KEW Industries IPO Basis of Allotment

KEW INDUSTRIES LIMITED
(Our Company was Incorporated as KEW Industries Limited on September 23, 1996 under the Companies Act, 1956, at Jalandhar and received the certificate of commencement of buslness on January 02, 2006.)

Registered Office: B-3, Focal Point, Jalandhar 144 001 (Punjab). Tel: 91-181- 2455171; Fax: 91-181- 2225715;
Contact Person: Ms. Taranjeet Kaur, Compliance Officer and Company Secretary; E-mail: info@kewltd.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 70,00,000 EQUITY SHARES OF RS. 10/- EACH AT A PREMIUM OF RS.20/- PER SHARE ("EQUITY SHARES") OF KEW INDUSTRIES LIMITED (THE "COMPANY"), AGGREGATING TO RS. 2100 LACS (HEREINAFTER CALLED AS "ISSUE"). OF THE ABOVE, 27,50,000 EQUITY SHARES RESERVED FOR ALLOTMENT TO NRIs/FIIs AND 10,00,000 EQUITY SHARES TO MFs / BANKS / INDIAN FINANCIAL INSTITUTIONS ON COMPETITIVE BASIS. THE NET OFFER TO THE PUBLIC IS 32,50,000 EQUITY SHARES.
(Issue Price is 3.0 times the face value of equity shares of the Company)

The Board of Directors of Kew Industries Limited wish to thank the Investing public, for their response to the Issue which opened for subscription on 28th August, 2006 and closed on 1st September, 2006. The Issue received 11,854 applications for 1,76,20,060 Equity Shares resulting in 2.52 times subscription. The Basis of allotment was finalised in consultation with the Designated Stock Exchange Bombay Stock Exchange Limited ("BSE") on 15th September, 2006. The details of the Applications received in the Issue from NRIs/Flls, MFs/Banks/IFIs, Non-Institutional and Retail categories are as under:

Since the MFs/ Banks / Indian Financial Institutions and NRIs / Flls categories have not been subscribed / undersubscribed, the issuer in consultation with the lead managers has exercised the spill over option and added the unsubscribed portion of 21,83,040 equity shares to net offer to the public.

A) ALLOTMENT TO NRIs/ FIIs

The Basis of Allotment to NRIs / FIIs, was finalized in consultation with the BSE. The Company received 9 valid applications for 1566960 Equity Shares in this category resulting in 0.57 times subscription. Hence FULL and FIRM allotments have been made against all valid applications.
The number of shares allotted to NRIs / FIIs are 1566960.

B) ALLOTMENT TO RETAIL INDIVIDUAL INVESTORS
The Basis of Allotment to the Retail Individual Investors, was finalized in consultation with the BSE. The Company received 11646 valid applications for 14110850 Equity Shares in this category resulting in 2.93 times subscription. The number of shares allotted to 10029 Retail Individual applicants for 4820728 equity shares. A sample of category-wise allotment is ac under

C) ALLOTMENT TO NON-INSTITUTIONAL INVESTORS (individual who have applied for 3400 shares and above; Bodies Corporate/ Institutions)
The Basis of Allotment to the Non-Institutional Investors, was finalized in consultation with BSE. The Company received 57 valid applications for 1792310 Equity Shares in this category resulting in 2.93 times subscription. The number of shares allotted to 57 Non-Institutional Investors is 612312 equity shares. A sample of category-wise allotment is as under:

The Board of Directors of the company at its Meeting held at Plot No. 17-24, Vithalrao Nagar, Madhapur, Hyderabad -
500 081 on 16th September, 2006 at 10.30 A.M has approved the basis of allocation of shares of the Issue and has allotted the shares to various successful applicants.

The Refund Orders and /or allotment advice have been dispatched to the address of the investors as registered with the depositories on 19th September, 2006. 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 are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. The company is taking steps to get the equity shares admitted for trading on Bombay Stock Exchange Limited within seven working days from the date of approval of the basis of allocation.

INVESTORS PLEASE NOTE
This details of the allocation made would be hosted on the webstte of Registrars to the Issue,
Karvy Computershare Private Limited at www.karvy. com or http://karisma.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 application form, applied number of shares, and payment details at the address given below:

Karvy Computershare Private Limited, Unit: Kew Industries,
Karvy House, 46, Avenue 4, Street No.1, Banjara Hills, Hyderabad 500 034
Email: kew.ipo@karvy.com OR mailmanager@karvy.com

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