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December 14, 2006 - December 20, 2006

Ashtavinayak IPO Basis of Allotment

SHREE ASHTAVINAYAK CINE VISION LIMITED

(incorporated as 'Shree Ashtavinayak cine vision private limited' on October 23,2001 at Mumbai under the Companies Act, 1956 and converted into public limited company as 'Shree Ashtavinayak Cine Vision Limited' on June 25, 2004)
Regd Office : A-204/205 VIP Plaza, 2nd Floor, Block-B, Veera Industrial Estate, Off Andheri Link Road, Andheri (W), Mumbai 400053. Tel: +91-22-67029630, Fax: +91-22-67029634.
Website: www.ashtavinayak.com Email: ipo@ashtavinayakindia.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 37,28,000 EQUITY SHARES OF RS.10/- EACH FOR CASH AT A PRICE OF RS. 160/- PER EQUITY SHARE AGGREGATING RS. 5964.80 LAKHS (REFERRED TO AS 'THE ISSUE'). INCLUDING PROMOTERS CONTRIBUTION OF 4, 28,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH AT A PRICE OF RS.160/- FOR CASH AT A PREMIUM AGGREGATING TO RS. 684.80 LAKHS AND NET ISSUE TO PUBLIC OF 33,00,000 EQUITY SHARES OF FACE VALUE OF RS.10/- EACH AT A PRICE OF 160 AT A PREMIUM AGGREGATING RS 5280 LAKHS (HEREIN AFTER REFERRED TO AS THE 'NET ISSUE TO THE PUBLIC') THE ISSUE WILL CONSTITUTE 32.89% OF THE FULLY DILUTED POST ISSUE CAPITAL OF THE COMPANY.

THE FACE VALUE PER EQUITY SHARE IS RS.10/- EACH FOR CASH AT A PRICE OF RS.160/- EACH AND THE ISSUE PRICE IS 16 TIMES OF THE FACE VALUE.

The Issue is being made through 100% Book Building Process, where at least 50% of the Net Issue to the Public shall be allocated on proportionate basis to Qualified Institutional Buyers (5% of the QIB portion shall be available for allocation on proportionate basis for Mutual Funds only). If atleast 50% of the Net Issue to the public cannot be allocated to QIB Bidders, than the entire application money will be refunded. Further not less than 15% of the Net Issue to the Public shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Net Issue to the Public shall be available for allocation to Retail Individual Investors on proportionate basis, subject to the valid bid received at or above the issue price.

The Issue received 13119 applications for 18658560 equity shares resulting in 5.6541 times subscription. The details of the applications received In the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Investor categories are as under: (Before technical rejections)

Category No. of
Applications
No. of Shares Subscription
Qualified Institutional Buyers 16 10111040 6.1279
Non Institutional Investors 108 4273400 8.6331
Retail Investor 12995 4274120 3.7005

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

Bid Price No.of Shares % to Total Cumulative Total Cumulative % to total
140 93600 0.4652 20120080 100.0000
141 2120 0.0105 20026480 99.5348
142 40 0.0002 20024360 99.5243
143 80 0.0004 20024320 99.5241
145 1040 0.0052 20024240 99.5237
147 80 0.0004 20023200 99.5185
148 120 0.0006 20023120 99.5181
149 80 0.0004 20023000 99.5175
150 83440 0.4147 20022920 99.5171
151 80 0.0004 19939480 99.1024
152 40 0.0002 19939400 99.1020
154 40 0.0002 19939360 99.1018
155 1000 0.0050 19939320 99.1016
157 160 0.0008 19938320 99.0966
160 15696160 78.0124 19938160 99.0958
Cut off 4242000 21.0834 4242000 21.0834
Total 20120080 100.0000

The Basis of Allotment was finalized in consultation with Bombay Stock Exchange Limited ('BSE') on 2nd January, 2007

A. Allocation to Retail Investors
The category (net of technical /multiple rejections) was over subscribed 3.6413 times. The total number of shares allotted in this category is 1155008 Equity Shares to 10365 allottees ie 81.435% of valid applicants. The category-wise details of the Basis of Allotment are as under:

Category No. of Applns. % to total Total No.of
Shares applied
% to total No. of Shares
allocated
Ratio Total No. of
Shares allocated
40 2245 17.64 89800 2.14 40 27:100 24240
80 1263 9.92 101040 2.40 40 11:20 27800
120 865 6.80 103800 2.47 40 41:50 28360
160 440 3.46 70400 1.67 43 FIRM 18920
200 436 3.43 87200 2.07 54 FIRM 23544
240 193 1.52 46320 1.10 66 FIRM 12738
280 1827 14.35 511560 12.16 77 FIRM 140679
320 154 1.21 49280 1.17 88 FIRM 13552
360 37 0.29 13320 0.32 98 FIRM 3626
400 83 0.65 33200 0.79 110 FIRM 9130
440 17 0.13 7480 0.18 121 FIRM 2057
480 37 0.29 17760 0.42 131 FIRM 4847
520 28 0.22 14560 0.35 143 FIRM 4004
560 44 0.35 24640 0.59 154 FIRM 6776
600 5059 39.75 3035400 72.17 165 FIRM 834735

B. Allocation to Non Institutional Investors
The category was subscribed (net of technical /multiple rejections) 8.5448 times. The total number of shares allotted in this category is 494992 Equity Shares to 99 allottees. The details of basis of allotment of some of the categories are as under: (Sample)

Category No. of Applns. % to total Total No.of
Shares applied
% to total No. of Shares
allocated
Ratio Total No. of
Shares allocated
800 1 1.01 800 0.02 94 FIRM 94
1560 4 4.04 6240 0.15 183 FIRM 732
3200 1 1.01 3200 0.08 374 FIRM 374
10000 1 1.01 10000 0.24 1170 FIRM 1170
22000 1 1.01 22000 0.52 2575 FIRM 2575
31280 2 2.02 62560 1.48 3661 FIRM 7322
40000 1 1.01 40000 0.95 4681 FIRM 4681
60000 2 2.02 120000 2.84 7022 FIRM 14044
80000 1 1.01 80000 1.89 9362 FIRM 9362
150000 1 1.01 150000 3.55 17555 FIRM 17555
400000 1 1.01 400000 9.46 46812 FIRM 46812
625000 1 1.01 625000 14.78 73144 FIRM 73144
1250000 1 1.01 1250000 29.55 146276 FIRM 146276

C. Allocation to QlBs
As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available (82500) and other QIB's and unsatisfied demands of Mutual Funds were allotted the remaining available shares(1567500) on proportionate basis. Total number of shares allotted in this category is 1650000 Equity Shares to 16 allottes i.e. 100% of valid applicants. Mutual Funds were allotted 13.11% and other QIB applicants were allotted 86.89% of the shares allotted in the QIB category.

Category Fls/Banks MFs Flls Insurance Companies Total
No.of Shares 531432 216338 902230 - 1650000

The Committee of Directors for IPO of the company at it's Meeting held at Vapi, Gujarat on January 2, 2007 has approved the basis of allocation of shares and allotted the shares to various successful applicants.

The physical refund warrants, intimation regarding refunds through electronic modes (ECS, RTGS, NEFT or Direct Credit) and allotment advice have been dispatched to the address of the investors as registered with the depositories on January 4, 2007.

The Equity Shares allocated to successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned on January 4, 2007.

The Listing Application has been filed with the Bombay Stock Exchange Limited and National Stock Exchange of India Limited on January 4, 2007. and the Company is taking steps to complete all formalities for listing and commencement of trading of Equity Shares on the Bombay Stock Exchange Limited and National Stock Exchange of India Limited within seven working days from the date ofAllotment.

INVESTORS PLEASE NOTE
This details of the allocation made would be hosted on the website of Registrars to the Issue, Intime Spectrum Registry Limited at www.intimespectrum.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:

Intime Spectrum Registry Limited
C-13, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West), Mumbai 400078,
Fax: +91-22-2596 0329 Tel. No.: (9122) 2596 0320 - 28
Email: ashtavinayak@intimespectrum.com and www.intimespectrum.com

Place : Mumbai
Date : January 4, 2007

For Shree Ashtavinayak Cine Vision Limited
Sd/- 
Ms. Archana Andhare
Company Secretary

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 SHREE ASHTAVINAYAK CINE VISION LIMITED

Ashtavinayak IPO Basis of Allotment FAQs

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

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

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