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June 9, 2008 - June 17, 2008

First Winner IPO Basis of Allotment

FIRST WINNER INDUSTRIES LIMITED

(Our Company was originally incorporated as Firstwinner Trading Company Private Limited on 22nd January, 2003 under the Companies Act, 1956. The name of our company was changed to First Winner Industries Private Limited with effect from 17th August, 2006. The name of our company was further changed to First Winner Industries Limited with effect from 18th August, 2006.)
Registered Office: 605, Business Classic, Chincholi Bunder Road, Malad (West), Mumbai - 400 064. (For changes in registered office of our Company, please refer to page number 10 of the Prospectus).
Tel. No.: +91 22 2880 2255/99; Fax No.:+91 22 2881 2288;
Website: www.firstwinnerind.com; E-mail: ipo@firstwinnerind.com
Contact Person: Mr. R. C. Sharma, Company Secretary & Compliance Officer

BASIS OF ALLOCATION

PUBLIC ISSUE OF 55,00,000 EQUITY SHARES OF RS.10/- EACH FOR CASH AT A PRICE OF RS. 125 PER EQUITY SHARE AGGREGATING TO RS. 6,875 LAKH (HEREINAFTER REFERRED TO AS 'THE ISSUE'), COMPRISING OF EMPLOYEE RESERVATION OF 1,00,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH AT A PRICE OF RS. 125 PER EQUITY SHARE FOR CASH AGGREGATING TO RS. 125 LAKH (HEREIN AFTER REFERRED TO AS THE 'EMPLOYEE RESERVATION PORTION'. THE NET ISSUE TO THE PUBLIC IS OF 54,00,000 EQUITY SHARES OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 125 PER EQUITY SHARE AGGREGATING TO RS. 6,750 LAKHS. THE ISSUE WOULD CONSTITUTE 31.02% 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. 125 AND IT IS 12.5 TIMES THE FACE VALUE.

This Issue was made through a 100% Book Building Process wherein not more than 50% of the Net Issue was made available for allocation on a proportionate basis to Qualified Institutional Buyers ('QIBs'). 5% of the QIB Portion was made available for allocation on a proportionate basis to Mutual Funds only. Further, not less than 15% of the Net Issue to Public was made available for allocation on a proportionate basis to Non Institutional Bidders and not less than 35% of the Net Issue was made available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price. Further upto 1,00,000 equity shares were made available for allocation on a proportionate basis to the employees, subject to valid Bids being received at or above the Issue Price.
The Issue received 4,389 applications for 62,99,350 equity shares resulting in 1.1453 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional Investors, Retail Individual Investor and Employee categories are as under: (Before technical rejections)

Category No. of Applications No. of Shares Subscription
Qualified Institutional Buyers 4 28,36,250 1.0505
Non Institutional Investors 18 12,48,150 1.8398
Retail Individual Investors 4356 21,07,200 1.3153
Employees 11 1,07,750 1.0850

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
115 1050 0.0151 6972000 100.0000
116 50 0.0007 6970950 99.9849
117 50 0.0007 6970900 99.9842
120 1850 0.0265 6970850 99.9835
121 50 0.0007 6969000 99.9570
123 100 0.0014 6968950 99.9563
125 1681300 24.1150 6968850 99.9548
126 100 0.0014 5287550 75.8398
127 50 0.0007 5287450 75.8384
128 150 0.0022 5287400 75.8376
130 2797250 40.1212 5287250 75.8355
CUT OFF 2490000 35.7143 2490000 35.7143

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited ('BSE') on June 27, 2008.

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. 125/- per Equity Share was finalized in consultation with BSE. The category was subscribed 1.077500 times. The total number of Equity Shares allotted in this category is 1,00,000 Equity Shares to 11 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
200 1 9.09 200 0.19 186 1:1 186
1000 1 9.09 1000 0.93 928 1:1 928
1500 1 9.09 1500 1.39 1392 1:1 1392
5050 1 9.09 5050 4.69 4687 1:1 4687
10000 3 27.27 30000 27.84 9281 1:1 27843
15000 2 18.18 30000 27.84 13921 1:1 27842
20000 2 18.18 40000 37.12 18561 1:1 37122

