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March 27, 2012 - March 29, 2012

MT Educare IPO Basis of Allotment

MT EDUCARE LIMITED

(Our Company was originally incorporated as MT Educare Private Limited on August 19,2006, at Mumbai, as a private limited company under the Companies Act, 1956, as amended (the 'Companies Act'.) Our Company was converted into a public limited company on May 18,2011 and consequently, the name was changed to MT Educare Limited. For details of the change in the registered office and name of our Company, please see the section 'History and Certain Corporate Matters' on page 150 of the Prospectus.)

Registered Office: 220,2nd Floor, 'Flying Colors', Pandit Din Dayal Upadhyay Marg, L.B.S. Cross Road, Mulund (West), Mumbai 400 080
Contact Person: Ashwin M. Patel, Company Secretary and Compliance Officer; Tel: (91 22) 2593 7700; Fax: (91 22) 2593 7799;
Email: info@mteducare.com; Website: www.mteducare.com

PROMOTER OF OUR COMPANY: MAHESH R. SHETTY

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 1,23,75,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH OF MT EDUCARE LIMITED (THE 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS 80 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 70 PER EQUITY SHARE) AGGREGATING TO RS 9,900 LAKHS CONSISTING OF A FRESH ISSUE OF 43,75,000 EQUITY SHARES AGGREGATING TO RS 3,500 LAKHS (THE 'FRESH ISSUE') AND AN OFFER FOR SALE OF 80,00,000 EQUITY SHARES BY HELIX INVESTMENTS COMPANY (THE 'SELLING SHAREHOLDER') AGGREGATING TO RS 6,400 LAKHS (THE 'OFFER FOR SALE' AND TOGETHER WITH THE FRESH ISSUE, THE 'ISSUE'). THE ISSUE SHALL CONSTITUTE 31.29% OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.

BID/ISSUE OPENED ON MARCH 27, 2012 AND CLOSED ON MARCH 29, 2012

THE FACE VALUE OF THE EQUITY SHARES IS RS 10 EACH. THE ISSUE PRICE IS RS 80 PER EQUITY SHARE AND IS EIGHT TIMES THE FACE VALUE OF THE EQUITY SHARE.

The Equity Shares of the Company 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 April 12,2012.

Our Company is undertaking this Issue under Rule 19(2) (b) (i) of the Securities Contracts (Regulation) Rules, 1957 as amended ('SCRR') for more than 25% of the post-Issue capital through the Book Building Process wherein at least 50% of the Issue shall be Allotted on a proportionate basis to Qualified Institutional Buyers ('QIB'), provided that our Company may allocate up to 30% of the QIB Portion to Anchor Investors on a discretionary basis. 5% of the QIB Portion (excluding Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion 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 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 Individual Bidders, subject to valid Bids being received at or above the Issue Price.

The Issue received 6,962 applications for 54,746,560 equity shares resulting in 4.4240 times subscription. The details of the applications received in the issue from Retail Individual investor and Non-Institutional Investors are as under: (Before technical rejections)

Category No. of Applications No. of Shares No. of times subscription
A Retail Individual Bidders 6,889 9,504,480 2.194
B Non Institutional Bidders 39 14,753,840 7.948
C Qualified Institutional Buyers 28 27,785,520 6.245
D Anchor Investors 6 2,7027,20 1.555
Total 6,962 54,746,560

Final Demand
The final demand at different bid prices is as under:

Bid Price No. of Equity Shares % to Total Cumulative Total Cumulative % to total
74 6,929,840 10.817 6,929,840 10.817
75 558,160 0.871 7,488,000 11.689
76 3,120 0.005 7,491,120 11.694
77 4,184,960 6.533 11,676,080 18.226
78 203,600 0.318 11,879,680 18.544
79 1,040 0.002 11,880,720 18.546
80 43,652,480 68.141 55,533,200 86.687
Cut off Price 8,528,320 13.313 64,061,520 100.000
TOTAL 64,061,520 100.000

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE Limited ('BSE') on April 09,2012.

A. Allotment to Retail Individual Investors (After Technical Rejections)
The Basis of Allotment to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs.80 per Equity Share, was finalized in consultation with the BSE. This category has been over subscribed to the extent of 2.1800 times. The total number of shares allotted in Retail Individual Investor category is 4,331,250 Equity Shares to 6,120 successful applicants. The category-wise details (sample) of the Basis of Allotment are as under:

