November 1, 2007 - November 7, 2007

Mundra Port IPO Basis of Allotment

MUNDRA PORT AND SPECIAL ECONOMIC ZONE LIMITED

(Our Company was incorporated as Gujarat Adani Port Limited under the Companies Act, 1956 on May 26, 1998. The name of our Company was changed to Mundra Port and Special Economic Zone Limited on July 7, 2006.)
Registered and Corporate Office: Adani House, Near Mithakhali Six Roads, Navrangpura, Ahmedabad 380 009. Company Secretary and Compliance Officer: Mrs. Dipti Shah. Tel: (91 79) 2666 5555,
Fax: (91 79) 2656 5500, Email: dshah@adanigroup.com, Website: www.portofmundra.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 40,250,000 EQUITY SHARES OF RS. 10 EACH ('EQUITY SHARES') OF MUNDRA PORT AND SPECIAL ECONOMIC ZONE LIMITED ('MPSEZ', OR THE 'COMPANY', OR THE 'ISSUER') FOR CASH AT A PRICE OF RS. 440 PER EQUITY SHARE, AGGREGATING RS. 17,710 MILLION, REFERRED TO HEREIN AS THE 'ISSUE'. THE ISSUE COMPRISES A NET ISSUE OF 40,100,000 EQUITY SHARES TO THE PUBLIC AND A RESERVATION OF 150,000 EQUITY SHARES FOR ELIGIBLE EMPLOYEES (THE 'EMPLOYEE RESERVATION PORTION'). THE ISSUE AND NET ISSUE WILL CONSTITUTE 10.05% AND 10.01% RESPECTIVELY OF THE FULLY DILUTED POST-ISSUE EQUITY SHARE CAPITAL OF THE COMPANY.
THE FACE VALUE OF EQUITY SHARE IS RS. 10/- EACH. THE ISSUE PRICE OF RS 440/- EACH IS 44 TIMES OF THE FACE VALUE

The Global Coordinators and Book Running Lead Managers are DSP Merrill Lynch Limited, JM Financial Consultants Private
Limited, and SSKI Corporate Finance Private Limited and Book Running Lead Managers are ENAM Securities Private
Limited, SBI Capital Markets Limited, ICICI Securities Limited and Kotak Mahindra Capital Company Limited. The Equity shares of the Company are proposed to be listed on The Bombay Stock Exchange Limited ('BSE') and the National Stock Exchange of India Limited ('NSE') and trading is expected to start on or around November 27,2007. In terms of Rule 19(2)(b) of the SCRR, this being an Issue for less than 25% of the post-Issue capital, the Issue is being made through the 100% Book Building Process wherein at least 60% of the Net Issue shall be allocated on a proportionate basis to QIB Bidders, out of which 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above Issue price. If at least 60% of the Net Issue cannot be allocated to QIB Bidders, then the entire application money will be refunded forthwith. Further, not less than 10% of the Net Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 30% of the Net Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price. Further, up to 150,000 Equity Shares shall be available for allocation on a proportionate basis to the Employees, subject to valid Bids being received at or above the Issue Price. In addition, in accordance with Rule 19(2)(b) of the SCRR, a minimum of 2,000,000 Equity Shares are being offered to the public and the size of the Net Issue shall aggregate to at least Rs. 100.00 crores. The Company has not opted for grading of the Issue. The issue received 1,145,446 applications for 4,64,16,57,435 Equity Shares resulting in 115.3207 times subscription. The details of the applications received in the Issue from QIBs, Non Institutional Bidders, Retail Individual Bidders and Eligible Employees (Before technical rejections) are as under:

Category	No. of Applications	No. of Shares	Subscription (No. of times)
Retail Individual Bidders	1138303	190974495	15.8749
Non Institutional Bidders	6230	617347545	153.9520
QIBs	614	3832982790	159.3093
Eligible Employees	299	352605	2.3507

Final Demand
A summary of the final demand at various price levels as per the electronic book is given below:

