KN Agri IPO Basis of Allotment

	KN AGRI RESOURCES LIMITED
	(Formerly known as Itarsi Oils & Flours Private Limited)

Our Company was originally incorporated as "Itarsi Oils & Flours Private Limited" on January 30,1987 under the provisions of the Companies Act, 1956 with the Registrar of Companies, Madhya Pradesh, Gwalior. Pursuant to Special Resolution passed by the shareholders at the Extra Ordinary General Meeting held on October 04, 2021, the name of our Company was changed from "Itarsi Oils & Flours Private Limited" to "KN Agri Resources Private Limited" and a fresh certificate of incorporation was issued By the Registrar of Companies, Chhattisgarh vide letter dated October 26, 2021. Subsequently, pursuant to Special Resolution passed by the Shareholders at the Extra Ordinary General Meeting, held on November 07, 2021, our Company was converted Into a Public Limited Company and consequently the name of our Company was changed from "KN Agri Resources Private Limited" to "KN Agri Resources Limited" vide a fresh certificate of incorporation dated November 22, 2021 issued by the Registrar of Companies, Chhattisgarh. For further details please refer to chapter titled "History and Corporate Structure" beginning on page 127 of the Prospectus dated March 22, 2022 filed with Registrar of Companies (RoC).

OUR PROMOTERS: VIJAY SHRISHRIMAL, SANJAY SHRISHRIMAL, DHIRENDRA SHRISHRIMAL, K.N. RESOURCES PRIVATE LIMITED, ANANT TRAFINA PRIVATE LIMITED AND ANANT COUNTER TRADE PRIVATE LIMITED

INITIAL PUBLIC OFFER OF 65,84,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/- EACH (THE "EQUITY SHARES") OF KN AGRI RESOURCES LIMITED ("OUR COMPANY" OR "KNARL" OR "THE ISSUER") AT AN ISSUE PRICE OF Rs. 75 PER EQUITY SHARE FOR CASH, AGGREGATING TO Rs. 4938.00 LAKHS ("PUBLIC ISSUE") OUT OF WHICH 3,32,800 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH, AT AN ISSUE PRICE OF Rs. 75 PER EQUITY SHARE FOR CASH, AGGREGATING Rs. 249.60 LAKHS WERE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE PUBLIC ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 62,51,200 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH, AT AN ISSUE PRICE OF Rs. 75 PER EQUITY SHARE FOR CASH, AGGREGATING TO Rs. 4688.40 LAKHS IS HEREIN AFTER REFERREO TO AS THE "NET ISSUE". THE PUBLIC ISSUE AND NET ISSUE SHALL CONSTITUTE 26.34% AND 25.01% RESPECTIVELY OF THE POST- ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.

Risks to Investors:

*Weighted average cost of acquisition has been calculated by adjusting for split of equity shares.

** Nd represents that the value cannot be defined

The Issue was made through the Book Building Process, in terms of Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR") read with Regulation 253 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations") wherein not more than 50% of the Issue was made available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs") (the "QIB Portion"). Our Company in consultation with the book running lead managers ("BRLM") has allocated up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (the "Anchor Investor Portion"). Further, not less than 15% of the Issue was made available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Issue was made available for allocation to Rlls in accordance with the SEBI (ICDR) Regulations, 2018, subject to valid Bids having been received from them at or above the Issue Price. All potential Bidders (except Anchor Investors) were required to mandatorily utilise the Application Supported by Blocked Amount ("ASBA") process providing details of their respective bank account (including UPI ID for RIBs using UPI Mechanism), in which the corresponding Bid Amounts were blocked by the SCSBs or the Sponsor Bank, as applicable. Anchor Investors were not permitted to participate in the Issue through the ASBA process. For details, see "Issue Procedure" on page 264 of the Prospectus.

The bidding for Anchor Investors opened and closed on March 14, 2022. The Company received 3 Anchor Investors applications for 18,73,600 Equity Shares. The Anchor Investor Allocation price was finalized at Rs. 75 per Equity Share. A total of 18,73,600 Equity Shares were allotted under the Anchor Investor portion aggregating to Rs. 140,520,000.

The Issue (including Anchor Investors Portion) received 105,988 Applications for 918,004,800 Equity Shares (before technical rejections) resulting in 139.43 times subscription (including reserved portion of market maker and Anchor). The details of the Applications received in thelssue from various categories are as under (before technical rejections):

Detail of the Applications Received:

Final Demand:

A summary of the final demand as per NSE as on the Bid/Offer Closing Date at different Bid prices is as under:

The Basis of Allotment was finalised in consultation with the Designated Stock Exchange, being NSE on March 23, 2022.

