Basis of Allotment
SPL INNDUSTRIES LIMITED

SPL INDUSTRIES LIMITED

(Originally incorporated in India as Shivalik Prints Privated Limited on December 6, 1991 in New Delhi under the Companies Act, 1956 vide Registration No. 05-31500. The name of the Company was changed from Shivalik Prints Limited to SPL Industries Ltd. vide Fresh Certificate of Incorporation dated Sepetember 26, 1994 and changed of registration number to 55-062744.)

Registered Office: 5/66, K.C. House, 3rd Floor, Padam Singh Road, Karolbagh, New Delhi- 110005.
Tel No.: 91-011-25789729, 25716150.

Corporate Office: Plot No.21, Sector 6, Faridabad - 121 006, Haryana. Tel No.:   0129-2240411, 5069971-72-73:
Fax No.: 0129-5069978; Website: www.spllimited.com : E-mail: bbsharma@spllimited.com

BASSI OF ALLOTMENT

PUBLIC ISSUE OF 90,00,000 EQUITY SHARES OF RS.10/- EACH ISSUED AT A PRICE OF Rs 70/- (INCLUDING OF Rs 60/-) PER EQUITY SHARES AGGREGATING RS.6300.00 LAKHS (HEREINAFTER REFERRED TO AS THE "ISSUE"). THE ISSUE CONSTITUTES 31.03% OF THE FULY DILUTED POST ISSUE PAID-UP EQUITY OF SPL INDUSTRIES LIMITED ("ISSUER" OR "THE COMPANY").

THE ISSUE PRICE OF Rs 70/- PER EQUITY SHARE OF FACE VALUE OF Rs 10/- EACH TIMES OF THE FACE VALUE

The issue was made through the 100% Book Building Process wherein upto 50% of the Issue was to be allocated on a discreationary basis of Qualified Institutional Buyers (QIBs). Further , not lesss than 15% of the Issue was to be made available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the issue was to be made available for allocation on a proportinate basis to Retail Individual Bidders, Subject to valid being received at or above the Issue Price.

The Board of Directors  fo SPL Industries Ltd. Wish to thank the investing Public for their response to the issue which opened on Wednesday, June 29 2005 and closed on Tuesday, 20 2005. The Issue received 73723 application for 11484633830 equity shares resulting in 28:26 times subscription. The details of the application received in the issue from Retail, Non Institutional and Qualified Insutitutional Investors categories are as under:

Category No. of Applications No. of Shares Subscription(No. of  Times)
Qualified Institutional Buyers 97 91670300 20.37
Non Institutional Investors 447 120825885 89.50
Retail Investors 73179 41914370 13.30

Final Demand

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

Bid Price No. of Shares % to Total Cumulative Total Cumulative % to total
60 274700 0.104 263040200 100
61 331300 0.126 262765500 99.896
62 15800 0.006 262434200 99.770
63 65200 0.025 262418400 99.764
64 900 0.000 262353200 99.739
65 702400 0.267 262352300 99.738
66 107000 0.041 261649900 99.471
67 6100 0.002 261542900 99.431
68 42200 0.016 261536800 99.428
69 1500 0.001 261494600 99.412
70 & at cut off 261493100 99.412 261493100 99.412

The Basis of Allotment was finalized in consultation with The National Stock Exchange of India Limited ("NSE") on July 15, 2005.

A.Allocation to Retail Investors
The Basis of Allocation to the Retail Investors, who have bid at cut-off or at the Issue Price of Rs.70/- per Equity Share, was finalized in consultation with NSE. The category was over subscribed 12.93 times, The total number of shares allotted in this category is 3150000 Equity Shares. The
category-wise details of the Basis of Allocation are as under:

Category No. of Applns. % to total Total No. of Shares applied % to total No. of Shares allotted Ratio Total No. of Shares applied
100 10134 14.24 1013400 2.49 100 4:51 79500
200 7343 10.32 1468600. 3.60 100 5:32 114700
300 5099 7.16 1529700 3.75 100 4:17 120000
400 3159 4.44 1263600 3.10 100 5:16 98700
500 3372 4.74 1686000 4.14 100 7:18 131100
600 1778 2.50 1066800 2.62 100 7:15 83000
700 33283 46.76 23298100 57.17 100 7:13 1792200
800 231 0.32 184800 0.45 100 2:3 15400
900 117 0.16 105300 0.26 100 3:4 8800
1000 314 0.44 314000 0.77 100 5:6 26200
1100 105 0.15 115500 0.28 100 11:13 8900
1200 110 0.15 132000 0.32 100 11:12 10100
1300 113 0.16 146900 0.36 100 FIRM 11300
1400 6019 8.46 8426600 20.68 108 FIRM 650052
1 1:125

