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March 26, 2007 - March 30, 2007

Advanta IPO Basis of Allotment

ADVANTA INDIA LIMITED

(Originally incorporated as ITC Zeneca Limited on January 24,1994 as a public limited company under the Companies Act, 1956. The name of the Company was changed to Advanta India Limited on September 30,1998).
Registered and Corporate Office: 405,4th Floor, 'A' Wing, Carlton Towers No. 1, Airport Road,
Bangalore - 560 008, India.
Company Secretary and Compliance Officer: Mr. K Suresh
Telephone No.:+918025209941 Fax:+918025207510,
Email: ipo@advantaindia.com, Website: www.advantaindia.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 3,380,000 EQUITY SHARES OF RS.10/- EACH OF ADVANTA INDIA LIMITED ('ADVANTA INDIA' OR THE 'COMPANY') FOR CASH AT A PRICE OF RS. 640 PER EQUITY SHARE INCLUDING A SHARE PREMIUM AGGREGATING RS. 2163.2 MILLION (THE ISSUE'). THE ISSUE WILL CONSTITUTE 20.08% OF THE POST ISSUE PAID-UP CAPITAL OF THE COMPANY.
THE FACE VALUE OF THE EQUITY SHARES IS RS. 10 EACH AND THE ISSUE PRICE IS 64 TIMES OF THE FACE VALUE.
The Issue was made through the 100% book building process wherein at least 60% of the Issue to the public was to be allocated on a.proportionate basis to Qualified Institutional Buyer (QIBs), out of which 5% of the QIB portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remaining QIB portion shall be available for allocation on a proportionate basis to all Qualified Institutional buyers, including Mutual Funds, subject to valid bids being received at or above issue price. Further, up to 10% of the Issue shall be available for allocation on a proportionate basis to Non- Institutional Bidders and up to 30% of the Net Issue to the public 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 Board of Directors of Advanta India Limited wish to thank the investing public for their response to the Issue which opened for subscription on March 26, 2007 and closed on March 30, 2007. The Issue received 3571 applications for 11670865 Equity Shares, resulting in 3.45 times subscription. The details of the subscription (The number of equity shares bid includes all shares bid at or above the bid price of 640 before technical rejections) received in the Issue from QIBs, Non-Institutional and Retail categories are as under:

Category No. of Applications (Gross) No. of Equity Shares bid Subscription
Qualified Institutional Buyers 30 11476910 5.66 times
Non-Institutional Bidders 19 16620 0.05 times
Retail Individual Bidders 3522 177335 0.17 times

Undersubscription in the Non-Institutional and Retail categories has been met by spillover from the QIB category.

Final Demand

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

Bid Price No. of Equity Shares % of Total Cumulative Equity Shares Cumulative %
600 510 0.00 13448310 100.00
605 1680010 12.49 13447800 100.00
610 20 0.00 11767790 87.50
615 10 0.00 11767770 87.50
620 40 0.00 11767760 87.50
625 9160 0.07 11767720 87.50
630 0 0.00 11758560 87.44
640 0 0.00 11758560 87.44
650 11513560 85.62 11758560 87.44
CUT-OFF 245000 1.82 245000 1.82
TOTAL 13448310 100.00

The Basis of Allocation was finalized in consultation with the Designated Stock Exchange - Bombay Stock Exchange Limited ('BSE') on April 12, 2007.

A) ALLOCATION TO RETAIL INDIVIDUAL BIDDERS
The Basis of Allocation to the Retail Individual Bidders, who have bid at and above the Issue Price of Rs. 640/- per Equity Share, was finalized in consultation with BSE. The Company has received 3430 valid applications for 174080 Equity Shares in this category resulting in 0.17 times subscription. Hence full and firm allotments have been made against all valid applications. The unsubscribed portion of 839920 equity shares has been added to Qualified Institutional Buyers category.

B) ALLOCATION TO NON-INSTITUTIONAL BIDDERS
The Basis of Allocation to the Non-Institutional Bidders, who have bid for at and above the Issue Price of Rs. 640/- per Equity Share, was finalized in consultation with BSE. The Company has received 15 valid appilications for 15770 Equity Shares in this category resulting in 0.05 times subscription. Hence full and firm allotments have been made against all valid applications. The unsubscribed portion of 322230 equity shares has been added to Qualified Institutional Buyers category.

C) ALLOCATION TO QUALIFIED INSTITUTIONAL BUYERS
All the valid bidders in the QIBs category, who have bid at and above the Issue Price of Rs.640/- per Equity Share, have been considered while preparing the basis of allotment. The Company has received 29 valid applications for 11476910 Equity Shares in this category resulting in 5.66 times subscription. The category-wise details of the Basis of allotment are as under:

Category FIs/ Banks MFs FIIs Insurance Companies Foreign Banks Venture Capital Total
No.of Equity Shares Allocated 8697 767832 2378280 35341 0 0 3190150

Allocation to Foreign institutional Investors ('FIIs') has been restricted to 24% of the post-Issue paid up capital of the Company in order to comply with the applicable restrictions on investment by Flls in the Company.
The Board of Directors of the Company vide resolution dated April 13, 2007, has approved the basis of allocation of Equity Shares and allotted the Equity Shares to various successful applicants.
The Confirmation of Allocation Note ('CAN') and Refund Orders / Direct Credit / RTGS / ECS intimation in respect of refunds due to applicants have been dispatched to the address of the investors as registered with the depositories. In case the same is not received within ten (10) days, investors may contact at the address given below. The Refund Orders have been over-printed with the Bank Mandate details as registered, if any, with the depositories. The Equity Shares allotted to successful applicants have been credited to their respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Listing application has been filed with The Bombay Stock Exchange Limited ('BSE') and The National Stock Exchange of India Limited ('NSE') on April 16, 2007. The Company is taking steps to get the Equity Shares admitted for trading on BSE and NSE within seven (7) working days from the date of approval of Basis of Allocation.

INVESTORS PLEASE NOTE
These details of allocation made would be hosted on the website of the Registrar to the Issue, Sharepro Services India Pvt. Limited at www.shareproservices.com
All future correspondence in this regard may kindly be addressed to the Registrar to the Issue, Sharepro Services India Pvt. Ltd., quoting full name of the First / Sole Applicant, Serial Number of the Bid cum Application Form, Number of Equity Shares bid for, Name of the Member of the Syndicate, Place where the bid was submitted and payment details at the address given below:

Sharepro Services India Pvt Limited,
3rd Floor, Satam Industrial Estate,
Above Bank of Baroda, Cardinal Gracious Road Chakala, Andheri (E), Mumbai - 400 099,
Tel: +91 22 28215168/69, 28508924/30, Fax: +91 22 28508927,
Website: www.shareproservlces.com, Email: ipoadvanta@shareproservices.com,
Contact person: Mr. Ravi Phulpagar

This communication is intended for release solely in India. This communication is not an offer of securities for sale in any other jurisdiction, including the United States. The securities may not be offered or sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933.



Place:
Mumbai
Date: April 18, 2007

For Advanta India Limited
Sd/-
V R Kaundinya
Managing Director

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OFTHE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF ADVANTA INDIA LIMITED.

Advanta IPO Basis of Allotment FAQs

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

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

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