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April 17, 2018 - April 19, 2018

Aakash Exploration IPO Basis of Allotment

AAKASH EXPLORATION SERVICES LIMITED

Corporate Identity Number: U23209GJ2007PLC049792

Our Company was originally incorporated as 'Aakash Exploration Services Private Limited' on January 17, 2007 under the Companies. Act, 1956 vide certificate of incorporation Issued by the Registrar of Companies. Gujarat Dadra and Nagar Havelli. Subsequently. Our Company was converted in to a public company and consequently name was changed to 'Aakash Exploration Services Limited' vide fresh certificate of incorporation dated November 08. 2017 issued by Registrar of Companies. Ahmedabad. For details of the changes In our name and registered office, please refler to the chapter titled 'History and Corporate Structure' beginning on page 131 of this Prospectus.

Registered Office: 424-426.4th Floor. Shukan Mall. Nr. Visal Petrol Pump. Sabarmati. Ahmedabad. Gujarat 380005. India.
Tel No: + 91 79 - 48006633 / 65423366 | E-mail: hemang@aakashexploration.com | Website: www.aakashexploration.com
Contact Person; Ms. Nikita Mahnot (Company Secretary & Compliance officer)

Promoters: Mr. Vipul Navin Haria: Mr. Hemang Navin Haria and Mr. Krunal Pravin Haria

BASTS OF ALLOTMENT

PUBLIC ISSUE OF 18,00,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH ('EQUITY SHARES')OF AAKASH EXPLORATION SERVICES LIMITED ('OUR COMPANY' OR 'THE ISSUER') FOR CASH AT A PRICE RS 56 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 46 PER EQUITY SHARE) ('ISSUE PRICE') AGGREGATING TO RS 1008 LAKHS ('THE ISSUE'), OF WHICH 90,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FOR A CASH PRICE OF RS 56 PER EQUITY' SHARE, AGGREGATING TO RS 50.4 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER (MARKET MAKER RESERVATION PORTION'). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 17.10.000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH AT AN ISSUE PRICE OF RS 56 PER EQUITY SHARE AGGREGATING TO RS 957.6 LAKHS (IS HEREINAFTER REFERRED TO AS THE ''NET ISSUE). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.67% AND 25.33%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY. FOR FURTHER DETAILS, PLEASE REFER TO SECTION TITLED 'TERMS OF THE ISSUE' BEGINNING ON PAGE 240 OF THIS PROSPECTUS.

THIS ISSUE IS BEING MADE IN TERMS OF CHAPTER XB OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009 (THE 'SEBI ICDR REGULATIONS'), AS AMENDED. THIS ISSUE IS A FIXED PRICE ISSUE AND ALLOCATION IN THE NET ISSUE TO THE PUBLIC WELL BE MADE IN TERMS OF REGULATION 43(4) OF THE SEBI (ICDR) REGULATIONS, 2009, AS AMENDED. FOR FURTHER DETAILS. PLEASE REFER TO SECTION TITLED 'ISSUE PROCEDURE' BEGINNING ON PAGE 250 OF THIS PROSPECTUS.

THE FACE VALUE OF THE EQUITY SHARES IS RS 10 EACH AND THE ISSUE PRICE IS
RS 56 THE ISSUE PRICE IS 5.60 TIMES OF THE FACE VALUE.

ISSUE OPENED ON APRIL 17, 2018 AND CLOSED ON APRIL 19, 2018

PROPOSED LISTING: APRIL 27,2018

The Equity Shares offered through this Prospectus are proposed to be listed on the SME Platform of NSE ('NSE EMERGE Platform'), in terms of the Chapter XB of the SEBI (ICDR) Regulations. 2009. as amended, our Company has received an In-principle approval letter dated March 13.2018 from NSE for using Its name In this offer document for listing of our shares on the SME Platform of NSE. For the purpose of this Issue, the Designated Stock Exchange will be the NSE. The Trading is proposed to be commenced from Friday, April 27,2018. subject to receipt of listing and trading approvals from the National Stock Exchange of India Limited.
All Applicants were allowed to participate in the Issue through APPLICATIONS SUPPORTED BY BLOCKED AMOUNT ('ASBA') process by providing the details of their respective bank accounts In which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the 'SCSBs').

SUBSCRIPTION DETAILS

The issue has received 491 applications for 23,22,000 equity shares resulting in 1.29 times subscription (including reserved portion of Market maker). The details nl applications received in the issue before technical rejections) are as follows:

Category No. of applicants % No, of quity shares % Subscription (times)
Market Maker 1 0.21 90,000 3.88 1.00
Retail individual investors 481 97.96 9,62,000 41.43 1.13
Other than retail individual Investors 9 1.83 12,70,000 54.69 1.49
Total 491 100.00 23,22,000 100.00 1.29

The details of applications rejected by the Registrar on technical grounds are detailed below:

Category No. of applicants No. of quity shares
Market Maker Nil Nil
Retail individual investors 7 14,000
Other than retail individual Investors - -
Total 7 14,000

After eliminating technically rejected applications, the following table gives us category wise net valid applications:

Category No. of applicants Issue Size No. of valid shares applied % of Total Applied Subscription (times)
Market Maker 1 90,000 90,000 3.90 1
Retail individual investors 474 8,55,000 9,48,000 41.07 1.11
Other than retail Individual Investors 9 8,55,000 12,70,000 55.03 1.49
Total 484 18,00,000 23,08,000 100.00 1.28

Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange- of India Limited- on April 24, 2018.
A) Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs 56 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.00 time The total number of shares allotted in this category is 90.000 Equity Shares.