B.Allocation to Non Institutional Investors
The Basis of Allocation to the Non institutional investors, who have bid at the Issue Price of *Rs.70/- per Equity Share, was finalized in consultation with NSE. The category was subscribed 89.30 times. The total number of shares allotted in this category is 1350000 Equity Shares. Sample
of category-wise details of the Basis of Allocation are as under:

Category No. of Applns. % to total Total No. of Shares applied % to total No. of Shares allotted Ratio Total No. of Shares applied
1500 13 3.02 19500 0.02 100 2:13 200
1600 2 0.46 3200 0.00 100 1:2 100
1700 3 0.70 5100 0.00 100 1.3 100
1900 2 0.46 3800 0.00 100 1:2 100
2000 6 1.39 12000 0.01 100 1:6 100
2400 3 0.70 7200 0.01 100 1:3 100
2500 4 0.93 10000 0.01 100 1:4 100
2600 3 0.70 7800 0.01 100 1:3 100
2700 2 0.46 5400 0.00 100 1:2 100
2800 4 0.93 11200 0.01 100 1:4 100
2900 3 0.70 8700 0.01 100 1:3 100
3000 8 1.86 24000 0.02 100 1:4 200
3500 6 1.39 21000 0.02 100 1:3 200
4000 4 0.93 16000 0.01 100 1:3 100
4200 12 2.78 50400 0.04 100 5:12 500
4500 3 0.70 13500 0.01 100 1:3 100
5000 10 2.32 50000 0.04 100 1:2 500
5400 8 1.86 43200 0.04 100 1:2 400
7000 5 1.16 35000 0.03 100 3:5 300
7100 6 1.39 42600 0.04 100 2:3 400
20000 8 1.86 160000 0.13 224 FIRM 1792
30000 3 0.70 90000 0.07 336 FIRM 1008
60000 1 0.23 60000 0.05 672 FIRM 672
100000 12 2.78 1200000 1.00 1120 FIRM 13440
200000 12 2.78 2400000 1.99 2239 FIRM 26868
500000 2 0.46 1000000 0.83 5599 FIRM 11198
1100000 1 0.23 1100000 0.91 12317 FIRM 12317
2000000 1 0.23 2000000 1.66 22394 FIRM 22394
3750000 1 0.23 3750000 3.11 41989 FIRM 41989
6250000 1 0.23 6250000 5.18 69980 FIRM 69980
9000000 4 0.93 36000000 29.86 100756 FIRM 40304

C.Allocation to QIBs

Category FIs/Banks MFs FIIs Insurance Companies Total
No.of Shares 190000 2300000 2010000 - 4500000

The Directors of the company at its Meeting held at New Delhi on 18th July, 2005 has approved the basis of allotment of shares as above and the shares to various succesful applicants have been allotted accordingly.

The CAN cum Refund Orders in respect of the refund due to applicants have been dispatched to the addres of the investors as registered with the depositories on 19th July, 2005. In cases the same is not received within ten days. Investors may contact at the address given below. The Refund Orders will be printed with the Bank Mandate details as registered, if any, with the depositories. The shares allocated to succesful 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 the National Stock Exchange of India Limited and The Stock Exchange, Mumbai within seven working days from the date of approval of the basis of allocation.

INVESTORS PLEASE NOTE

The details of the allocation made would be hosted on the website of Registrars to the Issue, Karvy Computershare Privated Limited at www.karvy.com or http://kcpl.karvy.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:

Karvy Computershare Private Limited
Unit: SPL Industries, Karvy House,
46, Avenue 4, Street No.1, Banjara Hills,
Hyderabad - 500034, Fax: 040-23311968
Email: mailmanager@karvy.com

TOLL FREE - HELPLINE NUMBERS - 1-600-3454001

Place : New Delhi
Date  : July 20, 2005

For SPL Industries Limited
Sd/-
B.B.Sharma
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 PROSPECTUS OF SPL INDUSTRIES LIMITED.
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