Basis of Allotment

THIS IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY AND IS NOT A PROSPECTUS ANNOUNCEMENT THIS DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE. PURCHASE OR SUBSCRIBE FOR SECURITIES. NOT FOR RELEASE. PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, OUTSIDE INDIA.

wpe4B.jpg (5106 bytes) SHYAM METALICS AND ENERGY LIMITED

Shyam Metalics and Energy Limited ("Company") was originally incorporated as Shyam DRI Power Limited on December 10, 2002 at Kolkata. West Bengal. India as a public limited company under the Companies Act, 1956 and received the certificate for commencement of business from the Registrar of Companies West Bengal at Kolkata ('RoC') on December 11, 2002. Subsequently, the name of our Company was changed to Shyam Metalics and Energy Limited vide a special resolution passed by our Shareholders on November 23, 2009 and a fresh certificate of incorporation consequent upon change of name was issued by the RoC on January 5, 2010. For details of the change the name and registered office of our Company, please see the section ended 'History and Certain Corporate Matters' on page 158 of the Prospectus dated June 17, 2021 ("Prospectus") and filed with the RoC..

Registered and Corporate Office: Trinity Tower, 7th Floor, 83, Topsia Road, Kolkata - 700046, West Bengal India Contact Person: Birendra Kumar Jain, Company Secretary and Compliance Officer; Tel: +91 33 4016 4000.
E-mail: compliance@shyamgroup.com Website: www.shyammetakes.com, Corporate Identity Number: U40101WB2002PLC095491

OUR PROMOTERS: MAHABIR PRASAD AGARWAL, BRIJ BHUSHAN AGARWAL, SANJAY KUMAR AGARWAL, SUBHAM CAPITAL PRIVATE LIMITED, SUBHAM BUILDWELL PRIVATE LIMITED, NARANTAK DEALCOMM LIMITED, KALPATARU HOUSEFIN & TRADING PRIVATE LIMITED, DORITE TRACON PRIVATE LIMITED AND TOPLIGHT MERCANTILES PRIVATE LIMITED

Our Company has filed the Prospectus with the RoC, and the Equity Shares are proposed to be listed on the National Stock Exchange of India Limited ('NSE') and BSE Limited ('BSE') and trading is expected to commence on June 24, 2021.

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFER OF 29,705,880 EQUITY SHARES OF FACE VALUE OF Rs.10 EACH ("EQUITY SHARES") OF SHYAM METALICS AND ENERGY LIMITED ("COMPANY" OR "ISSUER") FOR CASH AT A PRICE OF Rs. 306 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF 296 PER EQUITY SHARE) ("OFFER PRICE") AGGREGATING TO 9087.97*^ MILLION ("OFFER") COMPRISING A FRESH ISSUE OF 21,470,588 EQUITY SHARES AGGREGATING TO 6567.97 MILLION BY OUR COMPANY (THE "FRESH ISSUE") AND AN OFFER FOR SALE OF 82,35,292 EQUITY SHARES AGGREGATING TO Rs. 2,520.00 MILLION ("OFFER FOR SALE"), COMPRISING 1,209,150 EQUITY SHARES AGGREGATING TO RS. 370.00 MILLION BY SUBHAM CAPITAL PRIVATE LIMITED, 2,058,823 EQUITY SHARES AGGREGATING TO 630.00 MILLION BY SUBHAM BUILDWELL PRIVATE LIMITED, 816.993 EQUITY SHARES AGGREGATING TO 250.00 MILLION BY KALPATARU HOUSEFIN & TRADING PRIVATE LIMITED, 980,392 EQUITY SHARES AGGREGATING TO Rs. 300.00 MILLION BY DORITE TRACON PRIVATE LIMITED AND 3,169,934 EQUITY SHARES AGGREGATING TO Rs. 970.00 MILLION BY NARANTAK DEALCOMM LIMITED (COLLECTIVELY, THE "PROMOTER SELLING SHAREHOLDERS" OR THE "SELLING SHAREHOLDERS", AND SUCH EQUITY SHARES, THE "OFFERED SHARES"). THE OFFER CONSTITUTES 11.65 % OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY. THE OFFER INCLUDED A RESERVATION OF 300,000 EQUITY SHARES, AGGREGATING TO Rs. 87.30 MILLION, FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (THE "EMPLOYEE RESERVATION PORTION"). THE OFFER AND NET OFFER CONSTITUTE 11.65% AND 11.59%. RESPECTIVELY, OFTHE POSTOFFER PAID-UP EQUITY SHARE CAPITAL OF THE COMPANY.