1) Allotment to Retail Individual Investors (After Technical Rejections)

The Basis of Allotment to the Retail Individual Investors, who have Bid at cut-off Price or at or above the Issue Price of Rs. 75 per Equity Share, was finalized in consultation with NSE. The category has been subscribed to the extent of 74.51 times. The total number of Equity Shares Allotted in this category is 21,88,800 Equity Shares to 1368 successful applicants. The category-wise details of the Basis of Allotment are as under:

2) Allotment to Non-Institutional Investors (After Technical Rejections)

The Basis of Allotment to the Non-Institutional Investors, who have bid at the Issue Price of Rs. 75 per Equity Share or above, was finalized in consultation with NSE. The category has been subscribed to the extent of 758.22 times. The total number of Equity Shares Allotted in this category is 9,39,200 Equity Shares to 296 successful applicants. The category-wise details of the Basis of Allotment are as under (Sample basis):

3) Allotment to QIBs excluding Anchor Investors (After Technical Rejections)

Allotment to QIBs, who have bid at the Issue Price of Rs. 75 per Equity Share or above, has been done on a proportionate basis in consultation with NSE. This category has been subscribed to the extent of 26.21 times of QIB portion. The total number of Equity Shares allotted in the QIB category is 12,49,600 Equity Shares, which were allotted to 19 successful Applicants.

4) Allotment to Anchor Investors (After Technical Rejections)

The Company in consultation with the BRLM has allocated 18,73,600 Equity Shares to 3 Anchor Investors at the Anchor Investor Offer Price of Rs.75 per Equity Shares in accordance with the SEBI ICDR Regulations. This represents 60% of the QIB Category.

The Board of Directors of our Company at its meeting held on March 24, 2022 has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, being NSE and has allotted the Equity Shares to various successful applicants. The Allotment Advice Cum Refund Intimation will be dispatched to the address of the investors as registered with the depositories. Further, instructions to the SCSBs have been dispatched / mailed for unblocking of funds and transfer to the Public Issue Account on or before March 24, 2022. The Equity Shares allotted to the successful allottees shall be uploaded on March 24, 2022 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company is in the process of obtaining the listing and trading approval from NSE and the trading of the Equity Shares is expected to commence on March 28, 2022.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated March 22, 2022 filed with the Registrar of Companies, Chhattisgarh ("RoC").

The details of the allotment made has been hosted on the website of the Registrar to the Issue, Link In time India Private Limited at website: www.linkintime.co.in

Ail future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/Sole Bidder Serial number of tie ASBA form, number of Equity Shares bid for, Bidder DP ID, Client ID, PAN, date of submission of the Bid cum Application Form, address of the Bidder, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and copy of the Acknowledgment Slip received from the Designated Intermediary and payment details at the address given below:

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF KN AGRI RESOURCES LIMITED.

Disclaimer: KN Agri Resources Limited has filed the Prospectus with the RoC on March 22, 2022 and thereafter with SEBI and the Stock Exchanges. The Prospectus is available on the website of the BRLM, Hem Securities Limited at www.hemsecurities.com and the Company at www.knagri.com, and shall also be available on the website of the NSE and SEBI. Investors should note that investment in Equity Shares involves a high degree of risk and for details -elating to the same, please see "Risk Factors" beginning on page 29 of the Prospectus.

The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or any state securities laws in me United States, and unless so register, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Sec unties Act and in accordance with any applicable U.S state securities laws. The Equity Shares are being offered and sold outside the United States, in 'offshore transactions' in reliance on Regulation under the Securities Act and the applicable laws of each jurisdiction where such offers and sales are made. There will be no public offering in the Untied States.

"It is to be distinctly understood that the permission given by NSF should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to the Offer Document for the full text of the 'Disclaimer Clause of NSE".

"It is to be distinctly understood that the permission given by NSE to use their network and software of the Online IPO system should not in any way be deemed or construed that the compliance with various statutory and other requirements by KN Agri Resources Limited, BRLM, etc. are cleared or approved by NSE; nor does it in any manner warrant, certify or endorse the correctness or completeness of any of the compliance with the statutory and other requirements nor does it take any responsibility for the financial or other soundness of this Issue, its promoters, its management or any scheme or project of this Issuer."

"It is a so to be distinctly understood that the approval given by NSE should not in any way be deemed or construed that the prospectus has been cleared or approved by NSE; nor does it in any manner warrant, certify endorse the correctness or completeness of any of the contents of this prospectus; nor does it warrant that the securities will be listed or will continue to be listed on the Exchange;"