Category No. of
Applns.
% to
total
Total No.
of Equity
Shares applied
% to
total
No. of Equity
Shares allotted
per applicant
Ratio Total No.
of Equity
Shares allotted
80 1,105 16.33 88,400 0.94 80 11:24 40,480
160 591 8.73 94,560 1 80 11:12 43,360
240 290 4.28 69,600 0.74 110 1:1 31,900
320 211 3.12 67,520 0.72 147 1:1 31,017
480 109 1.61 52,320 0.55 220 1:1 23,980
640 129 1.91 82,560 0.87 294 1:1 37,926
720 28 0.41 20,160 0.21 330 1:1 9,240
960 55 0.81 52,800 0.56 440 1:1 24,200
1040 24 0.35 24,960 0.26 477 1:1 11,448
1440 17 0.25 24,480 0.26 661 1:1 11,237
1680 10 0.15 16,800 0.18 771 1:1 7,710
1760 7 0.1 12,320 0.13 807 1:1 5,649
1840 9 0.13 16,560 0.18 844 1:1 7,596
1920 8 0.12 15,360 0.16 881 1:1 7,048
2400 42 0.62 100,800 1.07 1,101 1:1 46,242
2480 3,044 44.98 7,549,120 79.95 1,137 1:1 3,461,028
2480 1 8:11 2,215

B. Allotment to Non Institutional Investors (After Technical Refections)
The Basis of Allotment to the Non-Institutional Investors, who have bid at the Issue Price of Rs. 80 per Equity Share, was finalized in consultation with the BSE. This category has been over subscribed to the extent of 7.9482 times. The total number of equity shares allotted in this category is1,856,250 equity shares to 39 successful applicants. The category-wise details (sample) of the Basis of Allotment are as under:

Category No. of
Applns.
% to
total
Total No.
of Equity
Shares applied
% to
total
No. of Equity
Shares allotted
per applicant
Ratio Total No.
of Equity
Shares allotted
6240 1 2.56 6,240 0.04 785 1:1 785
7200 1 2.56 7,200 0.05 906 1:1 906
10000 2 5.13 20,000 0.14 1,258 1:1 2,516
22480 1 2.56 22,480 0.15 2,828 1:1 2,828
30000 1 2.56 30,000 0.2 3,774 1:1 3,774
48000 2 5.13 96,000 0.65 6,039 1:1 12,078
58080 1 2.56 58,080 0.39 7,307 1:1 7,307
62480 1 2.56 62,480 0.42 7,861 1:1 7,861
124960 3 7.69 374,880 2.54 15,722 1:1 47,166
150000 1 2.56 150,000 1.02 18,872 1:1 18,872
374960 2 5.13 749,920 5.08 47,176 1:1 94,352
475040 1 2.56 475,040 3.22 59,767 1:1 59,767
500000 1 2.56 500,000 3.39 62,907 1:1 62,907
624960 2 5.13 1,249,920 8.47 78,629 1:1 157,258
1250000 2 5.13 2,500,000 16.94 157,269 1:1 314,538
1562480 1 2.56 1,562,480 10.59 196,583 1:1 196,583
1700000 1 2.56 1,700,000 11.52 213,884 1:1 213,884

C. Allotment to QIBs
Allotment to QIBs has been done on a proportionate basis in consultation with the BSE. As per the SEBI regulations, Mutual Funds were allotted 5% of the quantum of shares available (222,480 Equity Shares) and other QIBs were allotted the remaining available shares (4,227,106 Equity Shares) on a proportionate basis. The category-wise details of the Basis of Allotment are as under:

Category Flls Banks MFs Total
No of Shares 18,77,708 9,58,509 16,13,369 44,49,586

D. Allotment to Anchor Investors
Allotment to Anchor Investors has been done in consultation with BRLMs. As per the SEBI regulations, 30% of QIB Portion (1,737,914 Equity Shares) was allotted to Anchor Investors.

Category MFs Flls Total
No.of Shares 6,75,680 10,62,234 17,37,914

The Board of Directors of the Company at it's Meeting held on April 10,2012, has allotted the shares based on the Basis of Allotment of equity shares approved by the designated Stock Exchange viz., BSE Limited ('BSE'), Mumbai, to various successful applicants.

The Allotment Advice-cum-Refund Orders and/ or 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 the Registrar to the Issue at the address given below. The Refund Orders have been over-printed with the Bank Account details as registered, if any, with the depositories. The shares allotted to the successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned.

INVESTORS PLEASE NOTE
These details of the allotment made would be hosted on the website of Registrar to the Issue, Link Intime India Private Limited at Website: www.linkintime.co.in

All future correspondence in this regard may kindly be addressed to the Registrar 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:

Link Intime India Private Limited
C-13,Pannalal Silk Mills Compound, LB.S. Marg, Bhandup (West), Mumbai 400 078
Tel.: +9122 2596 0320 Fax: +912225960329
Email ID: mtel.ipo@linkintime.co.in

Place : Mumbai
Date : April 10,2012
For MT Educare Limited
Mr. Ashwin M. Patel
Company Secretary and Compliance Officer

MT Educare IPO Basis of Allotment FAQs

Check the basis of allotment document above to know about how the shares are allocated in MT Educare IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).

The MT Educare IPO basis of allotment (published above) tells you how shares are allocated to you in MT Educare IPO and category wise demand of IPO share.

Visit the MT Educare IPO allotment status page to check the number of shares allocated to your application.

Check the basis of allotment document above to know about how the shares are allocated in MT Educare IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).