THE FACE VALUE OF THE EQUITY SHARES IS Rs. 10 EACH. THE OFFER PRICE IS Rs. 306 PER EQUITY SHARE AND IS 30.6 TIMES THE FACE VALUE OF THE EQUITY SHARES.

^ A discount of 4.90 % on the Offer Price was offered to the Eligible Employees Bidding in the Employee Reservation Portion Employee Discount equivalent to 15 per Equity Share.

* The Eligible Employees Portion was subscribed to the extent of 0.4501 times and 135,045 Equity Shares were allotted to 177 successful Bidders (after rejections) in this category. The unsubscribed portion constituting 164,955 Equity Shares from the Employee Reservation Portion spilled over and were allotted to Bidders in the QIBs, NIB and Retail Categories in the ratio of 50:15:35. Accordingly the Allotment to Eligible Employees was for 135,045 Equity Shares amounting to Rs. 39.30 million.

OFFER PRICE: Rs. 306 PER EQUITY SHARE OF FACE VALUE OF Rs. 10 EACH
THE OFFER PRICE IS 30.6 TIMES OF THE FACE VALUE
Risks to Investors:
The five Book Running Lead Managers associated with the Offer have handled 37 public offers in the past 3 years out of which 13 offers closed below the offer price on listing date.
The Price/Earnings ratio based on diluted EPS for Fiscal 2020 for the Company at the upper end of the Price band is 21.00.
Weighted Average Return on Net Worth for Fiscals 2020,2019 and 2018 is 17.93%.
Average Cost of acquisition of Equity Shares of our Promoters Mr. Mahabir Prasad Agarwal, Mr. Brij Bhushan Agarwal, Mr. Sanjay Kumar Agarwal, Subham Capital Private Limited, Subham Build well Private Limited, Narantak Dealcomm Limited, Kalpataru Housefin & Trading Private Limited and Dorite Tracon Private Limited and Top light Mercantiles Private Limited is Rs. 2.00;Rs. 0.75, Rs. 4.29, Rs. 2.54, Rs. 2.37, Rs. 10.39,Rs. 8.04, Rs. 10.72 and Rs. 5.94 respectively and the Offer Price at the upper end of the Price Band is Rs. 306 per Equity Share.
BID/QFFER PROGRAMME
BID/OFFER OPENED ON JUNE 14,2021
BID/OFFER CLOSED ON JUNE 16, 2021

The Offer has been made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR") read with Regulation 31 of the SEBI ICDR Regulations. The Offer has been made in accordance with Regulation 6(1) of the SEBI ICDR Regulations, through the Book Building Process wherein not more than 50% of the Net Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs") ('QIB Portion'), of which our Company and the Promoter Selling Shareholders in consultation with the BRLMs has allocated up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations, out of which one-third was reserved for domestic Mutual Funds only, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Offer Price, in accordance with the SEBI ICDR Regulations. 5% of the QlB Portion (excluding the Anchor investor Portion) was made available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion was made 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 Offer Price. Further not less than 15% of the Net Offer was made available for allocation on a proportionate basis to Non-ln$b1utional Bidders and not less than 35% of the Net Offer was made available for allocation to Retail Individual Bidders m accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Further. Equity Shares were allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price. An Bidders, other than Anchor Investors, were required to mandatory participate in the Offer through the Application Supported by Blocked Amount (ASBA) process providing details of their respective bank accounts which were blocked by the Self Certified Syndicate Banks ('SCSBs') or through the UPI Mechanism Anchor Investors were not permitted to participate in the Anchor Investor Portion through the ASBA process. For details, please see the section entitled "Offer Procedure" on page 362 of the Prospectus.

