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Aries Agro IPO Details

Issue Open Dec 14, 2007
Issue Close Dec 19, 2007
IPO Price ₹130
Face Value ₹10
IPO Size ₹58.50 Cr
Listing At BSE, NSE
IPO Lot Size 50

aries agro limited

(The Company was originally incorporated as 'Aries Agro-Vet Industries Private Limited' on 27th November, 1969 under the Companies Act, 1956 with the Registrar ot Companies, Maharashtra and was converted into Public Limited Company under section 21 of the Companies Act, 1956 and the name was changed to 'Aries Agro-Vet Industries Limited' on 30th December, 1994. The name of the Company was further changed to 'Aries Agro Limited' and a fresh Certificate of incorporation was obtained on 27th October 2006 from the Registrar of Companies, Maharashtra, Mumbai. For details of changes in the Registered Office of theCompany, please refer to page no. 11 of this Red Herring Prospectus)
Registered & Corporate Office: Aries House, Plot No.24, Deonar, Govandi (East), Mumbai 400 043.
Tel No: +91 22 25564052/53 Fax No: +91 22 25564054/2550 2753
Contact Person/Compliance Officer: Mr. S. Ramamurthy, Chief Financial Officer,
E-mail: investorrelations@ariesagro.com, Website: www.ariesagro.com

BASIS OF ALLOTMENT

INITIAL PUBLIC ISSUE OF 45,00,000 EQUITY SHARES OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 130/- PER EQUITY SHARE (INCLUDING SHARE PREMIUM OF RS. 120/- PER EQUITY SHARE) AGGREGATING RS. 5850.00 LAKHS, (HEREINAFTER REFERRED TO AS 'THE ISSUE'). THE ISSUE CONSTITUTED 34.61 %OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY.
ISSUE PRICE IS RS. 130/- PER EQUITY SHARE OF FACE VALUE OF RS. 10/- EACH.THE ISSUE PRICE IS 13.0TIMES OF THE FACE VALUE

The Issue was made through the 100% Book Building Process wherein up to 50% of the Issue size shall be allocated on a proportionate basis to Qualified Institutional Buyers (QIBs), out ot which 5% will be available for allocation on a proportionate basis to Mutual Funds. The remaining QIB portion shall be available for allotment on a proportionate basis to QIB bidders including Mutual Funds, subject to valid bids being received at or above the Issue Price. Further, not less than 15% of the Issue size would be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Issue size would 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 opened for subscribtion on December 14,2007 and closed on December 19,2007. The Issue received 29187 applications for 30627689 equity shares resulting in 6.81 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional investors and Retail Individual Investors are as under: (Before technical rejections)

Category No. of Applications No. of shares bid Subscription
Qualified Institutional Buyers 22 17057500 7.58
Non Institutional Investors 73 3865700 5.73
Retail Individual Investors 29092 9704489 6.16

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

Bid Price No. of Equity Shares % to Total Cumulative Total Cumulative % to total
120 10250 0.0335 30627689 100.0000
121 100 0.0003 30617439 99.9665
122 550 0.0018 30617339 99.9662
123 150 0.0005 30616789 99.9644
124 100 0.0003 30616639 99.9639
125 2250 0.0073 30616539 99.9636
126 700 0.0023 30614289 99.9562
127 300 0.0010 30613589 99.9540
128 350 0.0011 30613289 99.9530
129 50 0.0002 30612939 99.9518
130 5124315 16.7310 30612889 99.9517
9999 25488574 83.2207 25488574 83.2207
TOTAL 30627689

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited ('BSE') on January 2,2008. A) Allocation to Retail Individual Investors (After Technical Rejections)
The Basis ol Allocation to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 130 per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 5.94 times. The total number of shares allotted in this category is 1575840 Equity Shares to 18024 successful applicants. The category-wise details of the Basis of Allocation (Sample) are as under:

Category No. of Applications Received % to Total No. of Equity Shares Applied in each category % to Total No. of Equity Shares Allocated Ratio Total No. of Equity Shares Allocated
50 6485 23.16 323250 3.4550 50 1:6 53900
100 4347 15.57 434700 4.6462 50 1:3 72450
150 1706 6.11 255900 2.7352 50 1:2 42650
200 2123 7.60 424600 4.5383 50 7:10 74300
250 943 3.38 235750 2.5198 50 7:8 41250
300 774 2.77 232200 2.4818 51 1:1 39474
350 1544 5.53 540400 5.7760 59 1:1 91096
400 971 3.48 388400 4.1514 67 1:1 65057
450 140 0.50 63000 0.6734 76 1:1 10640
500 673 2.41 336500 3.5966 84 1:1 56532
550 76 0.27 41800 0.4468 93 1:1 7068
600 139 0.50 83400 0.8914 101 1:1 14039
650 80 0.29 52000 0.5558 109 1:1 8720
700 159 0.57 111300 1.1896 118 1:1 18762
750 7777 27.86 5832750 62.3427 126 1:1 979902

B) Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to this category, who has bid at the Issue Price of Rs. 130 per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 5.73 times. The total number of shares allotted in this category is 675009 Equity Shares to 63 successful applicants. The category-wise details ol the Basis of Allocation (Sample) are as under:

Category No.of Applications Received % to total Total No. ot Equity Shares applied in each category % to total No. of Shares Equity Shares allocated Ratio Total No. of Equity Shares allocated
800 2 3.17 1600 0.04 141 1:1 282
850 1 1.59 850 0.02 149 1:1 149
1000 1 1.59 1000 0.03 175 1:1 175
1200 2 3.17 2400 0.06 211 1:1 422
1500 1 1.59 1500 0.04 263 1:1 263
1600 1 1.59 1600 0.04 281 1:1 281
2000 3 4.76 6000 0.16 351 1:1 1053
2500 2 3.17 5000 0.13 439 1:1 878
3300 2 3.17 6600 0.17 579 1:1 1158
3750 1 1.59 3750 0.10 658 1:1 658
4000 2 3.17 8000 0.21 702 1:1 1404
4800 1 1.59 4800 0.12 842 1:1 842
5000 3 4.76 15000 0.39 877 1:1 2631
6000 1 1.59 6000 0.16 1052 1:1 1052
7500 5 7.94 37500 0.97 1315 1:1 6575
7700 2 3.17 15400 0.40 1350 1:1 2700
7750 1 1.59 7750 0.20 1359 1:1 1359
8000 2 3.17 16000 0.42 1403 1:1 2806
10000 3 4.76 30000 0.78 1753 1:1 5259
11500 1 1.59 11500 0.30 2016 1:1 2016
12700 1 1.59 12700 0.33 2227 1:1 2227
15350 1 1.59 15350 0.40 2691 1:1 2691
19000 1 1.59 19000 0.49 3331 1:1 3331
19200 2 3.17 38400 1.00 3367 1:1 6734
20000 1 1.59 20000 0.52 3507 1:1 3507
22100 1 1.59 22100 0.57 3875 1:1 3875
23050 1 1.59 23050 0.60 4042 1:1 4042
23100 1 1.59 23100 0.60 4050 1:1 4050
28500 1 1.59 28500 0.74 4997 1:1 4997
38450 7 11.11 269150 6.99 6742 1:1 47194
50000 1 1.59 50000 1.30 8767 1:1 8767
74650 1 1.59 74660 1.94 13089 1:1 13089
135000 1 1.59 135000 3.51 23671 1:1 23671
192500 1 1.59 192500 5.00 33753 1:1 33753
200000 1 1.59 200000 5.20 35068 1:1 35068
307700 1 1.59 307700 7.99 53952 1:1 53952
400000 1 1.59 400000 10.39 70136 1:1 70136
486200 1 1.59 486200 12.63 85251 1:1 85251
1350000 1 1.59 1350000 35.07 236711 1:1 236711

C) Allocation to QIBs
Allocation to QIBs has been done on a proportionate basis in consultation with BSE. As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available i.e., 112500 equity shares and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares i.e., 2137500 equity shares on proportionate basis.

Category M.F Flls Fl VC's Total
No. of Shares 5,81,602 16,11,154 19,401 37,843 22,50,000

The Board of Directors of the company at it's Meeting held at Mumbai on January 02,2008 has approved the basis of allocation of shares and has allotted the shares to various successful applicants.
The CAN-cum-Refund Orders and ECS/RTGS/NEFT/Direct Credit Intimation and notices (wherever applicable) 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 Mandate details as registered, if any, with the depositories. The shares allocated to the successful applicants are being 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 National Stock Exchange of India Limited and the Bombay Stock Exchange Limited within seven working days from the date of finalisation of the basis of allotment.

INVESTORS PLEASE NOTE
The details of the allocation made would be hosted on the website of Registrars to the Issue, Aarthi Consultants Private Limited at www.aarthiconsultants.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:

Aarthi Consultants Private Limited
Unit: Aries Agro Limited
1-2-285,Domalguda,Hyderabad-500029,AndhraPradesh,India.Tel: +91-40-27634445/27642217,Fax: +91-40-27632184
E-mail: aries@aarthiconsultants.com, Website: www.aarthiconsultants.com
SEBI Regn. No.: INR 000000379

Place: Mumbai
Date: January 4, 2008
For Aries Agro Limited
For and on behalf of the Board of Directors
Sd/
Joint Managing Director

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, PROSPECTS OF ARIES AGRO LIMITED.

Aries Agro IPO Basis of Allotment FAQs

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

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

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