December 10, 2007 - December 13, 2007

Brigade IPO Basis of Allotment

'Not for release in the United States' This announcement has been prepared for publication in India and may not be released in the United States, Australia, Canada or Japan. This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the united states absent registration under the US securities Act of 1993 or an exemption from registration.'

BRIGADE ENTERPRISES LIMITED

(Our Company was originally a partnership firm called Brigade Enterprises under a partnership deed dated May 29, 1990 and its status was subsequently changed to a private limited company called 'Brigade Enterprises Private Limited' with effect from November 8, 1995. The status of our Company was changed to a public limited company by a special resolution of the members passed at the annual general meeting held on June 20, 2007. The fresh certificate of incorporation consequent to the change of name was granted to our Company on July 20, 2007, by the Registrar of Companies, Karnataka) Registered Office: 'Pent House', Brigade Towers, 135, Brigade Road, Bangalore 560 025, Karnataka, India Contact Person: Mr. A. Anil Kumar Tel: (91 80) 4137 9200, Fax: {91 80) 2221 0784, Email: investors@brigadegroup.com, www.brigadegroup.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 16,624,720 EQUITY SHARES OF RS. 10 EACH FOR CASH AT A PRICE OF RS, 390 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 380 PER EQUITY SHARE) AGGREGATING RS. 6,483.64 MILLION (THE 'ISSUE') BY BRIGADE ENTERPRISES LIMITED (THE 'COMPANY OR 'THE ISSUER'). THE ISSUE COMPRISED A NET ISSUE TO THE PUBLIC OF 16,524,720 SHARES OF RS. 10 EACH (THE 'NET ISSUE') AND A RESERVATION OF UP TO 100,000 EQUITY SHARES OF RS. 10 EACH FOR ELIGIBLE EMPLOYEES (THE 'EMPLOYEE RESERVATION PORTION') AND A GREEN SHOE OPTION OF UP TO 2,493,708 EQUITY SHARES FOR CASH AT A PRICE OF RS. 390 PER EQUITY SHARE AGGREGATING TO RS. 972.55 MILLION (THE 'GREEN SHOE OPTION'). THE ISSUE AND THE GREEN SHOE OPTION, AGGREGATE T0 19,118,428 EQUITY SHARES AMOUNTING TO RS. 7,456.19 MILLION. THE ISSUE WILL CONSTITUTE 16.87% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY. THE NET ISSUE WILL CONSTITUTE 16.78% OF THE FULLY DILUTED 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. 390/- AND IT IS 39.0 TIMES THE FACE VALUE. The equity shares of the company are proposed to be listed on the National Stock Exchange of India Limited ('NSE') and Bombay Stock Exchange Limited ('BSE').

The Issue made through the 100% Book Building Process wherein at least 60% of the Net Issue was to be allocated on a proportionate basis to Qualified Institutional Buyers ('QIBs') (including 5% of the QIB portion that was to specifically be allotted to mutual funds), further, not less than 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 Bidders, subject to valid bids being received at or above the Issue Price.

The Issue received 1,72,463 applications for 20,69,07,863 equity shares resulting in 10.8224 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional, Retail Individual Investor and Employee categories are as under: (Before technical rejections)

Category	No. of Applications	No. of Shares	Subscription
Qualified Institutional Buyers	96	17,7376,944	15.5443
Non Institutional Investors	352	36,06,504	1.8963
Retail Individual Investors	1,71,863	2,57,84,930	4.5193
Employees	152	1,39,485	1.3949