No. of
shares
applied for
(Category
wise)
No.of
applications
received
% to
Total
Total No. of Shares
Applied
in Each
Category
% to Total Proportionate
shares
available
Allocation
per Applicant
Ratio of allottees to
applicants: RATIO 1
Ratio af
allottees to applicants:
RATIO 1
Number of
successful
applicant
(after
rounding off)
Total No. of Shares
Allocated
allotted
No. of
Shares
Surplus/
Deficit
(before rounding off) (after rounding off)
90,000 1 100.00 90,000 100.00 90,000 90,000 90,000 1 1 1 90.000 0

B) Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, at the Issue price of Rs 56 per Equity Share, was finalised in consultation with NSE. The category was subscribed by 1.11 times. The total number of shares allotted in this category is 856,000 Equity Shares to 428 successful applicants.
The Category-wise details of the Basis of Allotment are as under:

No. of
shares
applied for
(Category
wise)
No.of
applications
received
% to
Total
Total No. of Shares
Applied
in Each
Category
% to Total Proportionate shares
available
Allocation per Applicant Ratio of allottees to
applicants: RATIO 1
Ratio af
allottees to applicants:
RATIO 1
Number of
successful
applicant
(after
rounding off)
Total No. of Shares
Allocated
allotted
No. of
Shares
Surplus/
Deficit
(before
rounding off)
(after
rounding off)
2,000 474 100.00 9,48,000 100.00 856,000 1805.91 2,000 214 237 428 856,000 0

C) Allocation to Other than Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Non Retail Investors, at the issue pice of Rs 56 per Equity Share, was finalized in consultation with NSE The category was subscribed by 1.49 times, The total number of shares allotted in this category Is 8,54,000 Equity Shares to 9 successful applicants.

No. of
shares
applied for
(Category
wise)
No.of
applications
received
% to
Total
Total No. of Shares
Applied
in Each
Category
% to Total Proportionate shares
available
Allocation per Applicant Ratio of allottees to
applicants: RATIO 1
Ratio of
allottees to applicants:
RATIO 1
Number of
successful
applicant
(after
rounding off)
Total No. of Shares
Allocated
allotted
No. of
Shares
Surplus/
Deficit
(before
rounding off)
(after
rounding off)
4,000 6 66,67 24,000 1,89 16,139 2689.76 2,000 1 1 6 12,000 4,139
4,000 2,000 1 3 0 4,000 -4,000
4,00,000 2 22,22 8,00,000 62,99 5,37,953 268976.38 2,68,000 1 1 2 5,36,000 1,953
4,00,000 2,000 1 2 0 2,000 -2,000
4,46,000 1 11,11 4,46,000 35,12 2,99,909 299908.66 3,00,000 1 1 1 3,00,000 -91
Total 9 100 12,70,000 100 8,54,000 9 8,54,000 0

The Board of Directors of the Company at its meeting held on Saturday, April 25, 2018 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange v\z. National Stock Exchange of India Limited (NSE) and has authorized the corporate action for the transfer of the Equity Shares to various successful applicants.

The Refund / allotment intimation are being dispatched to the address of the Applicants as registered with the depositories on or before April 25, 2018. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount are being processed on or prior to April 25.2018. In case the same Is not received within ten days, investors may contact Registrar at the address given below.

The Equity Shares allocated to successful applicants are being credited to their benelictary 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 NSE EMERGE Platform within six working days from the date of the closure of the Issue.

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issue. SKYLINE FINANCIAL SERVICES PRIVATE LIMITED at www.skylinerta.com  All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/Sole applicants, serial number of the Application Form, number of shares applied for and Bank Branch where the application had been lodged and payment details at the address of the Registrar given below:

SKYLINE FINANCIAL PRIVATE LIMITED
4A9. Gundecha Onclave, Kherani Road. Sakinaka.
Mumhai - 400072, Tel. No.: +91-22-28511022 / 62215779
website: www.skylinerta.com. Email: virenr@skylinerta.com

Place: Ahmedabad

Date : April 25, 2018

Aakash Exploration Services Limited
For & on behalf of Board

Sd/-
Mr Vipul Navin Haria
Managing Director

Aakash Exploration IPO Basis of Allotment FAQs

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

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

Visit the Aakash Exploration 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 Aakash Exploration IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).