Basis of Allotment

Not for release in the United Slates

Not for release in the United States. This is an advertisement for information purposes only. This is not a Prospectus announcement, and does not constitute an invitation or offer to acquire, purchase or subscribe for securities.
Not for publicaton or distribution, directly or indirectly outside India. All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the Prospectus dated September 10,2015.

PRABHAT DAIRY LIMITED

Our Company was incorporated as Prabhat Dairy Private Limited on November 25,1998 at Ahmednagar as a private limits company under the Companies Act. 1956. Our Company was converted into a public limited Company and consequently, the name of our company was changed to Prabhat Dairy Limited. For further Details, Please see the section entitled " History and Certain Corporate matters" on Page 150 Of the RHP.

Registered Office: 121/2A At Post Ranjankholrahala, Shrirampur. Ahmednagar 413 720; Tel; +91 24 2264 5500; Fax: +9124 2226 5016;
Corporate Office: Plot No. D-37/4, TTC MIDC Industrial Area, Turbhe, Navi Mumbai 400 705; Tel: +9122 4128 7700; Fax: +9122 4128 7777;
Contact Person: Priya Nagmoti, Company Secretary and Compliance Officer; E-mail: investors@prabhatdairy.in Website: www.prabhatfresh.com
Corporate Identity Number; U15203PN1995PLC013066.

BASIS OF ALLOTMENT

The Equity Shares are proposed to be listed on the BSE Limited ("BSE"') and the National Stock Exchange of India Limited ("NSE") and the trading will commence on or before September 21,2015.

OUR PROMOTERS: NIRMAL FAMILY TRUST,
SARANGDHAR RAMCHANDRA NIRMAL AND VIVEK SARANGDHAR NIRMAL

PUBLIC ISSUE OF 31,163,146 EQUITY SHARES OF FACE VALUE OF RS 10 EACH (THE "EQUITYSHARES") OF PRABHAT DAIRY LIMITED (OUR "COMPANY" OR "ISSUER") FOR CASH AT A PRICE OF RS 115 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF  RS 105 PER EQUITY SHAREf AGGREGATING UP TO RS 3,561.88 MILLION (" ISSUE") CONSISTING OF A FRESH ISSUE OF 26,247,421 EOUTTY SHARES AGGREGATING UP TO RS 3,000 MILLION AND AN OFFER FOR SALE OF 4,915,925 EQUITY SHARES * COMPRISING OF 1,051,317 EQUITY SHARES' BY NIRMAL FAMILY TRUST (PROMOTER), 2,194,564 EQUITY SHARES* BY THE INDIA AGRI BUSINESS FUND LTD., 7,688 EQUITY SHARES BY THE REAL TRUST, AND 1,655,156 EQUITY SHARES BY SOCIETE DE PROMOTION ET DE PARTICIPATION POUR LA COOPERATION ECONOMIQUE, THE ISSUE WILL CONSTITUTE 31.90% OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL OF THE COMPANY. OUR COMPANY AND THE SELLING SHAREHOLDERS IN CONSULTATION WITH THE GLOBAL COORDINATORS AND BOOK RUNNING LEAD MANAGERS ("'GC-BRLMS") AND THE BOOK RUNNING LEAD MANAGER {"BRLM", TOGETHER WITH THE GC-BRLMS, REFERRED TO AS THE "LEAD MANAGERS") HAVE DECIDED TO OFFER A DISCOUNT OF RS 5 PER EQUITY SHARE TO THE RETAIL INVESTORS ("RETAIL DISCOUNT") IN TERMS OF THE SEBI REGULATIONS.

Please note as per the Red Herring Prospectus, in addition to the fresh issue, an offer for sale was made for upto 14,706,000 Equity Shares comprising of upto 3,151,000 Equity Shares by Nirmal Family Trust (promoter), up to 6,580,000 Equity Shares By the India Agri Business Fund Ltd. Upto 23,000 Equity Shares by the real trust, and Upto 4,952,000 Equity Shares by Societe De Promotion Et De Participation Pour La Cooperation Economique.

THE FACE VALUE OF EQUITY SHARES IS RS 10 EACH.
THE ISSUE PRICE IS  RS 115 PER EQUITY SHARE AND IS 11.5 TIMES
HE FACE VALUE OF THE EQUITY SHARES.

BID/ISSUE: OPENED ON AUGUST 28, 2015
CLOSED OH SEPTEMBER 4, 2015*

* Pursuant to a revision in the Price Band, the Bid/issue period was extended by three Working Days from September 1,2015 fo September 4, 2015.

