May 16, 2018 - May 22, 2018

Sirca Paints IPO Basis of Allotment

Our Company was originally incorporated at New Delhi as' Sircolor Wood Coatings Private Limited' on 19th January, 2006 under the provisions of the Companies Act 1956. Thereafter, the Name of the Company was changed to "Sirca Paints India Private Limited" vide fresh certificate of incorporation dated 3rd May, 2017 issued by the Registrar of Companies, Delhi. Consequently, the name of the Company was changed to "Sirca paints India Limited" vide fresh certificate of incorporation dated 17th January, 2018 issued by the Registrar of Companies. Delhi. For further details of incorporation, change of name and registered office of our Company, please refer to chapter titled "General Information" and "Our History Corporate Structure" beginning on pages 52 and page 156 respectively of the Prospectus.

Registered Office: 504, NDM-II, Netaji Subhash Place Wazirpur, Pitampura New Delhi-110034, Delhi, India Tel No.: +91 11 42083083, +91 11 47533213; Email: admin@sircapaints.com; Website: www.sircapaints.com ;
Contact Person; Mr. Chahat Mahajan, Company Secretary and Compliance Officer

PROMOTERS OF OUR COMPANY: MR. SANJAY AGARWAL, MR. APOORV AGARWAL & MR. GURJIT SINGH BAINS

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFER CONSISTING OF FRESH ISSUE OF48,69,600 EQUITY SHARES OF FACE VALUE OF RS 10/- EACH FULLY PAID FOR CASH AT A PRICE OF RS. 160/- PER EQUITY SHARE (THE "ISSUE PRICE") (INCLUDING A SHARE PREMIUM OF RS.150 PER EQUITY SHARE ) AGGREGATING RS 7791.36 LAKHS (THE "ISSUE")� OF WHICH 2,44,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS 160/- PER EQUITY SHARE, AGGREGATING RS.390.40 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E ISSUE OF 46,25,600 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 160/- PER EQUITY SHARE, AGGREGATING RS. 7400.96 LAKHS IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.65% and 25.32% RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COM PANY.

Risks to Investors:

I. As on date of the Prospectus, the average cost of acquisition per Equity Share by our Promoters viz. Mr. Sanjay Agarwal is Rs 0.96/-, Mr. Apoorv Agarwal is 0.33/-. And Mr. Gurjit Singh Bains is Rs 0.89/- respectively

II. This being the first public Issue of our Company, there has been no formal market for the Equity Shares. The face value of the Equity Shares is Rs. 10 each. The Floor Price was l5.10 times the face value and the Cap Price was 16.00 times the face value. The Issue Price (determined and justified by our Company in consultation with the BRLM as stated in "Basis for Issue Price" on page 98 of the Prospectus should not be taken to be indicative of the market price of the Equity Shares after the Equity Shares are listed. No assurance can be given regarding an active or sustained trading in the Equity Shares or regarding the price at which the Equity Shares will be traded after listing.
All Investors except Anchor Investors have participated in this Issue through ASBA process. For details In this regards, specific attention is invited to chapter "Issue Procedure" on page261 of the Prospectus.

THE FACE VALUE OF EQUITY SHARES IS RS. 10/- EACH
THE ISSUE PRICE IS RS. 160/- AND IS 16.00 TIMES THE FACE VALUE OF THE EQUITY SHARES
ISSUE OPENED ON: WEDNESDAY, MAY 16, 2018 AND CLDSED ON: TUESDAY MAY 22, 2018
*THE ANCHOR INVESTOR BID/ISSUE PERIOD WAS TUESDAY, MAY15, 2018

In terms of Rule 19(2) (b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended (the "SCRR") the Issue is being made for at least 25% of the post- Issue paid-up Equity Share capital of our Company wherein 49.69% of the Net Issue was available for allocation on a proportionate basis to QIBs. provided that our Company, in consultation with the BRLM allocated upto 59.62% of the QIB Portion to Anchor Investors on a discretionary basis after adjusting lot size. One-third of the Anchor Investor Portion was reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under- subscription in the Anchor Investor Portion, the remaining Equity Shares was added to the QIB Portion.
5% of the QIB Portion (excluding the Anchor Investor Portion) was available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB portion (excluding Anchor Investor Portion) was available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Issue Price, in the event the aggregate demand from Mutual Funds is less than as specified above, the balance Equity Shares available for Allotment in the Mutual Fund Portion will be added to the QIB Portion and allocated proportionately to the QIB Bidders (other than Anchor Investors) in proportion to their Bids. Further 15.12% of The Net Issue was available for allocation on a proportionate basis to Non institutional Bidders and 35.19% of the Net Issue was available for allocation on a proportionate basis to Retail individual Bidders, subject to valid Bids being received at or above the Issue Price. For further details, please refer to the chapter titled "Issue Procedure' on page 261 of Prospectus.

