com  All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the First/ Sole Bidder Serial number of the ASBA form, number of Equity Shares bid for, Bidder DP ID, Client ID, PAN, date of submission of the Bid cum Application Form, address of the Bidder, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and copy of the Acknowledgment Slip received from the Designated Intermediary and payment details at the address given below:

	Skyline Financial Services Private Limited
	Address: D-153 A, 1st Floor, Okhla Industrial Area, Phase -1, New Delhi -110020
	Tel No.: +91-11-40450193-197; Website: www.skylinerta.com ;
	Email: ipo@skylinerta.com ; CIN: U74899DL1995PTC071324;
	Contact Person: Ms. Rati Gupta; SEBI Registration No.: INR000003241

Disclaimer: Frog Cellsat Limited has filed the Prospectus with the RoC on October 07, 2022 and thereafter with SEBI and the Stock Exchange. The Prospectus is available on the website of the BRLM, Sarthi Capital Advisors Private Limited at www.sarthiwm.in  and the Company at www.frogcellsat.com , and shall also be available on the website of the NSE and SEBI. Investors should note that Investment in Equity Shares involves a high degree of risk and for details relating to the same, please see "Risk Factors" beginning on page 24 of the Prospectus.

The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act') or any state securities laws in the United States, and unless so registered, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in accordance with any applicable U.S. state securities laws. The Equity Shares are being offered and sold outside the United States in ‘offshore transactions' in reliance on Regulation under the Securities Act and the applicable laws of each jurisdiction where such offers and sales are made. There will be no public offering in the United States.