In terms of Rule 19(2}(b)(i) of the Securities Conrtacts (Regulation) Rules, 1957, as amended ("SCRR") this is an Issue for at least 25% of the post-issue paid up equity share capiat of our Company. The Issue is being made through the book Building Process, in compliance with Regulalion 26(1) of SEBI Regulations, wherein 50% of the Issue shall be available for allocation on a proportionate basis to QlBs, provided that our Company and the Selling Shareholders in consultation with the Lead Managers may allocate up to 50% of the QIB Category to Anchor Investors on a discretionary basis' 5% of the QIB Category (excludng the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIBCategory shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds. Subject to valid Bids being received at or above the issue Price, further, not less than 15% of the issue Shall be avaiable for allocation on a proportionate basis to Non-institutional Bidders and not less than 35% of the Issue shall be available for allocation to Retail Individual Bidders in accordance with the SEBI Regulations, subject to valid Bids being received a: or above ihe Issue Price. All potential Bidders, other than Anchor investors, may participate in the Issue through an Application Supported by Blocked Amount ('ASBA') process providing details of their respective bank account which will be blocked by the SCSBs. QIBs and Non-institutional Bidders are mandatorily required to utilise the ASBA process to participate in the Issue. Anchor Investors are not peermitted to participate in the Issue through ASBA Process. For details, please see the section entitled "Issue Procedure' on page 437 of the Prospectus.

All investors, can participate in the Issue through the ASBA process by providing the details of their respective bank accounts in which the corresponding Amount will be blocked by the SCSBs, However, QIBs and Non-institutional Investors are mandatorily required to submit their Bids by way of ASBA only. For details, please see the section entitled 'issue Procedureon page 437 of the Prospectus.

Our Company and the Selling Shareholders in Consultation with the Lead Managers have decided not to consider participation by Anchor Investors.

Anchor investors.

The Issue received 33,730 applications for 31,291,966 Equity Shares {prior to technical rejections) i.e. a subscription of 0.9659 times the Issue size as per the prospectus. The details of the applicatioris received in the Issue From retail Individual Bidders, Non-institutional Bidders. QIBs are as under (before technical rejectioris):

Sr. No. Category No. of
Applications
No. of
Equity Shares
No. of
times Subscribed
A Retail Individual Bidders 33.709 4,423.638 0.3982
B Non Instituilonal Bidders 10 8,769,072 1.8476
C Qualified Institution! Bidders 11 18,072.258 1.1388
Total 33,730 31,291,968 0.9359

Final Demand
A summary of the Final demand at different bid prices is as under.

Bid Price No. of
Equity Shares
% To
Total
Cumulative
Total
Cumulative %
of Total
115 27,462,990 70.25 27,462,990 70.25
116 1,428 6.00 27,464,418 70.25
117 1,020 0.00 27,465,438 70.25
116 306 0.00 27,465,744 70.26
119 204 0.00 27,465,948 70.26
120 5,814 0.01 27,471,732 70-27
121 13,464 0.03 27,485,226 70.30
122 408 0.00 27,485,634 70.31
123 204 0.00 27,485,838 70.31
124 102 0.00 27,485,940 70.31
125 102 0.00 27,486,042 70.31
126 50,898 0.13 27,536,940 70.44
140 6,795,852 17.38 34,332,792 87.82
141 714 0.00 34,333,506 87.82
142 31,824 0.08 34,365,330 87.90
143 306 0.00 34,365,636 87.90
144 816 0.00 34,366,452 87.91
145 2,550 0.01 34,369,002 87.91
146 306 0.00 34,369,308 87.91
147 132,090 0.34 34,501,398 87.91
CUT-OFF 4,592,958 11.75 39,094,356 100.00
TOTAL 39,094,356 100.00

The Basis of Allotment was finalised in consultation with the Designated Stock Exvhange, being NSE, on September 11,2015.

A. Allocation to Retail Individual Bidders (After Technical Rejections)

The Basis of Allotment to the Retail Individual Bidders, who have bid at the cut-off price or at Rs110 per Equity Share or above, was finalized in consultation with the NSE. This category has been subscribed to the extent of 0.3945 times (after technical rejections) of the Retail portion as per the Prospectus. The unsubscribed portion was added back toQualified Institutional Bidders (QIBs) category and Non Institutional Bidders (QIBs) category. The total number of Equity Shares in Retail Individual Bidders category is 4,381,920 Equity Shares to 33,403 successful Applicants. The Category wise details of the Basis of Allotment are as under:

Category No. of
Applications
Received
% of
Total
Total No. of
Equity
Shares applied
% of
Total
No. of Equity
Shares allotted
per applicant
Ratio Total No. of
Equity
Shares aliened
102 32,056 96.97 3,269,712 74.62 102 1:1 3,269,712
204 437 1.31 89,148 2.03 204 1:1 89,148
306 179 0.54 54,774 1.25 306 1:1 54,774
408 62 0.19 25,296 0.58 408 1:1 25,296
510 56 0.17 28,560 0.65 510 1:1 28,560
612 38 0.11 23,256 0.53 612 1:1 23,256
714 28 0.08 19,992 0 46 714 1:1 19,992
816 13 0.04 10,608 0.24 816 1:1 10,608
918 11 0.03 10,098 0 23 918 1:1 10,098
1020 17 0.05 17,340 0.40 1020 1:1 17,340
1122 2 0.01 2,244 0.05 1122 1:1 2,244
1224 3 0.01 3,672 0.08 1224 1:1 3,672
1326 69 0.21 91,494 2.09 1326 1:1 91,494
1530 8 0.02 12,240 0.28 1530 1:1 12,240
1632 115 0.34 187,680 4 28 1632 1:1 187,680
1734 309 0.93 535,806 12.23 1734 1:1 535,806
TOTAL 33,403 100.00 4,381,920 100.00 4,381,920