The Offer received 1,851,979 applications for 2,524,153,680 Equity Shares resulting in 84.97 times subscription as disclosed m Prospectus. The details of the applications received in the Offer from Retail Individual Investors, Non Institutional Bidders, Employee Reservation Portion, QlBs and Anchor Investors are as under (before technical rejections):

SI. no Category No. of Applications applied No. of Equity Shares Shares Reserved as per Prospectus No. of times Subscribed Amount (Rs.)
A Retail Individual Bidders 1,842,707 106,519,410 10,292,058 10.35 32,595,230,466
B Non-institutional Bidders 4,424 1,483,182,630 4,410,882 336.26 453,853,826,595
C Employee Investors 4,704 466,065 300,000 1.55 135,676,305
D Qualified Institutional Bidders (excluding Anchor Investors) 122 923,756,670 5,881,176 157.07 282,669 541,020
E Anchor investors 22 10,228,905 8,821,764 1.16 3,130 044,930
Total 1,851,979 2,524,153,680 29,705,880 84.97 772,384,319,316

Final Demand

A summary and of the final demand as per BSE and N SE as on the Bid-Offer Closing Date at different Bid prices is as under:

SI. no Bid Price No. of Equity Shares % to Total Cumulative Total Cumulative % of Total
1 303 1,078,920 0.04 1,078,920 0.04
2 304 915,165 0.04 1,994,085 0.08
3 305 1,222,965 0.05 3,217,050 0.13
4 306 2,470,116,690 96.22 2,473,333,740 96.34
5 Cut-Off 93,875,760 3.66 2,567,209,500 100.00
TOTAL 2,567,209,500 100.00

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE on June 21.2021.

A. Allotment to Retail Individual Investors (After Technical Rejections) (including ASBA Applications)

The Basis of Allotment to the Retail Individual Investors, who have bid at cut-off or at the Offer Price of Rs. 306 per Equity was finalized in consultation with BSE. This category has been subscribed to the extent of 9.9467 times. The total number of Equity Shares Allotted in Retail Individual Bidders category is 10,349,793 Equity Shares to 229,995 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 % to Total No. of Equity Shares Allotted per Bidder Ratio Total No. of Equity Shares Allotted
45 1,632,755 91.51 73,473,975 71.37 45 62:481 9,470,655
90 79,987 4.48 7,198,830 6.99 45 62:481 463,950
135 20,272 1.14 2,736,720 2.66 45 62:481 117,585
180 12,335 0.69 2,220,300 2.16 45 62:481 71,550
225 7,001 0.39 1,575,225 1.53 45 62:481 40,590
270 3,273 0.18 883,710 0.86 45 62:481 18,990
315 4,211 0.24 1,326,465 1.29 45 62:481 24,435
360 2692 0.15 969,120 0.94 45 62:481 15,615
405 828 0.05 335,340 0.33 45 107:828 4,815
450 4,094 0.23 1,842,300 1.79 45 62:481 23,760
495 1,012 0.06 500,940 0.49 45 62:481 5,850
540 803 0.05 433,620 0.42 45 104:803 4,680
585 739 0.04 432,315 0.42 45 95:739 4,275
630 14 314 0.80 9,017,820 8.76 45 62:481 83,025
TOTAL 1,784,316 100.00 102,946,680 100.00 10,349,793*^

^Includes spilled over of 57.735 Equity Shares from Employee category.

* Please Note: 1 additional Share shall be allotted to 18 Allotments from amongst 19536 successful Bidders from the categories 90-630 (i.e. Excluding successful Bidders from Category 45) in the ratio of 3:3256

B. Allotment to Non Institutional Bidders (After Technical Rejections) (including ASBA Applications)

The Basis of Allotment to the Non-institutional Bidders, who have bid at the Offer Price of Rs. 306 per Equity Share or above, was finalized in consultation with BSE. This category has been subscribed to the extent of 332.6187 times. The total number of Equity Shares allotted in this category is a. 435,626 Equity Shares to 1788 successfully applicants. The category-wise details of the Basis of Allotment are as under (Sample)

