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February 5, 2009 - February 9, 2009

Edserv Softsystems IPO Basis of Allotment

EDSERV SOFTSYSTEMS LIMITED
Incorporated as a Private Limited Company on March 13,2001 under the Companies Act, 1956 as M/s. Lambent Systems Private Limited vide Certificate of Incorporation issued by the Ragistrar of Companies, Chennai. The name of the company was changed to M/s. Lambent Systems private limited with effect from December 05,2001 and a fresh certificate of Incorporation was obtained from Registrar of Companies, Chennai. Subsequently the name was changed to M/s. Edserv Soft systems Private Limited and a fresh certificate of incorporation consequent to change of name was obtained on january 09,2008. The name was further changed to M/s. Edserv SoftSystems Limited upon conversion into public limited company and a fresh certificate of incorporation was obtained on April22,2008.
Registered Office:
1st Floor, Parma Plaza, New No. 139, Arcot Road, Kodamoakkam, Chennai 600 024
Tel.: 9
1-044- 64537216 Fax: 91- 044 - 23724088; e-mail:Info@edserv.in Website: www.edserv.in
Contact Person:
Mr. V. Ramaseshan, Company Secretary &Compliance Officer

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 39,73908 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH ('EQUITY SHARES') FOR CASH AT A PRICE OF RS. 60/- PER EQUITY SHARE (INCLUDING A PREMIUM OF RS. 50/- PER EQUITY SHARE) AGGREGATING Rs. 2384.34 LACS ('THE ISSUE') OUT OF WHICH 2,00,000 EQUITY SHARES HAVE BEEN RESERVED FOR ELIGIBLE EMPLOYEES ('EMPLOYEE RESERVATION PORTION'). THE NET ISSUE TO THE PUBLIC SHALL BE 37,73,908 EQUITY SHARES FOR CASH AT A PRICE OF RS. 60/- PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS. 50/-PER EQUITY SHARES('THE NET ISSUE') THE ISSUE WOULD CONSTITUTE 33.10 % OF THE POST ISSUE PAID UP CAPITAL OF THE COMPANY AND THE NET ISSUE WOULD CONSTITUTE 31.43% OF THE POST ISSUE PAID-UP CAPITAL OF THE COMPANY.

ISSUE PRICE: RS. 60/- PER EQUITY SHARE OF THE FACE VALUE OF RS. 10/- EACH
THE ISSUE PRICE IS 6.0 TIMES OF THE FACE VALUE

This Issue was made through a 100% Book Building Process wherein at least 50% of the Net Issue will be allocated to Qualified Institutional Buyers (QIBs) on a proportionate basis, subject to valid bids being received at or above the Issue Price. Out of the portion available for allocation to the QIBs, 5% will be available for allocation to mutual funds only. Mutual Fund Bidders shall also be eligible for proportionate allocation under the balance available for the QIBs. Further, atleast 15% of the Net Issue shall be available for allocation on a proportionate basis to Non Institutional Bidders and upto 35% 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.
The issue opened for subscription on February 05,2009 and closed on February 09, 2009. The Issue receive 2,113 applications for 47,97,900 Equity shares resulting in 1.20 times subscription.
The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional investors, Retail Individual Investors and Employee categories are as under (Before technical rejections)

Category No. of Application No. of shares Subscription(No. of times)
Employees 4 7,800 0.04
Qualified Institutional Buyers 2 20,33,300 1.07
Non Institutional Investors 44 14,57,600 2.57
Retail Individual Investors 2063 12,99,200 0.98

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

Bid Price No. of Equity Shares % of Total Cumulative Total % of  Cumulative total
55 20600 0.397 20600 0.397
56 17600 0.340 38200 0.737
57 700 0.014 38900 0751
58 500 0.010 39400 0.761
60 3836000 74.008 3875400 74.769
CutOff 1307800 25.232 5183200 100.00

Note: the above analysis is based on electronic bids.
The Basis of Allotment was finalized in consultation with The Bombay Stock Exchange Limited ('BSE') on February 19,2009. Details of valid applications received and allotments done are as under:

A) Allocation to Employees (After Technical Rejections)
The Basis of Allocation to the Employees In the Firm Allotment category, who bid at cut-off price or at the Issue Price at Rs. 60 per Equity Share, was finalized In consultation with the BSE. The Company received 4 valid applications for 7,800 Equity Shares as against a Firm allotment portion of 2,00,000 Equity Shares resulting in 0.04 times of subscription. The unsubscribed shares of Employees Reservation portion, i.e. 1,92,200 shares was equally distributed amongst the Qualified Institutional Buyers & Non Institutional Investors category. The category-wise details of the Basis of Allotment of Employees are as under:

Category No. of Applications % to Total Total No. of Shares Applied %to Total No. of Shares Applied Ratio Total No. of Shares Allocated
200 2 50.00 400 5.13 400 FIRM 400
1000 1 25.00 1000 12.82 1000 FIRM 1000
6400 1 25.00 6400 82.05 6400 FIRM 6400

B)Allocation to Retail Individual Investors (After Technical Rejections)
The Basis ol Allocation to the Retail Individual nvestors, who have bid at cut-off or at the Issue price of Rs.60 per Equity Share, was finalized In consultation with BSE.The category was subscribed to the extent of 0.98 times. The total number of shares allotted in this category is 12,90,200 Equity Shares to 2043 successful applicants. The unsubscribed shares of Retail Individual Investors, i.e. 30,668 shares was added to Non Institutional Irrvestors category. The category wise details of the Basis of Allocation are as under:

Category No. Of
Application
% to
Total
Total no of
shares applied
% to
Total
No. Of
Shares Allocated
Ratio Total No. of
Shares Allocated
100 1005 49.19 100500 7.79 100 FIRM 100500
200 163 7.98 32600 2.53 200 FIRM 32600
300 28 1.37 8400 0.65 300 FIRM 8400
400 89 4.36 35600 2.76 400 FIRM 35600
500 29 1.42 14500 1.12 500 FIRM 14500
600 8 0.39 4600 0.37 600 FIRM 4800
700 4 0.20 2800 0.22 700 FIRM 2800
800 27 1.32 21600 1.67 800 FIRM 21600
900 4 0.20 3600 0.28 900 FIRM 3600
1000 48 2.35 48000 3.72 1000 FIRM 48000
1100 1 0.05 1100 0.09 1100 FIRM 1100
1200 1 0.05 1200 0.09 1200 FIRM 1200
1300 5 0.24 6500 0.50 1300 FIRM 6500
1400 1 0.05 1400 0.11 1400 FIRM 1400
1500 4 0.20 6000 0.47 1500 FIRM 6000
1600 826 30.64 1001600 77.63 1600 FIRM 1001600

C) Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to this category, who bid at the issue price of Rs. 60 per equity share, was finalized in consultaion with BSE. The category was subscribed to the extent of 1.87 times. The total number of shares alloted in this category is 6,92,854 Equity Shares to 39 successful applicants. The category wise details of the Basis of Allocation are as under:

Category No. of
Application
% to
Total
Total no. of
shares applied
% to
Total
No. of
Shares Allocated
Ratio Total No. of
Shares Allocated
2400 1 2.56 2400 0.18 1279 FIRM 1279
2600 1 2.56 2600 0.20 1386 FIRM 1386
3200 5 12.82 16000 1.23 1706 FIRM 8530
3300 1 2.56 3300 0.25 1759 FIRM 1759
5000 2 5.13 10000 0.77 2666 FIRM 5332
6500 1 2.56 6500 0.50 3465 FIRM 3465
6600 1 2.56 6600 0.51 3518 FIRM 3518
7000 1 2.56 7000 0.54 3732 FIRM 3732
7500 1 2.56 7500 0.58 3998 FIRM 3998
8000 1 2.56 8000 0.62 4265 FIRM 4265
8300 6 15.38 49800 3.83 4425 FIRM 26550
10000 2 5.13 20000 1.54 5331 FIRM 10662
16600 1 2.56 16600 1.28 8849 FIRM 8849
16700 1 2.56 16700 1.28 8903 FIRM 8903
18000 1 2.56 18000 1.38 9596 FIRM 9596
20000 1 2.56 20000 1.54 10662 FIRM 10662
25000 2 5.13 50000 3.85 13327 FIRM 26654
40000 1 2.56 40000 3.08 21324 FIRM 21324
42000 1 2.56 42000 3.23 22390 FIRM 22390
60000 1 2.56 60000 4.62 31985 FIRM 31985
80000 2 5.13 160000 12.31 42647 FIRM 85294
83300 1 2.56 83300 6.41 44406 FIRM 44406
160000 1 2.56 160000 12.31 85294 FIRM 85294
163400 2 5.13 326800 25.14 87105 FIRM 174210
166600 1 2.56 166600 12.82 88811 FIRM 86811

D)Allocation to QIBs
Allocation to QIBs has been done on a proportionate basis in consultion with BSE after addition of unsubscribed portion of 96,100 equity shares of  Employee Category. As per the SEBI guidelines, Mutual Funds were to be initally allottes 5% of the quantum of shares available i.e.99,153, however these were no applications from mutual funds.

Category (Fll) No. of Applications % to Total Total No. of Shares Applied % to Total No. of Shares Allocated Ratio Total No. of Shares Allocated
833300 1 50.00 833300 40.98 812708 FIRM 812708
1200000 1 50.00 1200000 59.02 1170349 FIRM 1170349

The Board of Directors of the company an it's meeting held at Chennai on February 19,2009 has approved the basis of allocation of shares and has alloted the shares to various successful applicants.

The Refund Orders and ECS/RTGS/NEFT/Direct Credit Intimation has been dispatched on February 24,2009 to the same address of the investors as registered with the depositories. In case the same not received within ten  days,investors may contact the Registrar to the issue, at the address given below.The company has filled the listing application wtth the Bombay Stock Exchange Limited on February 20,2009 and The National Stock Exchange of India Limited on February 24,2009. The Refund Orders have been over-printed with the Bank Mandate details as registered, it any, with the depositories. The shares allocated to the successful applicants have being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. The compariy is taking steps to get the equity shares admitted for trading on the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited within seven working days from the date of approval of the basts of allocation.

INVESTORS PLEASE NOTE

This details of the allocation made would be hosted on the website of Registrars to the Issue, Karvy Computershare Private Limited at www.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 shares bid for, name of the Member of the Syndicate and Place where the bid was submitted and payment details at the address gjven below:

KARVY COMPUTERSHARE PRIVATE LTD.
Uni: EdServ Softsystems Limited, 'Karvy House', 46, Avenue 4, Street No. 1,
Banjara Hills, Hyderabad-500 034. Tel: +9140-2331 2454, Fax: +91-40-23311968,
E-mail: edserv.ipo@karvy.com

Place : Chennai
Date : February 26,2009

For EDSERV SOFTSYSTEMS LIMITED
For and on behalf of the Board of Directors
sd/-
Chairman & CEO

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 EDSERV SOFTSYSTEMS LIMITED

Edserv Softsystems IPO Basis of Allotment FAQs

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

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

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