B. Allocation to Non-lnstitutional Bidders (After Technical Rejections)

The Basis of Allotment to the Non-institutional Bidders, who have bid at the Issue Price of Rs 115 per Equity Snare or above. was finalized in consultation with the USE, This category has been subscribed to the extend of 1,3476 times (after technical rejections) of the Non-Institutional portion as par the Prospectus. The tolal number of Equity Shares allotted in this category is 8,796,072 Equity Shanes to 10 successful applicants, The category-wise details of the Basis of Allotment are as under:

Category No. of
Applications Received
% of
Total
Total No. of
Equity Shares applied
% of
Total
No. of Equity
Shares allotted per applicant
Ratio Total No. of
Equity Shares allotted
4692 1 10.00 4,692 0.05 4692 1 :1 4,692
14994 1 10.00 14,994 0 17 14994 1 :1 14,994
17442 1 10.00 17,442 0.20 17442 1 :1 17.442
19992 1 10.00 19,992 0 23 19992 1 :1 19,992
260916 1 10.00 260,913 2.97 260916 1 :1 260,916
434724 1 10.00 434,724 4.94 434724 1 :1 434,724
869550 1 10.00 869,550 9.89 869550 1 :1 889,550
1739100 1 10.00 1,739,100 19.77 1739100 1 :1 1,739,100
2434740 1 10.00 2,434,740 27.68 2434740 1 :1 2,434,740
2999922 1 10.00 2,999,922 34.11 2999922 1 :1 2,999,922
TOTAL 10 100.00 8,796,072 100-00 8,796,072

C. Allocation toQIBs
Allotment to QIBs, who have bid at the Issue Price of Rs 115 per Equity Share or above, has been done on a proportionate basis in consultation with the BSE. This category has been subscribed to the extent of 1,1333 times {after technical rejections) of QlB portion as per the Prospectus, As per the SEBI Regulatons, Mutual Funds were allotted 5% of the Equity Shares of QIB portion available i.e. 1,052,213 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were allotted the remaining available Equity Shares i.e. 16,933,141 Equity Shares on a proportionate basis. The total number of Equity Shares allotted in the QIB category is 17,965,354 Equity Shares, which were allocated to 10 successful Applicants.

Category Fls/Banks Mrs ICs Others AIF Fll Total
QlB 0 4,344,078 3,641,400 9,999,876 0 0 17,985,354

The IPO Committee of our Company at its meeting held on September 12, 2015 has taken on record the basis of allotmem of Equity Shares approved by the Designated Stock Exchange, being NSE and has allotted the Equity Shares to various successful applicants. The CAN-cum-Refund orders and Allolment Advice have been dispatched to the address of the investors as registered with the depositories on September 14,2015. further, instructions to the SCSBs have been dispatched/mailed on September 11, 2015. incase the same is not recerved within ten days, investors may contact the Registrar to the issue at the address given below. The Refund Advices have been ever-printed with the bank account details as registered, if any, with the depositories. The Equity Shares allotted to the successful allottees have been uploaded on September 14, 2015 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned, Our Company is taking; steps to get the Equity Shares admitted for trading on the BSE and NSE within 12 Working Days of the closure of the Issue.

INVESTORS PLEASE NOTE

The details of the allotment made will be hosted on the website of the Registrar to the Issue. Karvy Computershare Private Limited at http:// www.karisma.karvy.com

All Future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting toll name of the First' Sole applicant. Serial number of the Bid-Cum-Applicaticntorm, number of Equity Shares bid for, name of the Member of the Syndicate, place where the hid was submitted and payment details at the address given below:

Karvy Computer Share Private Limited

Karvy Selenium, Tower B, Plot number 31 & 32, Gachibowli,
Financial District, Nanakramguda, Hyderabad 500 032
Tel: +9140 6716 2222; Fax: +91 40 2343 1551
E-mail: prabhat.ipo@karvy.com. Investor grievance E-mail: prabhat.ipo@karvy.com
Website: https://karisma.karvy.com
Contact Parson: M. Muralikrishna.SEBI Registration No.: INR000000221

Place. Mumbai
Date: September 15, 2015
For PRABHAT DAIRY LIMITED
On Behalf of the board of Directors
sd/-

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES OF LISTING OR THE BUSINESS PROSPECTS OF PRABHAT DAIRY LIMITED.

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