Renaissance IPO Basis of Allotment

RENAISSANCE JEWELLERY LIMITED

(Our Company was incorporated as Mayur Gem and Jewellery Export Private Limited on December 4, 1989. The name of our Company was changed to Rinaissance Gem and Jewellery Export Private Limited with effect from April 16, 1997. The name of our Company was changed to Renaissance Jewellery Private Limited on April 5, 2002. Pursuant to conversion into a  public limited company, our name was changed to Renaissance Jewellery Limited with effect from December 20, 2005. For details regarding changes of our registered office, see the Section titled 'History and Certain Corporate Matters' beginning on page 71 of the Prospectus) Registered Office: Plot No. 36A and 37, SEEPZ-SEZ, MIDC Marol, Andheri (East), Mumbai - 400 096, India. Phone: (91 22) 4055 1200, Fax: (91 22) 6693 8457; E-mail: ipo@renjewellery.com; Website: www.renjewellery.com Company Secretary and Compliance Officer. Ms.Manju B.Batham; Tel:(91 22)40551369 Fax: (91 22)66938457; E-mail: ipo@renjewellery.com; Website: www.renjewellery.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 5,324,240 EQUITY SHARES ('EQUITY SHARES') OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 150 PER EQUITY SHARE ALONG WITH ONE DETACHABLE WARRANT FOR EVERY TWO EQUITY SHARES ALLOTTED AGGREGATING TO RS.798.6 MILLION (THE 'ISSUE') BY RENAISSANCE JEWELLERY LIMITED ('RENAISSANCE' OR 'RJL', OR THE 'COMPANY', OR OUR 'COMPANY', OR THE 'ISSUER').THE ISSUE OF EQUITY SHARES WILL CONSTITUTE 29.00% OF THE FULLY DILUTED POST-ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY PRIOR TO EXERCISE OF DETACHABLE WARRANTS AND THE ISSUE SHALL CONSTITTUTE 37.99% OF THE PAID-UP EQUITY SHARE CAPITAL AFTER EXERCISE OF DETACHABLE WARRANTS, ASSUMING FULL EXERCISE OF DETACHABLE WARRANTS.

ISSUE PRICE: Rs. 150 PER EQUITY SHARE OF FACE VALUE Rs. 10/-
THE ISSUE PRICE IS 15 TIMES OF THE FACE VALUE

This Issue was being made through 100% Book Building Process wherein not more than 50% of the Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers ('QIBs') on a proportionate basis Out of which 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only and the remaining QIB portion shall be available for allocation to the QIB bidders including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, not less than 15% of the Issue shall be available for allocation on a proportionate basis to Non Institutional Bidders and not less than 35% of the 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.

The Bid/Offer opened on November 19, 2007 and Closed on November 21, 2007. The Issue received 47,413 applications for 124,319,610 equity shares resulting In 23.35 times subscription.

The Basis of Allotment for all the categories namely Retail Individual Investors, Non Institutional Investors and Qualified Institutional Buyers was approved by National Stock Exchange of India Limited (Designated Stock Exchange) on December 04, 2007. The Board of Directors of the Company at its Meeting held at Mumbai, on December 05, 2007, allotted the Equity Shares and warrants to the successful applicants. Details of valid applications received and allotments done are as under (Before Technical Rejections):

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

The Basis of Allotment was finalised in consultation with the Designated Stock Exchange - National Stock Exchange of India Limited ('NSE') on Tuesday December 04, 2007.

A. Allotment to Retail Investors (After Technical Rejections)
All the bidders in the Retail Investors, who have bid at cut-off or at the Issue Price of Rs. 150/- per Equity Share, have been considered while preparing the basis of allotment. The category was over subscribed 9.878714 times. The total number of shares allotted in this category is 1863490 Equlty Shares, The category-wise details of the Basis of allotment are as under

B. 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.150/- per Equity Share, have been considered while preparing the basis of allotment. The category was over subscribed 55.265465 times. The total number of shares allotted in this category is 798630 Equity Shares. The category-wise details of the Basis of allotment are as under: (Sample)

C. Allotment to QIBs

The total numbers of Equity Shares allotted in this category are 2662120 Equity Shares (50% of total Equity Shares allotted). Out of 2662120 Equity Shares offered to QIBs as per the terms of the Issue, 133106 Equity Shares (i.e. 5% of 2662120 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. 2529014. The category was over subscribed 23.1286 times. The category-wise details of the Basis of allotment are as under:

The Board of Directors of the Company at a meeting held at Mumbai, on December 05, 2007 adopted the Basis of Allotment of Equity Shares and Warrants in the Issue, approved by NSE and allotted 5324240 Equity Shares and 2666309 Warrants to the successful applicants. The dispatch of refund orders and the dispatch of allotment advices have been completed on December 6, 2007. The Company has filed the listing application with the Bombay Stock Exchange Limited and National Stock Exchange of India Limited on December 06, 2007.
The Refund Orders / allotment advice in respect of refunds due to applicants has been dispatched to the addresses of the investors as registered with the depositories. In case the same is not received within ten days, investors may contact the Registrar to the Issue 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 and Warrants allocated to the 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 and Warrants admitted for trading on the Bombay Stock Exchange Limited and National Stock Exchange of India Limited within seven working days from the date of approval of Basis of Allotment.

INVESTORS PLEASE NOTE

This details of the allotment made would be hosted on the website of Registrars to the Issue, Intime Spectrum Registry Limited at www.intimespectrum.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:

Intime Spectrum Registry Limited
C-13 Pannalal Silk Mills Compound, L B S Marg, Bhandup (W), Mumbai 400 078, India
Tel: +91 22 2596 0320; Fax: +91 22 2596 0329 E-mail: rjlipo@intimespectrum.com
Website: www.initimespectrum.com Contact Person: Mr. Sachin Achar

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 RENAISSANCE JEWELLERY LIMITED