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September 24, 2010 - September 28, 2010

Ashoka IPO Basis of Allotment

Ashoka Buildcon Limited

(The Company was incorporated as Ashoka Buildcon Private Limited on May 13,1993. under the Companies Act; 1956, The word "private" was deleted on April 22, 2002 and the Company was converted into a public limited company. For details of changes in the name and registered office of the Company, please refer to "History and Certain Corporate Matters" on page 137 of the Prospectus). Registered Office: Survey No. 861, Ashoka House, Ashoka Marg,, Vadala, Nashik, Maharashtra - 422011.. Tel: (91253) 3011705; Fax: (91253) 2422704; Contact Person: Manoj A. Kulkarni, Company Secretary and Compliance Officer; Website: www.ashokabuildcon.com; Email: investors@ashokabuildcon.com

BASIS OF ALLOTMENT

PROMOTERS OF THE COMPANY: ASHOK M. KATARIYA, SATISH D. PARAKH, ASHISH A. KATARIYA AND ADfTYA S. PARAKH. PUBLIC ISSUE OF 6,944,444 EQUITY SHARES OF Rs. 10 EACH OF ASHOKA BUILDCON LIMITED ("ABL" OR THE "COMPANY" OR THE "ISSUER") FOR CASH ATA PRICE OF Rs. 324 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs. 314 PER EQUITY SHARE) AGGREGATING Rs. 2,250 MILLION (THE "ISSUE"). THE ISSUE INCLUDES A RESERVATION OF UP TO 34,722 EQUITY SHARES OF Rs. 10 EACH FOR THE ELIGIBLE EMPLOYEES (THE "EMPLOYEE RESERVATION PORTION"). THE ISSUE LESS THE EMPLOYEE RESERVATION PORTION IS REFERRED TO AS THE "NET ISSUE". THE ISSUE WILL CONSTITUTE 13.2% OF THE POST ISSUE PAID UP CAPITAL OF THE COMPANY ANDTHE NET ISSUE WILL CONSTITUTE 13.1% OF THE POST ISSUE PAID UP CAPITAL OF THE COMPANY.

THE FACE VALUE PER EQUITY SHARE IS Rs. 10/-. THE ISSUE PRICE PER EQUITY SHARE IS Rs. 324 AND IT IS 32.4 TIMES THE FACE VALUE.

The Company is undertaking the issue in accordance with the first proviso to Rule l9(2)(b)(ii) of the Securities Contracts Regulations Rules, 1957, as amended ("SCRR"). This issue is being made through the 100% Book Building Process Wherein at least 60% of the Net Issue shall be allocated on a proportionate basis to Qualified Institutional , Buyers (QIB) Bidders. 594 of the QIB Portion (excluding Anchor Investor Portion) shall be available for Allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, not less then 10% of the Net Issue shall be available for Allocation on a proportionate basis to Non-Institutional Bidders and not less than 30% of the Net 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. If at least 60% of the Net Issue cannot be allocated to QIBs, then the entire application money shall be refunded forthwith. Further, up to 34,722 Equity Shares shall be available for Allocation on a proportionate basis to Eligible Employees, subject to valid Bids being received at or above the Issue Price. Potential investors may participate in this Issue through an Application Supported by Blocked Amount providing details about the bank account which will be blocked by the Self Certified Syndicate Bank for the same. For details see section entitled 'Issue Procedure' on page 414 of this Prospectus.

The Company has allocated 1,243,750 Equity Shares of the QIB Portion to Anchor Investors on a discretionary basis at Rs.324 in accordance with the SEBI Regulations.

The Issue received 46,419 applications for 101,767,386 Equity Shares resulting in 14.6545 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional, Retail Individual Investors, Anchor Investors and Employee categories are as under: (Before technical rejections)

Category No. of Applications No. of Shares No. of times subscribed
A Retail Individual Bidders

45,960

7,601,979

3.6673

B Non Institutional Bidders

140

10,240,902 14.8210
C Qualified Institutional Bidders

57

80,790,402 27.8388
D Investors

247

47,397

1.3650

E Anchor

15

3,086,706

2.4815

Total

46,419

101,767,386 14.6545

Final Demand

TThe final demand at different bid prices is as under:

Bid Price

No. of shares % to total cumulative Total Cumulative % to Total

297

678,090

0.67588

100,327,101

100.0000

298

399

0.00040

99,649,011

99.3241

299

420

0.00042

99,648,612

99.3237

300

8,337

0.00831

99,648,192

99.3233

301

735

0.00073

99,639,855

99.3150

302

903

0.00090

99,639,120

99.3143

303

714

0.00071

99,638,217

99.3134 .

