Nelcast IPO Basis of Allotment

NELCAST LIMITED

(Incorporated on 7 June, 1982 as Nelcast Private Limited at Nellore, Andhra Pradesh under the Companies Act, 1956 with Registration No.01-3518. The Company was converted into a public limited company and the name was changed to Nelcast Limited on 20 September, 1995. The Registered Office of the Company was changed from 24-398, Dargamitta, Nellore, Andhra Pradesh 524003 to the present location on 12 July, 1994).
Registered Office: 34, Industrial Estate, Gudur 524101. Tel: +91 8624 251 266.
Corporate Office: 159, TTK Road, Alwarpet, Chennai - 600 018, Tamil Nadu.
Tel: + 91 44 2498 3111. Fax: + 91 44 2498 2111,
E-mail: nelcast@nelcast.com, website: www.nelcast.com.
Contact Person: Mr. S. K. Sivakumar, Company Secretary & Compliance Officer.

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 43,50,000 EQUITY SHARES OF RS.10/- EACH FOR CASH AT A PRICE OF RS.219 PER EQUITY SHARE AGGREGATING RS.9526.50 LAKHS. THE ISSUE WOULD CONSTITUTE 25% OF THE FULLY DILUTED POST ISSUE PAID-UP EQUITY CAPITAL OF THE COMPANY.
THE ISSUE RECEIVED 32459 APPLICATIONS FOR 30709475 EQUITY SHARES RESULTING IN 7.0596 TIMES SUBSCRIPTION.
The Basis of Allotment was approved by Bombay Stock Exchange Limited (Designated Stock Exchange) on June 20,2007. The Board of Directors of the Company at its meeting held on June 21,2007 has approved the Basis of Allotment of equity shares and allotted the equity shares to various successful applicants.

PUBLIC ISSUE
The details of valid applications received in the issue from Retail Category, Corporates/Institutions (Non Retail Category) and QIBs are as under:

A. Allotment to Retail Investors
The total number of shares allotted in this category is 1975860 equity shares. 240 excess shares have been allotted due to rounding off. The category-wise details of the Basis of Allotment are as under:

B. Allotment to Non Institutional Investors (Applied for more than 450 shares)
The total number of shares allotted in this category is 199380 equity shares. This category has been under subscribed and therefore all the applicants in this category have been given firm allotment.

C. Allotment to Qualified Institutional Bidders (QIBs)
Allotment to QIBs has been done on a proportionate basis in consultation with BSE. The total number of equity shares in this category are 2175000 equity shares. All the applicants in this category have been given firm allotment on a proportionate basis. Out of 2175000 equity shares offered to QIBs are as per the terms of the issue, 108750 (i.e 5% of 2175000 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 QIBs category i.e 2066250 shares.
Bidders should note that on the basis of name of the Bidders, DP ID and Client ID provided by them in the Bid cum Application Form, Registrar to the Issue has obtained from the Demographic Details of the Bidders details such as address, bank account details along with the nine digit MICR Code and occupation (herein after referred to as 'Demographic Details') from the Depositories. These Demographic Details have been used for all correspondence with the Bidders including mailing of the refund orders/CANs/Allocation Advice/Refund Advice, printing of bank particulars on the refund order and for refunds through ECS/Direct Credit/RTGS. The Demographic Details given by the Bidders in the Bid-cum-application form would not be used for these purposes by the Registrar. Investors should also note that the bank particulars received from the Depositories have been used for refund through ECS/Direct Credit/RTGS and overprinted on the refund orders. Applicants having a bank account in any of the 15 centres where clearing houses are managed by the Reserve Bank of India (RBI),viz. Abmedabad, Bangalore, Bhubaneshwar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Kanpur, Kolkata, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram, will get refunds through mandatory Electronic Clearance Scheme (ECS) only, except where applicant is otherwise disclosed as eligible to get refunds through direct credit or Real lime Gross Settlement (WIGS). Applicants having a bank account at any of the 15 centers detailed above, and whose bid amount exceeds Rs. 1 million, were eligible to exercise the option to receive refunds, if any, through RIGS if the IF SC code was mentioned in the Bid-cum-application form.
The despatch of Refund Orders has been completed by June 22,2007 to the address of the investors as registered with the depositories. In case the same is not received within ten days, investors may contact at the address given below. The refund orders have been printed with the Bank Mandate details as registered, if any, with the depositories. The Equity Shares allocated to the successful applicants have been credited to their beneficiary accounts on June 22,2007 subject to validation of the account details with the depositories concerned. The Company has submitted the listing application on June 22,2007. 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 and within seven working days from the date of approval of the basis of allocation.

INVESTORS PLEASE NOTE
The details of the allocation made have been hosted on the website of Registrar to the Issue viz., Bigshare Limtied at ipo@bigshareonline.com
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 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:

Bigshare Services Private Limited
E-2, Ansa Industrial Estate, Sakivihar Road, Sakl Naka, Andherl (East), Mumbai - 400 072
Tel: +91 22 2847 3747/3474. Fax: +91 22 2847 5207.
Email: ipo@bigshareonline.com Website: www.bigshareonline.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 NELCAST LIMITED