LT Overseas IPO Basis of Allotment

L .T Overseas Ltd.

(Originally Incorporated as LTOverseas Private Limited on 16th October 1990  with registered office at532/4, Naya Bazaar, Delhi, our Company was converted into a  Public limited Company on 03rd May 1894. The Registered office was shifted from 533/4,Naya Bazaar, Delhi to107,1st floor, Indra Prakash Building, Barakhamba Road, New Delhi, with effect from 10th October 1992. The registered Office was further shifted from 107, 1st floor, Indra Prakash Building,
Barakhamba Road, New Delhi to its current address on 01st April 1996.)

Registered Office:A-21, Green Park, Main Aurobindo Marg, New Delhi-110 016
Tel no:91-11-2685 9244; Fax No: 91-11-2685-9344; Email: Ipo@itoverseas.com; Website: www.Itoverseas.com;
Contact Person:Ms.Monika Chawla Jaggla, Company Secretary and Compliance Officer

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 70,36,714 EQUITY SHARES OF RS. 10/- EACH ISSUED FOR CASH AT A PREMIUM OF RS.46/- PER EQUITY SHARE AND AT A PRICE OF RS. 56/- PER EQURY SHARE AGGREGATING TO RS.394.00 MLLION (HEREINAFTER REFERRED TO AS 'THE ISSUE') INCLUDING EMPLOYEES RESERVATION OF 3,90,000 EQUITY SHARES OF FACE VALUE RS.10/- EACH AT A PRICE OF RS. 56/- FOR CASH AGGREGATING RS. 21.84 MILLION AND NET ISSUE TO THE PUBLIC OF 66,45,714 EQUITY SHARES OF FACE VALUE OF RS10/-EACH AT A PREMUM OF RS. 46/- PER EQUITY SHARE AND AT A PRICE OF RS.56/- PER EQUITY SHARE FOR CASH  AGGREGATING Rs.372.16 MILLION (HERE IN AFTER REFERRED TO AS THE'NET ISSUE TO THE PUBLIC'). THE NET ISSUE TO THE PUBLIC WOULD CONSTITUTE 29.84% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY
THE FACE VALUE PER EQUITY SHARE IS RS.10/- AND THE ISSUE PRICE IS 8.8 TIMES OF THE FACE VALUE.
The issue made through the 100% Book Building Process wherein not more than 50% of the Issue to the public was to be allocated on a proportionate basis to Qualified Institutional Buyers ('QIBs') (including 5% of the QIB portion that was to specifically be allotted to mutual funds). Further, not less than 15% of the Net Issue to the public shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue to the public shall be available for allocation on a proportionate basis to Retail Bidders, subject to valid bids being received at or above the Issue Price.
The Issue received gross 27,609 applications for 48,814,880 equity shares resulting In 6.94 times subscription.
The Basis of Allotment for all the categories namely Employees, Retail Individual Investors, Non Institutional Investors and Qualified Institutional Buyers was approved by Bombay Stock Exchange Limited (Designated Stock Exchange) on December 11, 2006. The Board of Directors of the Company at its Meeting held at the Registered Office of the company at A-21, Green Park, Main Aurobindo Marg, New Delhi on December 12, 2008 allotted the Equity Shares to the successful applicants. Details of valid applications received are as under.

Public Issue

Final Demand
The final demand at different bid prices is as under:

A. Allotment to Employees (After Technical Rejections)
All the bidders in the Employees category, who have bid' at cut-oft or at the Issue Price of Rs.56/- per Equity Share, have been considered while preparing the basis of allotment. The category was subscribed 1.10 times. The total number of shares allotted in this category Is 3;90,000 Equity Shares.
All the applicants in this category have been given firm allotment on proportionate basis inverse to the over subscription ratio.

B. Allotment to Retail Investors (After Technical Rejections)
All the bidders in the Retail Investors, who have bid at cut-pff'or at^, the Issue Price of Rs.56/- per Equity Share, have been considered while preparing the basis of allotment. The category was over subscribed 7.26 times. The total number of shares allotted in this category is 23,26,829 Equity Shares. The category-wise detak of the Basis of allotment are as under

From category 1000 to 1750 the retail investors have been given firm allotment on a proportionate basis Inverse to the over subscription ratio.

C. Allotment to Non Institutional Investors (After Technical Rejections)
All the bidders in the Non Institutional Category, who have bid at the Issue Price of Rs.56/- per Equity Share, have been considered while preparing the basis of allotment. The category was subscribed 3.31 times. The total number of shares allotted in this category Is 9,96,857 Equity Shares. All the applicants In this category have been given Firm Allotment on a proportionate basis Inverse to the oversubscription ratio.

D. Allotment to QIBs
The total number of Equity Shares allotted in this category are 3,322,857 Equity Shares (50% of total Equity Shares allotted). This category was oversubscribed by 8.36 times. All the applicants in this category have been given Firm Allotment on a proportionate basis. Out of 3322867 Equity Shares offered to QIBs as per the terms of the issue, 166143 Equity Shares (I.e 5% of 3322857 Equity Shares) has been allotted proportionately to mutual funds. Mutual funds applicants have also been considered eligible for proportionate allotment for the balance Equity shares in 018e category i.e 3156714 Equity shares.

Refunds have been made through ECS, Direct credit, RTGS and NEFT, Into the Bank Accounts of the applicants, as registered with the depositories, for applicants residing at any of the 15 centres specified by SERI. For other applicants Refund Orders have been despatched to their address as registered with the depositories. In case the same is not received within ten days, applicants may contact at the address given below. ECS Intimation Note and Refund Orders have been over-printed with the Bank Mandate details as registered, if any, with the depositories. The Equity Shares allotted to successful applicants have been credited to their beneficiary accounts.

The company Is taking steps to get the equity shares admitted for trading on Bombay Stock Exchange Limited and National Stock Exchange of India Limited within seven working days from the date of approval of the basis of allotment.

INVESTORS PLEASE NOTE
This details of the allotment made would be hosted on the website of Registrars to the Issue, Bigshare Services Private Limited at www.bigshareonline.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:

Bigshare Services Private Limited
E-2/3, Ansa Industrial Estate, Saki Vihar Road, Saki Naka,
Andheri (East), Mumbai - 400 072.
Tel: 9122 2847 0652/0653, Fax: 9122 2847 5207
Webelts: www.bigsharsonline.com, Email: Ipo@bigshare.com
Contact Person: Mr. N.V.K Mohan

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 L T OVERSEAS LIMITED.