Mahindra Holidays IPO Basis of Allotment

The Basis of Allocation was finalized in consultation with the Designated Stock Exchange, National Stock Exchange of India Limited ("NSE") on 7th July, 2009. The final demand at different bid prices and allocation of equity shares in the following categories is as under:

A. Allocation to Retail Individual Investors including ASBA Applicants (After Technical Refections)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs.300/- per Equity Share, was finalized in consultation with NSE. This category has been over-subscribed to the extent of 3.15 times. The total  number of equity shares allotted in this category is 2,779,583 equity shares to 44,397 successful applicants. The category-wise details of the Basis of Allocation are as under:

B. Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to the Non-Institutional Investors, who have bid at cut-off or at and above the Issue Price of Rs.300/- per Equity Share, was finalized in consultation with NSE. This category has been over-subscribed to the extent of 7.87 times. The total number of equity shares allotted in this category is 926,527 equity shares to 140 successful applicants. The category-wise details of the Basis of Allocation (sample) are as under:

C. Allocation to QIBs
Allocation to QIBs has been done on a proportionate basis in consultation with NSE, As per the SEBI (Disciosure and Investor Protection) Guidelines 2000, Mutual Funds were initially allotted 5% of the quantum of equity shares available 277,958 equity shares and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available equity shares 5,521,807 equity shares.

The IPO committee of the company at its Meeting held at Chennai on 8th July, 2009 has approved the basis of allocation of equity shares of the issue and has allotted the equity shares to various successful applicants.

Despatch of the CAN-cum-Refund Orders, allotment advice, intimation regarding refunds through electronic mode (ECS, RTGS, NEFT or Direct Credit) and notices (where applicable) have been dispatched to the address of the investors as registered with the depositories has been completed on 10th July, 2009. Instructions to ASBA banks to transfer funds related to equity shares allotted, if any, and unblock the remaining amount have been given on 9th July, 2009. 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 equity shares allocated io 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 tor trading on the National Stock Exchange of India Limited and Bombay Stock Exchange Limited within seven working days from the date of approval of the basis of allocation i.e.on or before 16th July, 2009

This details of the allocation made would be hosted on the website of Registrars to the Issue, Karvy Computershare Private Limited at 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 Bid-Cum-Application Form, number of equity 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:

Karvy Computershare Private Limited
Unit: MHRIL, Plot No. 17 to 24, Vitharao Nagar, Hitech City Road, Madhapur. Hyderabad -500081,
Fax: 040-23420814 Email: einward.ris@Karvy.com
TOLL FREE - HELPLINE NUMBER: 1-800-3454001

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 MAHINDRA HOLIDAYS & RESORTS INDIA LIMITED
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.