Category No. of Applications Received % of Total Total No. of Equity Shares Applied % to Total No. of Equity Shares Allotted per Bidder Ratio Total No. of Equity Shares Allotted
675 1011 23.52 662,425 0.05 45 46:1011 2,070
720 89 2.07 64,080 000 45 4:89 180
765 29 0.67 22,165 0.00 45 2:29 90
3*0 57 1.33 46,170 0.00 45 3:57 135
655 8 0.19 6,840 0.00 45 0:8 0
900 160 3.72 144,000 0.01 45 1:16 450
945 52 1.21 49,140 0.00 45 3:52 135
990 78 1.81 77,220 0.01 45 5:78 225
1065 27 0.63 27,945 0.00 45 2:27 90
1080 11 0.26 11,880 0.00 45 1:11 45
7516305 2 0.05 15,032,610 1.02 22597 1:1 45,194
8104545 1 0.02 8,104,545 0.55 24366 1:1 24,366
8169930 6 0.14 49,019,560 3.32 24562 1:1 147,372
8201970 1 0.02 8,201,970 0.56 24659 1:1 24,659
9803680 1 0.02 9,803,860 0.66 29460 1:1 29,460
10457505 1 0.02 10,457,505 0.71 31424 1:1 31,424
10865970 1 0.02 10,865,970 0.74 32651 1:1 32,651
11437875 20 0.47 228,757,500 15.51 34386 1:1 687,720
14704335 1 0.02 14,704,335 1.00 44188 1:1 44,188
TOTAL 4298 100 1,475,372,520 100.0 4,435,626*

*Includes spilled over of 24,744 Equity Shares from Employee category

C. Allotment to Employee Reservation (After Technical Rejections) (Including ASBA Applications)

The Basis of Allotment to the Employee Reservation category, who have bid at the Offer Price of Rs. 291 per Equity Share or above, was finalized in consultation with BSE. This category has been subscribed to the extent of 0.4501 times. The total number of Equity Shares allotted in this category is 135,045 Equity Shares to 177 successful applicants. The category-wise details of the Basis of Allotment are asunder: (Sample)

Category No of Applications Received % of Total Total No. of Equity Shares Applied % of Total No. of Equity Snares Allotted per 8iddor Ratio Total No. of Equity Shares Allotted
48 40 22.60 1,803 1.33 45 1:1 1,800
90 20 11.30 1,000 1.33 90 1.1 1,800
135 11 6.21 1,485 1.10 135 1:1 1,485
180 11 6.21 1,990 1.47 180 1:1 1,980
225 2 1.13 450 0.33 225 1:1 450
270 2 1.13 540 0.40 270 1:1 540
315 3 1.69 945 0.70 315 1:1 945
360 4 2.26 1,440 1.07 360 1:1 1,440
05 2 1.13 810 0.60 405 1:1 810
50 1 0.50 450 0.33 450 1:1 450
495 2 1.13 390 0.73 495 1:1 990
540 1 0.56 540 0.40 540 1:1 540
630 1 0.56 530 0.47 530 1.1 630
675 3 1.69 2,025 1.50 675 1:1 2,025
85 1 056 855 0.63 855 1:1 855
900 1 0.50 900 0.67 900 1:1 900
1035 3 1.69 3,105 2.30 1035 1:1 3,105
1125 1 056 1,125 0.83 1125 1:1 1,125
1260 1 0.56 1,280 0.93 1200 1:1 1,260
1350 3 1.69 4,050 3.00 1350 1:1 4,050
1395 1 0.56 1,395 1.03 1395 1:1 1,395
140 1 0.56 1,440 1.07 1440 1:1 1,440
185 1 0.56 1,405 1.10 1485 1:1 1,485
1575 1 0.66 1,575 1.17 1575 1:1 1,485
1620 7 3.95 11,340 8.40 1620 1:1 11,340
110 53 29.94 90,330 67.11 1710 1:1 90,630
TOTAL 177 104.00 135,045 100.00 135,045*

*Unsubscribed portion of 164,955 Equity Shares spilled over to QIB, NIB & Retail Categories in the ratio of 50:15:35 respectively.

D. Allotment to QIBs (After Technical Rejections)

Allotment to QIBs, who have bid at the Offer Price of Rs. 306 per Equity Share or above, has been done on a proportionate basis in consultation with BSE This category has been subscribed to the extent of 154.8978 times of Net QIB portion, As per the SEBIICDR Regulations, Mutual Funds were allotted 5% of the Equity Shares of Net QIB portion available i.e. 298,183 Equity Shares and other QIBs and unsatisfied demand of allotted the remaining available Funds were able Equity Shares i ,e. 5,665,469 Equity Shares on a proportionate basis. The total number of Equity Shares allotted in the QIB category is 5,963,652 Equity Shares, which were allotted to 122 successful Applicants.