Bid Price	No. of Applications	No. of Shares	% to Total	Cumulative -no. of Shares	Cumulative % to Total
400	1649	23964570	0.5084	4713904875	100.0000
401	25	1935	0.0000	4689940305	99.4916
402	12	735	0.0000	4689938370	99.4916
403	6	450	0.0000	4689937635	99.4916
404	7	435	0.0000	4689937185	99.4916
405	33	2580	0.0001	4689936750	99.4915
406	5	780	0.0000	4689934170	99.4915
407	3	105	0.0000	4689933390	99.4915
408	7	705	0.0000	4689933285	99.4915
409	3	450	0.0000	4689932580	99.4915
410	249	374220	0.0079	4689932130	99.4914
411	7	1140	0.0000	4689557910	99.4835
412	85	20175	0.0004	4689556770	99.4835
413	14	3120	0.0001	4689536595	99.4831
414	4	360	0.0000	4689533475	99.4830
415	164	39300	0.0008	4689533115	99.4830
416	300	83460	0.0018	4689493815	99.4821
417	8	840	0.0000	4689410355	99.4804
418	4	390	0.0000	4689409515	99.4804
419	2	135	0.0000	4689409125	99.4804
420	949	21387855	0.4537	4669408990	99.4803
421	19	4773555	0.1013	4668021135	99.0266
422	5	480	0.0000	4663247580	98.9254
423	8	900	0.0000	4663247100	98.9254
424	4	690	0.0000	4663246200	98.9253
425	237	307170	0.0065	4663245510	98.9253
426	3	285	0.0000	4662938340	98.9188
427	7	570	0.0000	4662938055	98.9188
428	6	6240	0.0001	4662937485	98.9188
429	4	510	0.0000	4662931245	98.9187
430	383	3044535	0.0646	4662930735	98.9186
431	8	182370	0.0039	4659886200	98.8541
432	14	1335	0.0000	4659703630	98.8502
433	3	345	0.0000	4659702495	98.8502
435	155	7336590	0.1556	4659702150	98.8502
436	15	1710	0.0000	4652365560	98.6945
437	3	4845	0.0001	4652363850	98.6945
438	48	9765	0.0002	4652359005	98.6944
439	54	19305	0.0004	4652349240	98.6942
440	59422	4465248885	94.7251	4652329935	98.6938
9999	1105105	187081050	3.9687	187081050	3.9687
TOTAL	1169039	4713904875

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange ('BSE') on November 20, 2007. The IPO Committee of Directors of the Company at its meeting held on November 21, 2007 approved the Basis of Allocation of Equity Shares in the Issue and has allotted equity Shares to various successful applicants as described in 'Method of Proportionate Basis of Allotment in the Issue' on page 325 of the Prospectus dated November 14, 2007.

A) Allocation to Non Institutional Bidders:
This category (net of technical rejections) was over subscribed 152.940370 times. The total number of shares allotted in this
category is 40,10,000 Equity Shares. The category wise details of the Basis of Allocation in this category are as under
(Only a sample provided):

Category	No. Of Applications	% to total	No. of Equity Shares applied	% to total	No. of Equity Shares allocated	Ratio	Total No. of Equity Shares allocated
240	382	7.88	91680	0.01	15	1:10	570
255	49	1.01	12495	0.00	15	5:49	75
270	36	0.74	9720	0.00	15	1:9	60
285	11	0.23	3135	0.00	15	1:11	15
300	191	3.94	57300	0.01	15	5:38	375
315	25	0.52	7875	0.00	15	3:25	45
330	26	0.54	8580	0.00	15	2:13	60
345	23	0.47	7935	0.00	15	3:23	45
360	10	0.21	3600	0.00	15	1:5	30
375	24	0.50	9000	0.00	15	1:6	60
390	13	0.27	5070	0.00	15	2:13	30
405	14	0.29	5670	0.00	15	1:7	30
420	11	0.23	4620	0.00	15	2:11	30
435	9	0.19	3915	0.00	15	2:9	30
450	250	5.16	112500	0.02	15	1:5	750
465	13	0.27	6045	0.00	15	3:13	45
480	10	0.21	4800	0.00	15	1:5	30
495	29	0.60	14355	0.00	15	6:29	90
510	25	0.52	12750	0.00	15	1:5	75
525	21	0.43	11025	0.00	15	5:21	75
540	6	0.12	3240	0.00	15	1:6	15
555	5	0.10	2775	0.00	15	1:5	15
750	25	0.52	18750	0.00	15	8:25	120
900	32	0.66	28800	0.00	15	13:32	195
1410	2	0.04	2820	0.00	15	1:2	15
2280	23	0.47	52440	0.01	15	FIRM	345

B) Allocation to Retail Individual Bidders:
This category (net of technical rejections) was over subscribed 15.328019 times. The total number of shares allotted in this category is 1,20,30,000 Equity Shares. The category wise details of the Basis of Allocation in this category are as under:

Category	No. of Applications	% to total	No. of Equity Shares applied	% to total	No. of Equity Shares allocated	Ratio	Total No. of Equity Shares allocated
15	47018	4.28	705270	0.38	15	7:100	49260
30	53063	4.83	1591890	0.86	15	3:23	103815
45	42777	3.69	1924965	1.04	15	9:46	125535
60	43159	3.93	2589540	1.40	15	6:23	168885
75	28954	2.63	2171550	1.18	15	15:46	141630
90	31019	2.82	2791710	1.51	15	9:23	182070
105	93516	8.51	9819180	5.33	15	21:46	640380
120	35527	3.23	4263240	2.31	15	12:23	278040
135	9961	0.91	1344735	0.73	15	27:46	87705
150	29244	2.66	4386600	2.38	15	15:23	286080
165	7331	0.67	1209615	0.66	15	33:46	78885
180	10459	0.95	1882620	1.02	15	18:23	122775
195	7266	0.66	1416870	0.77	15	42:49	93315
210	14558	1.32	3057180	1.66	15	21:23	199380
225	645516	58.72	145241100	78.77	15	45:46	9472245

C) Allocation to Eligible Employees:
This category (net of technical rejections) was over subscribed 2.324200 times. The total number of shares allotted in this category is 1,50,000 Equity Shares. The category wise details of the Basis of Allocation in this category are as under:
(Only a sample provided):

Category	No. of Applications	% to total	No. of Equity Shares applied	% to total	No. of Equity Shares allocated	Ratio	Total No. of Equity Shares allocated
45	5	1.68	225	0.06	19	FIRM	95
150	2	0.67	300	0.09	65	FIRM	130
240	2	0.67	480	0.14	104	FIRM	208
360	3	1.01	1080	0.31	155	FIRM	465
450	8	2.69	3600	1.03	194	FIRM	1552
585	1	0.34	585	0.17	252	FIRM	252
705	2	0.67	1410	0.40	304	RRM	608
840	1	0.34	840	0.24	361	HRM	361
975	1	0.34	975	0.28	419	RRM	419
1095	3	1.01	3285	0.94	471	RRM	1413
1125	1	0.34	1125	0.32	484	RRM	484
1200	3	1.01	3600	1.03	516	FIRM	1548
1215	2	0.67	2430	0.70	523	RRM	1046
1440	2	0.67	2880	0.83	619	RRM	1238
1695	2	0.67	3390	0.97	729	RRM	1458
1965	1	0.34	1965	0.56	844	RRM	844
1995	2	0.67	3990	1.14	858	FIRM	1716
2010	108	36.36	217080	62.27	865	RRM	93420

D) Allocation to Qualified Institutional Buyers:

Category	Financial Institutional/Banks	Mutual Funds	Foreign Institutional Investors	Insurance Companies	VCs
No. of Equity Shares	3405300	2996672	16117344	1447328	93356

The Refund Orders due to applicants have been dispatched to the address of the investors as registered with the depositories on November 22, 2007. 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 allotted to successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned on November 22, 2007. The listing applications have been filed with the BSE and NSE on November 22,2007 and the Company is taking steps to get the Equity Shares admitted for trading on the BSE and NSE within seven working days from the date of approval of the Basis of Allocation.

Investors Please Note:
The details of allocation made would be hosted on the website of the Registrar to the Issue, Intime Spectrum Registry Limited at www.intimespectrum.com
Further correspondence in respect of allotment of Equity Shares pertaining to the Issue may be addressed to the Registrar to the Issue, Intime Spectrum Registry Limited, 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, Place where the bid was submitted and payment details at the address given below:

Intime Spectrum Registry Ltd.,
C-13, Pannalal Silk Mills Compound,
LBS Road Mumbai -400078
^{Tel.: (022) 2596 0320, Fax: (022) 2596 0329}
^{E-mail: mpsezi-ipo@intimespectrum.com}
^{Contact Person : Mr. Vishwas Attavar}

Place: Ahmedabad, Date : November 22, 2007	For Mundra Port And Special Economic Zone Limited On Behalf of the Board of Directors Sd/- Authorized Signatory

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 MUNDRA PORT AND SPECIAL ECONOMIC ZONE LIMITED.

Mundra Port IPO Basis of Allotment FAQs

Check the basis of allotment document above to know about how the shares are allocated in Mundra Port IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).

The Mundra Port IPO basis of allotment (published above) tells you how shares are allocated to you in Mundra Port IPO and category wise demand of IPO share.

Visit the Mundra Port IPO allotment status page to check the number of shares allocated to your application.

Mundra Port IPO Basis of Allotment

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