B. Allocation to Retail Individual Investors (After Technical Rejections)
The Basis of Allocation to Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs.125/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 1.105635 times. The total number of equity shares allotted in this category is 18,90,043* to 4191 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
50 1049 24.45 52450 2.51 50 19:21 47500
100 309 7.2 30900 1.48 90 1:1 27810
150 134 3.12 20100 0.96 136 1:1 18224
200 142 3.31 28400 1.36 181 1:1 25702
250 44 1.03 11000 0.53 226 1:1 9944
300 30 0.7 9000 0.43 271 1:1 8130
350 46 1.07 16100 0.77 317 1:1 14582
400 74 1.72 29600 1.42 362 1:1 26788
450 6 0.14 2700 0.13 407 1:1 2442
500 31 0.72 15500 0.74 452 1:1 14012
550 1 0.02 550 0.03 497 1:1 497
600 3 0.07 1800 0.09 543 1:1 1629
650 3 0.07 1950 0.09 588 1:1 1764
700 3 0.07 2100 0.1 633 1:1 1899
750 1290 30.07 967500 46.3 678 1:1 874620
800 1125 26.22 900000 43.07 724 1:1 814500

*As mentioned on the page no 10 of the Prospectus, an over-subscription to the extent of 10% of Net Issue to the Public can be retained for the purpose of rounding off to the nearer multiple of 1, while finalizing the Basis of Allotment. With this regard our company has issued 43 additional shares in the retail category due to rounding off. Therefore the number of Equity Shares allotted through the public issue will be 55,00,043.

C.Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to Non Institutional Investors, who have bid at the Issue Price of Rs. 125/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 1.540926 times. The total number of equity shares allotted in this category is 8,10,000 to 18 successful applicants. The category wise details of the Basis of Allocation 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
850 1 5.56 850 0.07 552 1:1 552
1000 2 11.11 2000 0.16 649 1:1 1298
2500 1 5.56 2500 0.20 1622 1:1 1622
5000 1 5.56 5000 0.40 3245 1:1 3245
5600 1 5.56 5600 0.45 3634 1:1 3634
7500 2 11.11 15000 1.20 4867 1:1 9734
8000 1 5.56 8000 0.64 5192 1:1 5192
11200 1 5.56 11200 0.90 7268 1:1 7268
12800 1 5.56 12800 1.03 8307 1:1 8307
16000 2 11.11 32000 2.56 10384 1:1 20768
23200 1 5.56 23200 1.86 15056 1:1 15056
40000 1 5.56 40000 3.20 25958 1:1 25958
250000 1 5.56 250000 20.03 162240 1:1 162240
400000 1 5.56 400000 32.05 259584 1:1 259584
440000 1 5.56 440000 35.25 285542 1:1 285542

D. Allocation to Qualified Institutional Buyers
Allocation to QIBs has been done on a proportionate basis in consultation with BSE. As per the SEBI guidelines, Mutual Funds were to be initially allotted 5% of the quantum of shares available (1,35,000), however there were no applications from Mutual Funds.

Category Fls/Banks MFs Flls VCs Total
No. of Shares - - 2700000 - 2700000

The Board of Directors of the company at its Meeting held at Mumbai on June 30, 2008 has approved the basis of allocation of shares of the Issue and has allotted the shares to various successful applicants.

The CAN/ Refund Orders and allotment advice have been dispatched to the address of the investors as registered with the depositories by July 1,2008. 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 Mandate details as registered, if any, with the depositories. The shares allocated to successful applicants have been uploaded on July 1, 2008 and have been credited to their beneficiary accounts subject to validation of the account details with the depositories concerned by CDSL on July 1, 2008 and by NSDL on July 2,2008. The listing applications have been filed with the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited on July 2,2008. Further, the Company 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 basis of allocation.

INVESTORS PLEASE NOTE
The details of the allocation 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, LBS Marg
Bhandup West, Mumbai - 400 078
Tel: +91 22 2596 0320 Fax: +91 22 2596 0329II
Email:firstwinner@intimespectrum.com

Place : Mumbai
Date  : July 4, 2008
For First Winner Industries Limited
Sd/-
Rinku Patodia
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 FIRST WINNER INDUSTRIES LIMITED

First Winner IPO Basis of Allotment FAQs

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

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

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