The Equity Shares of our Company issued through the Prospectus are proposed to be listed on the EMERGE Platform of National Stock Exchange of India Limited ('NSE EMERGE') in terms of the Chapter XB of the-SEBI (ICDR) Regulations, 2009 as amended from time to time. Our Company has received an approval letter dated 6th April, 2018 from NSE EMERGE for using its name in the issue document for listing of our shares on the EMERGE Platform of National Stock Exchange of India Limited. For the purpose of this issue, EMERGE Platform of the National Stock Exchange of India Limited shall be the Designated Stock Exchange.

SUBSCRIPTION DETAILS

The Issue has received 18,873 applications for 3,84,91,200 Equity shares (Before Technical Rejections. Multiple Rejections, bids not banked and invalid duplicate bids) including Market Maker Application of 2,44,000 Equity Shares. 867 applications of aggregating 12,40,000 Equity Shares were not banked and 25 applications of aggregating 20,000 Equity Shares were found invalid duplicate bids. The Issue was subscribed to the extent of 10.64 times(excluding Anchor Investor Portion and after removing multiple and duplicate bids) as per the bid books of NSE. After considering the technical rejections cases, the issue was subscribed 10.59 times. The details of application received (Before Technical Rejection and Multiple Rejections but after bids not banked and invalid duplicate bids)

Category	No. of Applications	Number of Equity Shares	SUBSCRIPTION
Market Makers	1	2,44,000	1.00
Retail Individual Investors	17773	1,42,18,400	8.73
Non Institutional Investors	205	2,16,18,400	30.92
Qualified Institutional Buyer (Excluding Anchor Investors)	2	11,50,400	1.24
Anchor Investors	3	21,88,800	1 60
TOTAL	17984	3,94,20,000	8.10

The details of applications rejected by the Registrar on technical grounds are detailed below:

Category	No. of Applications	Number of Equity Shares
Market Makers	Nil	Nil
Retail Individual Investors	196	1,56,800
Non Institutional Investors	6	23,200
TOTAL	202	1,80,000

Details of the Valid Applications Received (After technical Rejections):

Category	No. of Applications	Number of Equity Shares	Subscription
Market Makers	1	2,44,000	1.00
Retail individual Investors	17577	1,40,61,600	8.64
Non Institutional Investors	199	2,15,95,200	30.89
Qualified institution Buyers (Excluding Anchor Investors)	2	11,50,400	1.24
Anchor investors	3	21,88,800	1.60
TOTAL	17782	3,92,40,000	8.06

Final Demand

Sr No	Bid Price	No of Equity Shares Bid for	% to total	Cumulative total	% of Cumulative total
1.	151.00	16,000	0.04%	16,000	0.04%
2.	152.00	1600	0.00%	17,600	0.05%
3	153.00	800	0.00%	18,400	0.05%
4.	154.00	-	-	18,400	0.05%
5.	155.00	4000	0.01%	22,400	0.06%
6.	156.00	-	-	22,400	0.06%
7.	157.00	-	-	22,400	0.06%
8.	158.00	1600	0.00%	24,000	0.06%
9.	159.00	1600	0.00%	25,600	0.07%
10.	160.00	3,35,20,800	87.09%	3,35,46,400	87.16%
11.	Cut-Off	49,44,800	12.85%	3,84,91,200	100%
	Total	3,84,91,200	100.00

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange-EMERGE Platform of the National Stock Exchange of India Limiled on May 25, 2018.

A. Allocation to Market Maker (After Technical Rejections and Multiple Rejections) :The Basis of Allotment to the Market Maker, at the issue price of Rs.160/- per Equity Share, was finalized In consultation with National Stock Exchange of India Limited. The category was subscribed by 1.00 times.The total number of shares allotted in tins category is 2,44.000 Equity shares in full out of reserved portion of 2,44,000 Equity Shares.