Category FI's Banks Flls/FPIs IC MFs NBFC OTHs Total
Equity Shares 1,929,259 1,740,821 29,410 597,012 - 1,667,150 5,963,652*

*Includes spilled over of 82,476 Equity Shares from Employee category.

E. Allotment to Anchor Investors (After Technical Rejections)

The Company and the Selling Shareholders, in consultation with the BRLMs, have allocated 8,821,764 Equity Shares to 21 Anchor Investors 'who had applied through 22 Applications (including 4 Mutual Funds through 5 schemes) at the Anchor Investor Offer Price oft 306 per Equity Share in accordance with the SEBIICDR Regulations This represents 60% of the QIB Portion,

Category FIs/Banks MFs ICs VCF AIFs FPI/Flls OTHs Total
Equity Shares 3,006,450 490,275 - 980,460 4,344,579 - 8,821,764

The Board of Directors of our Company on Monday, June 21, 2021 has Allotted Equity Shares to Allotment based on the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being BSE, The Allotment Advice Cum Refund intiamation will be emailed or dispatched to the email Id or address of the investors as registered its the depositories. Further, instructions to the SCSBs have been issued for unblocking of funds and transfer to the Public Offer Account on June 21, 2021 and the payments to non-syndicate brokers have been issued on June 23, 2021. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares allotted to the successful allotted have been uploaded on June 22, 2021 for credit into the respective beneficiary accounts subject to validation of the account details 'with the depositories concerned, The Company has received the listing and trading approval from BSE and NSE and trading is expected to commence on or about June 24, 2021.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.

INVESTORS PLEASE NOTE

The details of the Allotment made shall be hosted on the website of Registrar to the Offer, KF in Technologies Private Limited at www.kfintech.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 name of the Member of the Syndicate, place where the bid was submitted and payment delays at the address given below:

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KFIN TECHNOLOGIES PRIVATE LIMITED
(Formerly known as ‘Karvy Fintech Private Limited")
Selenium Tower B. Plot No, 31 & 32. Financial District, Nanakramguda, Serilingampally Hyderabad 500 032.
Tel: +91 40 6716 2222, E-mail: eimard.ris@kaivy.com, Investor grievance email: einward.ris@kfintech.com
Website: www.kfintecft.com: Contact Person: M. Muraii Krishna, SEBI Registration No.: INR000000221
For SHYAM METAUCS AND ENERGY LIMITED
On behalf of the Board of Directors
Place: Kolkata, West Bengal Sd./-
Date : June 23, 2021 Company Secretary & Compliance Officer

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THEBUSINESS PROSPECTS OF SHYAM METALICS AND ENERGY LIMITED.

SHYAM METALICS AND ENERGY LIMITED has filed the Prospectus with the RoC and thereafter with SEBI and the Stock Exchanges The Prospectus is available on the website of the SEBI at www.sebi.gov.in as 'well as on the websites of the book running lead managers, ICICI Securities Limited, Axis Capital Limited, IIFL Securities Limited, JM Financial Limited and SBI Capital Markets Limited at www.icicisecurities.com, www.axscapitai.co.in, www.iifcap.com, www.jmfl.com and www.sbicaps.com, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risks, see "Risk Factors" on page 21 of the Prospectus.

The Equity Shades have not Peen and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act') or any otter applicable law of the Untied States and, unless so registered, 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 U.S. Securities Act and applicable state securities laws. Accordingly, the Equity Shares are being offered and sold (a) in the United States only to persons reasonably believed to be "qualified institutional buyers" (as defined in Rule 144A under the U.$. Securities Act and referred to in the Red Herring Prospectus as "U.S. QIBs") in transactions exempt from the registration requirements of the U.S. Securities Act and (b) outside the United States in compliance with Regulation S and the applicable laws of the jurisdiction where those offers and sales are made. There will be no public offering in the United Slates.

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