304

105

0.00010

99,637,503

99.3127

305

4,116

0.00410

99,637,398

99.3125

306

252

0.00025

99,633,282

99.3084

308

672

0.00067

99,633,030

99.3082

309

420

0.00042

99,632,358

99.3075

310

544,152

0.54238

99,631,938

99.3071

311

1470

0.00147

99,087,786

98.7647

312

735

0.00073

99,086,316

98.7633

314

42

0.00004

99,085,581

98.7625

315

6,405

0.00638

99,085,539

98.7625

316

84

0.00008

99,079,134

98.7561

317

10,647

0.01061

99,079,050

98.7560

318

42

0.00004

99,068,403

98.7454

320

2,163

0.00216

99,068,361

98.7454

321

441

0.00044

99,066,198

98.7432

322

84

0.00008

99,065,757

98.7428

323

1,596

0.00159

99,065,673

98.7427

324

92,465,352

92.16388

99,064,077

98.7411

CUTOFF

6,598,725

6.57.721

6,598,725

6.5772

TOTAL

100,327,101 100.00000

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited ("BSE") on
October 12, 2010.

A. Allocation to Ellgibile Employees (After Technical Rejections) (Including ASBA Applications)

The Basis of Allocation to the Eligible Employees who have bid at cut-off or at the Issue Price of Rs. 324 per Equity Share, was finalized in consultation with BSE. This category has been oversubscribed to the extent of 1.3536 times. The total number of shares allotted in Employee Reservation Portion is 34,722 Equity Shares to 234 successful Eligible Employees. The category-wise details of the Basis of Allotment are as under:

Category No. of
Applications
%
to total
Total No.
of Shares applied
% to total No. of
Shares
allocated
Ratio Total No.
of Shares
allocated

21

31

12.81

651

1.39

21

23:31 483

42

24

9.92

1,008

2.14

31

1:1

744

63

11

4.55

693

1.47 46

1:1

506

84

9

3.72

756

1.61

62

1:1

558
105

8

3.31

840

1.79

78

1:1

624
126

5

2.07

630

1.34

93

1:1

465
147

5

2.07

735

1.56 109

1:1

545
168

6

2.48

. 1,008 2.14 124

1:1

744
189

7

2.89

1,323

' 2.82 140

1:1

980
210

3

1.24

630

1.34 155

1:1

465
231

3

1.24

693

1.47 171

1:1

513
252

3

1.24

756

1.61 186

1:1

558
273

3

1.24

819

1.74 202

1:1

606
294

124

51.24 36,456 77.57 217

1:1

26,908
294

0

1

2:11

23

B. Allocation to Retail Individual Investors (After Technical Rejections) (Including ASBA Applications)

The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 324 per Equity Share, was finalized in consultation with BSE. This category has been over subscribed to the extent of 3.6237 times. The total number of shares allotted in Retail individual Investor category is 2,072,916 Equity Shares to 35,380 successful applicants. The category-wise details of the Basis of Allotment are as under:

Category No. of Applications % to
total
Total No.
of Shares applied
% to total No. of
Shares
allocated
Ratio Total No.
of Shares
allocated

21

10226 22.72 214,746 2.86 21 8:29 59,241

42

3995

8.88

167,790 2.23

21

16:29 46,284

63

2509

5.57

158,067 2.10 21 24:29 43,596

84

1666

3.70

139,944 1.86 23 1:1 38,318

105

1910

4.24

200,550 2.67 29 1:1 55,390

126

707

1.57

89,082 1:19 .35 1:1 24,745

147

1971

4.38

289,737 3.86 41 1:1 80,811

168

792

1.76

133,056 1.77 46 1:1 ' 36,432

189

306

0.68

57,834 0.77 52 1:1 15,912

210

776

1.72

162,960 2.17 58 1:1 45,008

231

195

0.43

45,045 0.60 64 1:1 12,480

252

221

0.49

55,692 0.74 70 1:1 15,470

273

234

0.52

63,882 0.85 75 1:1 17,550

294

19501 43.33 5,733,294 76.33 81 1:1 1,579,581

294

1

7:65 2,098

C. Allocation to Non Institutional Investors (After Technical Rejections) (Including ASBA Applications)

The Basis of Allocation to the Non-Institutional Investors, who have bid at the Issue Price of Rs. 324 per Equity Share, was finalized in consultation with BSE. This category has been over subscribed to the extent of 14.8006 times The total number of Equity Shares allotted in this category is 690,972 Equity Shares to 136 successful applicants. The category-wise details of the Basis of Allotment are (Sample) under:

Category No. of Applications % to
total
Total No.
of Shares applied
% to total No. of
Shares. allocated
Ratio Total No.
of Shares allocated

315

6

4.41

1,890

0.02

21

1:1 126

336

1

0.74

336

0.00

23

1:1 23

420

2

1.47

840

0.01

29

1:1 58

441

1

0.74

441

0.00

30

1:1 30

462

1

0.74

462

0.00

31

1:1 31

3402

1

0.74

3,402

0.03

230

1:1 230

4200

3

2.21

12,600 0.12

284

1:1 852

4620

1

0.74

4,620

0.05

312

1:1 312

15435

5

3.68

77,175 0.75

1043

1:1 5,215

20076

1

0.74

20,076 0.20

1356

1:1 1,356

23142

1

0.74

23,,142 0.23

1564

1:1 1,564

30660

1

0.74

30,660 0.30

2072

1:1 2,072
154308

9

6.62

1,388,772 13.58 10426 1:1 93,834
277767

2

1.47

555,534 5.43 18768 1:1 37,536
1543206

1

0.74

1543206 15.09 104261 1:1 104,261

D. Allocation to QIBs

Allocation to QIBs has been done on a proportionate basis in consultation with BSE. As per the SEBI regulations. Mutual Funds were Initially allocated 5% of the quantum of shares available (145,104 Equity Shares) and other QIBs were allocated the remaining available shares (2,756,980 Equity Shares) on proportionate basis was allocated to other QIBs on proportionate basis.

, Category

Fls/Banks

Flls

MFs VCs Total
No.of Shares

539,171

1,541,089 625,193 196,631 - 2,902,084

E. Allocation to Anchor Investors

Allocation to Anchor Investors has been done in consultation with BRLMs and Co-BRLM as per the SEBI regulations, 30% of QIB Portion (1,243,750 Equity Shares) was basis of Allotted to Anchor Investors.

Category

Flls

Banks

MFs

INC

Total
No.of Shares

465,947

92,721 513,966 171,116 1,243,750

The IPO Committee of the company at its Meeting held on October 13,2010 at Mumbai has taken on record the Basis of Allotment of shares approved by the Designated Stock Exchange, being the BSE, of the Issue and has authorized the corporate action for the transfer of the Equity Shares to various successful Bidders.

The CAN-cum-Refund Orders and Allotment advice 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 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 Equity Shares allocated to successful Bidders are being credited to their beneficiary accounts subject to validation of the account details with the Depositories concerned. The Equity Shares of the Company will be available for trading on the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited with effect from October 14,2010.

Corrigendum: In paragraph 1 in the section entitled "Issue Structure" on page 409 of the Prospectus, the second sentence should be read as "The Issue comprises a Net Issue of Rs. 2,238,750,000 to the public and a reservation for eligible employees of up to Rs. 11,250,000." In the first row of the table in the section entitled "Issue Structure" on page 409 of the Prospectus, the numbers in second, third and fourth columns should be read as 4,145,834 Equity Shares, 690,971 Equity Shares and 2,072,917 Equity Shares respectively.

INVESTORS PLEASE NOTE

This details of the Allocation made would be hosted on the website of Registrars to the Offer, Link Intime India
Private Limited at Website: www.linkintime.co.in

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:

Link intime india private ltd
C-13, Pannalal Silk Mills Compound, LB.S.Marg,. Bhandup (West), Mumbai 400 078
Tel.:+91 22 2596 0320, Fax:+91 22 2596 0329
Email ID: abl.ipo@linkintime.co.in

Place : Mumbai
Date : 13th October, 2010

For Ashoka Buildcon Limited
Manoj A. Kulkarni

Company Secretary and Compliance Officer

Ashoka IPO Basis of Allotment FAQs

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

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

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