B Allocation to Retail Individual Investors (Alter Technical Rejections and Multiple Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs.160/- per Equity Share, was finalized in consultation witn National Stock Exchange of India Limited. The category was subscribed by 8.64 times. Total number of shares allotted in this category is 16,28,000 Equity Shares. The category wise basis of allotment is as under:

No. of Shares Applied for (Category wise)	No of Applications received	% to total	Total No Equity Shares applied	% to total	Proportionate Shares Available	Allocation per Applicant (Before Rounding Off)	Allocation per Applicant (After Rounding Off)	Ratio of Allottees to the Applicants	Total No. of Equity Shares allotted	Surplus/ (Deficit)]
800	17577	100.00	1,40,61,600	100	16,28,000	92.62	800	11:95	16,28,000	-

C. Allocation to Non Institutional Investor (After Technical Rejection and Multiple Rejections): The Basis of Allotment to Non Institutional Investors, at the issue price of Rs 160/- per equity Share, was finalized in consultation with National Stock Exchange of India Limited.
The category was subscribed by 30 89 times, Total number of shares allotted in this category is 6.99,200 Equity Shares. The category wise basis of allotment is as under:

No. of Shares Applied for (Category wise)	No of Applications received	% to total	Total No of Equity Shares applied in this Category	% to total	Proportionate Shares Available	Allocation per Applicant (Before Rounding Off)	Allocation per Applicant (After Rounding Off)	Ratio of Allottees to Applicant	Total No. of Equity Shares allocated/ allotted	No of Shares Surplus/ (Deficit)
1,600	35	17.59	56,000	0.26	1,813	51.80	800	2:35	1,600	213
2,400	15	7.54	36,000	0.17	1,166	77.73	800	1:15	800	366
3,200	13	6.53	41,600	0.19	1,347	103.62	800	2:13	1,600	(253)
4,000	5	2.51	20,000	0.09	648	129.60	800	1:5	800	(152)
4,800	5	2.51	24,000	0.11	777	155.40	800	1:5	800	(23)
5,600	14	7.04	78,400	0.36	2,538	181.29	800	3:14	2,400	138
6,400	8	4.02	51,200	0.24	1,658	207.25	800	1:4	1,600	58
7,200	4	2.01	28,800	0.13	932	233.00	800	1:4	800	132
8,000	5	2.51	40,000	0.19	1,295	259.00	800	2:5	1,600	(305)
8,800	2	1.01	17,600	0.08	570	285.00	800	1:2	800	(230)
9,600	1	0.50	9,600	0.04	311	311.00	800	1:1	800	(489)
10,400	1	0.50	10,400	0.05	337	337.00	800	1:1	800	(463)
12,000	3	1.51	36,000	0.17	1,166	388.67	800	1:3	800	366
12,800	2	1.01	25,600	0.12	829	414.50	800	1:2	800	29
13,600	1	0.50	13,600	0.06	440	440.00	800	1:1	800	(360)
14,400	1	0.50	14,400	0.07	456	466.00	800	1:1	800	(334)
15,200	1	0.50	15,200	0.07	492	492.00	800	1:1	800	(308)
16,000	4	2.01	64,000	0.30	2.072	518.00	800	3:4	2,400	(328)
16,800	1	0.50	16,800	0.08	644	544.00	800	1:1	800	(256)
17,600	1	0.50	17,600	0.08	570	570.00	800	1:1	800	(230)
18,400	2	1.01	36,800	0.17	1.191	595.50	800	1:2	800	391
20,000	2	1.01	40,000	0.19	1.295	647.50	800	1:1	1,600	(305)
20,800	1	0.50	20,800	0.10	673	673.00	800	1:1	800	(127)
21,600	1	0.50	21,600	0.10	699	699.00	800	1:1	800	(101)
22,400	1	0.50	22,400	0.10	725	725.00	800	1:1	800	(75)
24,000	4	2.01	96,000	0.44	3,103	777.00	800	1:1	3,200	(92)
24,800	2	1.01	49,600	0.23	1.606	803.00	800	1:1	1,600	6
25,600	1	0.50	25,600	0.12	329	829.00	800	1:1	800	29
26,400	1	0.50	26,400	0.12	955	855.00	800	1:1	800	55
29,600	1	0.50	29,600	0.14	953	958.00	800	1:1	800	158
