Lotus Eye Care IPO Basis of Allotment

LOTUS EYE CARE HOSPITAL LIMITED

[Originally incorporated as "Kalaivani Health Centre Pvt. Ltd." on 14/03/1997 under the Companies Act, 1956 vide Certificate of Incorporation issued by the Registrar of Companies, Tamil Nadu, Coimbatore. The name of the Company was changed to "Lotus Eye Care Hospital Pvt. Ltd." on 23/01/2006 and subsequently to "Lotus Eye Care Hospital Limited" upon conversion into Public Limited Company on 16/10/2007 and a fresh certificate of incorporation has been obtained from Registrar of Companies, Tamil Nadu, Coimbatore.]

Registered Office: S.F.No.770/12, Civil Aerodrome Post, Avinashi Road, Coimbatore - 641014, Tamil Nadu
Tel.: +91-0422-2626464, 2626565; Fax: +91-0422-2627193; E-mail:lotuseye@eth.net; Website: www.lotuseye.org
Contact Person: Mr. S.Raveendar, Company Secretary & Compliance Officer

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 1,00,00,000 EQUITY SHARES OF RS. 10/- EACH AT A PRICE OF RS. 38/- PER EQUITY SHARE (INCLUDING SHARE PREMIUM OF RS. 28/- PER EQUITY SHARE) FOR CASH AGGREGATING TO RS. 3800.00 LACS BY LOTUS EYE CARE HOSPITAL LIMITED (HEREINAFTER REFERRED TO AS THE "ISSUE"). THE ISSUE WILL CONSTITUTE 48.09 % OF THE FULLY DILUTED POST ISSUE PAID-UP EQUITY SHARE CAPITAL OF THE COMPANY.
ISSUE PRICE: RS. 38/- PER EQUITY SHARE OF FACE VALUE RS. 10 EACH
THE ISSUE PRICE IS 3.8 TIMES OF THE FACE VALUE

Thz e Issue was made through the 100% Book Building Process wherein upto.50% of the Issue shall Be allocated on a proportionate basis to Qualified Institutional Buyers (QIB's) (including 5% of the QIB portion to specially be allotted to Mutual Funds, if any). Further, at least 15% of the Issue was to be made available for allocation on a proportionate basis to Non-Institutional Bidders and at least 35% of the issue was to be made 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 received 4,762 valid applications for 1,02,18,600 Equity Shares resulting in 1.02 times subscription. The details of the applications received In the Issue from QIBs, Non-Institutional Investors, and Retail Individual Investors are as under:

A. Allocation to Retail individual Investors
The Basis of Allocation to the Retail Individual Investors, who have bid at Cutoff Price or at the Issue Price of Rs. 38/- per Equity Share, was finalized in consultation with the BSE. This category has been over-subscribed to the extent of 1.023 times The total number of Equity Shares allotted in this category is 35,00,000 Equity Shares. The category-wise details, of the Basis of Allocation are as under:

B. Allocation to Non Institutional Investors
The Basis of Allocation to the Non-Institutional Investors, who bid at the Issue Price of Rs. 38/- per Equity Share, was finalized In consultation with the BSE. This category has been oversubscribed to the extent of 1.066 times. The total number of Equity Shares allotted in this category is 15,00,000 Equity Shares. The category-wise details of the Basis of Allocation sample are as under:

C. Allotment to Qualified Institutional Buyers
This category was subscribed 0.627 times and the Company received 5 applications for 31,37,100 equity shares. The Category-wise details are as follows:

The Board of Directors of the Company at its Meeting held at Coimbatore on July 03, 2008 has approved the basis of allotment of shares of the Issue and has allotted the shares to various successful applicants.
The CAN-cum-Refund Orders and allotment advice and notices have been dispatched to the address of the investors as registered with the depositories on July 04, 2008. In case the same is not received within ten days, investors may contact at the address given below. The Equity Shares allocated to successful applicants have been 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 the Bombay Stock Exchange Limited (BSE, Designated Stock Exchange) and the National Stock Exchange of India Limited (NSE). The listing application has been filed with BSE and NSE on July 04, 2008.

All future correspondence in this regard may kindly be addressed to the Registrar 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:

S.K.D.C CONSULTANTS LIMITED
No.11, Seth Narayandas Layout, street No.1, West Power House Road,
Coimbatore - 641 012, Tamil Nadu
Tel.: (0422) 6549995; Fax: (0422) 2499574, E-mail: into@skdc-consultants.com
Website: www.skdc-consultants.com; Contact Person: Ms. Vijayalakshmi Narendra

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 LOTUS EYE CARE HOSPITAL LIMITED.
Note: All capitalized terms used hereinabove and not specifically defined shall have the respective meaning as assigned to them in the Prospectus.