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}
351	27020560	12.44	217216704	100.00
352	592	0.00	190196144	87.56
353	160	0.00	190195552	87.56
354	16	0.00	190195392	87.56
355	1728	0.00	190195376	87.56
356	32	0.00	190193648	87.56
357	208	0.00	190193616	87.56
358	128	0.00	190193408	87.56
360	207984	0.10	190193280	87.56
361	192	0.00	189985296	87.46
362	48	0.00	189985104	87.46
363	32	0.00	189985056	87.46
365	2272	0.00	189985024	87.46
366	80	0.00	189982752	87.46
367	1664	0.00	189982672	87.46
368	208	0.00	189981008	87.46
369	80	0.00	189980800	87.46
370	57824	0.03	189980720	87.46
371	2832	0.00	189922896	87.43
372	16	0.00	189920064	87.43
373	32	0.00	189920048	87.43
375	1902032	0.88	189920016	87.43
376	80	0.00	188017984	86.56
377	0	0.00	188017904	86.56
378	16	0.00	188017904	86.56
380	9632	0.00	188017888	86.56
382	16	0.00	188008256	86.55
383	96	0.00	188008240	86.55
385	2128	0.00	188008144	86.55
386	336	0.00	188006016	86.55
387	256	0.00	188005680	86.55
388	32	0.00	188005424	86.55
389	16	0.00	188005392	86.55
Rs.390 /- & Cut _{Off Price}	188005376	86.55	188005376	86.55
	217216704	100.00

The Basis of Allocation was finalized in consultation with the National Stock Exchange of India Limited ('NSE') on December 22, 2007.

The final demand at different bid prices and allocation of shares In following 3 categories is as under:

A. Allocation to Employees (After Technical Rejections)

The Basis of Allocation to the Employees, who have bid at cut-off or at the Issue Price of Rs.390/- per Equity Share, was finalized in consultation with NSE. The category was over subscribed 1.39472 times. The total number of equity shares allotted in this category is 1,00,000 Equity Shares to 152 successful applicants. The category-wise details of the Basis of Allocation (Sample) 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
16	1	0.66	16	0.01	16	FIRM	16
32	3	1.97	96	0.07	23	FIRM	69
48	11	7.24	528	0.38	34	FIRM	374
320	2	1.32	640	0.46	230	FIRM	460
1008	2	1.32	2016	1.45	723	FIRM	1446
1408	1	0.66	1408	1.01	1010	FIRM	1010
1536	2	1.32	3072	2.20	1102	FIRM	2204
1888	1	0.66	1888	1.35	1354	FIRM	1354
2000	1	0.66	2000	1.43	1434	FIRM	1434
2400	1	0.66	2400	1.72	1721	FIRM	1721
2672	1	0.66	2672	1.92	1916	FIRM	1916
2800	1	0.66	2800	2.01	2008	FIRM	2008
3968	1	0.66	3968	2.85	2845	FIRM	2845
6896	1	0.66	6896	4.94	4944	FIRM	4944
6928	1	0.66	6928	4.97	4967	FIRM	4967
8640	1	0.66	8640	6.19	6195	FIRM	6195
11808	1	0.66	11808	8.47	8466	FIRM	8466
14480	1	0.66	14480	10.38	10372	FIRM	10372

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

The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs.390/- per Equity Share, was finalized in consultation with NSE. The category was over subscribed 4.456756 times. The total number of equity shares allotted in this category is 57,05,528 Equity Shares to 1,42,669 successful applicants. The category-wise details of the Basis of Allocation 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
16	20342	12.05	325472	1.28	16	1:04	81376
32	13933	8.25	445856	1.75	16	1:02	111472
48	10085	5.97	484080	1.90	16	9:13	111712
64	7936	4.70	507904	2.00	16	8:09	112864
80	8079	4.78	646320	2.54	18	FIRM	145422
96	5247	3.11	503712	1.98	22	FIRM	115434
112	4762	2.82	533344	2.10	25	FIRM	119050
128	16198	9.59	2073344	8.15	29	FIRM	469742
144	3348	1.98	482112	1.90	32	FIRM	107136
160	4799	2.84	767840	3.02	36	FIRM	172764
176	1065	0.63	187440	0.74	40	FIRM	42600
192	1455	0.86	279360	1.10	43	FIRM	62565
208	1065	0.63	221520	0.87	47	FIRM	50055
224	1115	0.66	249760	0.98	50	FIRM	55750
ADDITIONAL					1	1:23	48
240	3647	2.16	875280	3.44	54	FIRM	196938
256	65800	38.96	16844800	66.24	57	FIRM	3750600