31,200	1	0.50	31,200	0.14	1.010	1,010.00	800	1:1	800	210
32,000	3	1.51	96,000	0.44	3.103	1,036.00	800	1:1	2,400	708
36,000	1	0.50	36,000	0.17	1.166	1,166.00	800	1:1	800	366
36,800	1	0.50	36,800	0.17	1.191	1,191.00	800	1:1	800	391
37,600	2	1.01	75,200	0.35	2.455	1,217.50	800	1:1	1,600	835
37,600	2	1.01	75,200	0.35	2.455	1,217.50	800	1:2	800	(800)
40,000	1	0.50	40,000	0.19	1,295	1,295.00	1,600	1:1	1,600	(305)
40,800	1	0.50	40,800	0.19	1,321	1,321 00	1,600	1:1	1,600	(279)
41,600	1	0.50	41,600	0.19	1,347	1,347.00	1,600	1:1	1,600	(253)
56,000	1	0.50	56,000	0.26	1,813	1,813.00	1,600	1:1	1,600	213
60,800	1	0.50	60,800	0.28	1,969	1,969.00	1,600	1:1	1,600	369
62,400	5	2.51	3,12,000	1.44	10,102	2,020.40	1,600	1:1	8,000	2,102
62,400	5	2.51	3,12,000	1.44	10,102	2,020.40	800	3:5	2,400	(2,400)
63,200	1	0.50	63,200	0.29	2,046	2,046.00	2,400	1:1	2,400	(354)
64,000	1	0.50	64,000	0.30	2,072	2,072.00	2,400	1:1	2,400	(328)
64,800	1	0.50	64,800	0.30	2,098	2,098.00	2,400	1:1	2,400	(302)
65,600	1	0.50	65,600	0.30	2,124	2,124.00	2,400	1:1	2,400	(276)
66,400	1	0.50	66,400	0.31	2,150	2,150.00	2,400	1:1	2,400	(250)
67,200	1	0.50	67,200	0.31	2,176	2,176.00	2,400	1:1	2,400	(224)
68,000	1	0.50	68,000	0.31	2,202	2,202.00	2,400	1:1	2,400	(198)
68,800	1	0.50	68,800	0.32	2,228	2,228.00	2,400	1:1	2,400	(172)
72,800	1	0.50	72,800	0.34	2,357	2,357.00	2,400	1:1	2,400	(43)
74,400	1	0.50	74,400	0.34	2,409	2,409.00	2,400	1:1	2,400	9
77,600	3	1.51	2,32,800	1.08	7,538	2,512. 67	2,400	1:1	7,200	338
80,000	1	0.50	80,000	0.37	2,590	2,590.00	2,400	1:1	2,400	190
84,000	1	0.50	84,000	0.39	2,720	2,720.00	2,400	1:1	2,400	320
90,400	1	0.50	90,400	0.42	2,927	2,927.00	2,400	1:1	3,200	(273)
94,400	1	0.50	94,400	0.44	3,056	3,056.00	3,200	1:1	3,200	(144)
96,000	1	0.50	96,000	0.44	3,108	3,108.00	3,200	1:1	3,200	(92)
1,08,000	1	0.50	1,08,000	0.50	3,497	3,497.00	3,200	1:1	3,200	297
1,24,800	1	0.50	1,24,800	0.58	4,041	4,041.00	4,000	1:1	4,000	41
1,28,800	1	0.50	1,28,800	0.60	4,170	4,170.00	4,000	1:1	4,000	170
1,56,000	1	0.50	1,56,000	0.72	5,051	5,051.00	4,800	1:1	4,800	251
2,40,000	1	0.50	2,40,000	1.11	7,771	7,771.00	8,000	1:1	8,000	(229)
2,49,600	1	0.50	2,49,600	1.16	8,081	8,081.00	8,000	1:1	8,000	81
2,81,600	1	0.50	2,81,600	1.30	9,118	9,118.00	8,800	1:1	8,000	318
3,12,000	1	0.50	3,12,000	1.44	10,102	10,102.00	10,400	1:1	10,400	(298)
3,76,000	1	0.50	3,76,000	1.74	12,174	12,174.00	12,000	1:1	12,000	174
4,05,600	1	0.50	4,05,600	1.88	13,132	13,132.00	12,800	1:1	12,800	332
4,71,200	1	0.50	4,71,200	2.18	15,256	15,256.00	15,200	1:1	15,200	56
5,00,000	1	0.50	5,00,000	2.32	16,189	16,189.00	16,000	1:1	16,000	189
6,24,800	4	2.01	24,99,200	11.57	80,918	20,229.50	20,000	1:1	80,000	918
6,24,800	4	2.01	24,99,200	11.57	80,918	20,229.50	800	1:4	800	(800)
8,00,000	1	0.50	8,00,000	3.70	25,902	25,902.00	25,600	1:1	25,600	302
9,36,800	2	1.01	18,73,600	8.68	60,663	30,331.50	30,400	1:1	60,800	(137)
12,49,600	2	1.01	24,99,200	11.57	80,918	40,459.00	40,000	1:1	80,000	918
12,49,600	2	1.01	24,99,200	11.57	80,918	40,459.00	800	1:2	800	(800)
12,80,000	1	0.50	12,80,000	5.93	41,443	41,443.00	49,800	1:1	40,800	643
15,62,400	2	1.01	31,24,800	14.47	1,01,173	50,586.50	50,400	1:1	1,00,800	373
30,00,000	1	0.50	30,00,000	13.89	97,133	97,133.00	96,800	1:1	96,800	333
TOTAL	199	100	2,15,95,200	100 00	6,99,200				6,99,200	0

D. Allocation to Qualified Institutional Investor (Excluding Anchor Investors and After Technical Rejection and multiple rejections)
Allotment to QIBs, who have bid at the Issue Price of 160/- per Equity Share, has been done on a proportionate basis in consultation with the NSE. This category has been subscribed to the extent of 1.24 times of� Net QIB portion. As per the SEBI Regulations, Mutual Funds were to be allotted 5% of the Equity Shares of Net QIB portion available i.e. 46,400 Equity Shares, however no application from Mutual Funds has been received and accordingly 46,400 equity shares has been spilled over to other QIBs and 9,28,000 Equity Shares were allotted to QIBs to 2 applicants against total application of 11,50,400 Equity Shares.

The category-wise details of the Basis of Allotment are as under:

Category	Fls/Banks	MF's	ICs	NBFC	AIF	Fll	Others	Total
QIB	-	-	-	2,42,400	-	6,85,600	-	9,28,000

E. Allocation to Anchor Investors
Our Company in consultation with the BRLM have allocated 13,70,400 Equity Shares to 3 Anchor Investors at the Anchor Investor issue Price of Rs. 160/- per Equity Share in accordance with SEBIICDR Regulations. This represents 59.62% of the QIB Portion after adjusting Lot size:

Category	Fls/Banks	MF's	ICs	VCs	AIF	Fll	FPC	Total
Anchor	-	-		3,37,600	10,32,800	-	-	13,70,400

The Board of Directors of the Company at its meeting held on May 26, 2018 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. National Stock Exchange of India Limited and authorized corporate action for allotment of shares in dematerialized form to various successful applicants.
The Allotment cum refund advice and/or notices will be dispatched to the address of the Applicants as registered with the depositories. Further, the instructions to SCSBs will be issued on or before May 28, 2018 for unblocking of funds.The Equity Shares allocated to successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. In case the same is not received within prescribed time. Investors may contact the registrar to the issue at the address given below. The Company is taking steps to get the Equity Shares admitted for trading on theEMERGE Platform of the National Stock Exchange of India Limited within six working days from the date of the closure of the Issue. The trading is proposed to commence on or before May 30, 2018 subject to receipt of listing and trading approvals from NSE.

INVESTORS PLEASE NOTE

The details of the allotment made will he hosted on the website of the Registrar to the Issue at www.karisma.karvy.com� All future correpondenc in this regard may kindly be addressed to the Registrar quoting full name of the First / Sole applicant, serial number of the Application Form, number of shares applied for and Bank Branch where the application had been lodged and payment details at the address of the Registrar given below:

KARVY COMPUTERSHARE PRIVATE LIMITED
Karvy Selenium Tower B, Plot 31-32, Gachibowli. Financial District, Nanakramguda. Hyderabad 500 032
Tel: +91 40 6716 2222 Fax: + 91 40 2343 1551 Websile: www.karisma.karvy.com Email: sircapaints.ipo@karvy.com
Contact Person: Mr. M Murali Krishna

Date:� May 28, 2016 Place: Delhi	For Sirca Paints India Limited On behalf of the Board of Directors sd/- Sanjay Agarwal Managing Director

Sirca Paints IPO Basis of Allotment FAQs

The IPO allocation is based on the subscription level and the investor category.

Refer to IPO allotment rules and methods for more details.

See the basis of allotment document above to know how the shares are allocated in Sirca Paints IPO .

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

Visit the Sirca Paints IPO allotment status page to check the number of shares allocated to your application.

In Sirca Paints IPO allotment process, the registrar separates valid and invalid applications. The invalid applications with technical errors are rejected and only valid applications at or above the cut-off price are considered for allotment.

For more information, please refer to IPO Allotment Process and Basis of Allotment.

Check the Sirca Paints IPO basis of allotment document to know how the shares are allocated in Sirca Paints IPO.

Sirca Paints IPO Basis of Allotment

Sirca Paints IPO Basis of Allotment FAQs

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