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

The Basis of Allocation to the Non institutional Investors, who have bid at the Issue Price of Rs.390 per Equity Share, was finalized in consultation with NSE. The category was subscribed 1.866409 times. The total number of equity shares allotted in this category is 19,01,843 Equity Shares to 259 successful applicants. The category-wise details of the Basis of Allocation (Sample) 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
272	41	15.83	11152	0.31	146	FIRM	5986
1008	6	2.32	6048	0.17	540	FIRM	3240
1600	2	0.77	3200	0.09	858	FIRM	1716
4000	2	0.77	8000	0.23	2143	FIRM	4286
8800	1	0.39	8800	0.25	4715	FIRM	4715
10000	1	0.39	10000	0.28	5358	FIRM	5358
20000	1	0.39	20000	0.56	10716	FIRM	10716
30400	1	0.39	30400	0.86	16288	FIRM	16288
50000	2	0.77	100000	2.82	26790	FIRM	53580
79472	1	0.39	79472	2.24	42580	FIRM	42580
89744	1	0.39	89744	2.53	48084	FIRM	48084
100000	1	0.39	100000	2.82	53579	FIRM	53579
102400	1	0.39	102400	2.88	54865	FIRM	54865
124400	1	0.39	124400	3.50	66652	FIRM	66652
160272	1	0.39	160272	4.52	85872	FIRM	85872
256400	2	0.77	512800	14.45	137376	FIRM	274752
384608	1	0.39	384608	10.84	206068	FIRM	206068
512816	1	0.39	512816	14.45	274746	FIRM	274746

D. Allocation to QIBs

Allocation to QIBs has been done on a proportionate basis in consultation with NSE. As per the SEBI (Disclosure and Investor Protection) Guidelines, 2000, Mutual Funds were initially allotted 5% of the quantum of shares available (5,70,553) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (1,08,40,504) on proportionate basis.

Category	Fts/Banks	MFs	Flls	VCs	ICs	Total
No. of Shares	23,76,500	23,72,619	62,20,727	84,330	3,56,881	1,14,11,057

The IPO Committee of the company at its Meeting held at Hyderabad on December 24, 2007 has approved the basis of allocation of equity shares of the Issue and has allotted the equity shares to various successful applicants.

The CAN-cum-Refund Orders, allotment advice, intimation regarding refunds through electronic mode (ECS, RTGS, NEFT or Direct Credit) and notices (where applicable) have been dispatched to the address of the investors as registered with the depositories by December 26, 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 by December 26, 2007. The Company has filed the listing application with NSE & BSE and the Equity Shares of the Company shall be listed and admitted for dealings on both the exchanges w.e.f. December 31, 2007.

INVESTORS PLEASE NOTE

These details of the allocation made would be hosted on the website of Registrars to the Issue, Karvy Computershare Private Limited at http://kcpl.karvy.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 equity 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:

Karvy Computershare Private Limited
_{Unit: BRIGADE}
^{_{Plot No. 17 to 24, Vitharao Nagar, Hitech City Road, Madhapur}}
_{Hyderabad - 500081, Fax: 040-23420814}
Email: einward.ris@Karvy.com

TOLL FREE - HELPLINE NUMBER: 1-800-3454001

Place: Bangalore Date : December 28, 2007	_{For Brigade Enterprises Limited _Sd/- _{A. Anil Kumar} _{Company Secretary and Compliance Officer}}

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 BRIGADE ENTERPRISES LIMITED.

Brigade IPO Basis of Allotment FAQs

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

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

Visit the Brigade IPO allotment status page to check the number of shares allocated to your application.

Brigade IPO Basis of Allotment

Brigade IPO Basis of Allotment FAQs

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