South West Pinnacle IPO Basis of Allotment

SOUTH WEST PINNACLE EXPLORATION LIMITED

Our Company was originally incorporated as 'South West Pinnacle Exploration Private Limited' at New Delhi, as a Private Limited Company under the provisions of Companies Act, 1956 vide Certificate of Incorporation dated November 27,2006 bearing Corporate Identity Number U13203DL2006PTC155912 issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana. Pursuant to change in the registered office of our Company from one state to another state vide resolution passed by shareholders of our company in the Extra Ordinary General Meeting held on September 11,2012 consequent to which fresh certificate of incorporation was issued by Registrar of Companies, Haryana, on June 05,2013 bearing Corporate Identification Number U13203HR2006PTC049480. Subsequently, pursuant to shareholders resolution passed at Extraordinary General Meeting of our Company held on October 31,2017, our Company was converted into a Public Limited Company, following which our name was changed to 'South West Pinnacle Exploration Limited' and a Fresh Certificate of Incorporation consequent upon conversion of company to Public Limited dated November 17,2017 was issued by Registrar of Companies, Delhi. The Corporate Identification number of our Company is U13203HR2006PLC049480. For details of incorporation, Change of name and registered office of our Company, please refer to chaptertitled 'General Information' and 'Our History and Certain Other Corporate Matters' beginning on page 71 and 163 respectively of the Prospectus.

Registered Office: Siddhartha House, 4th Floor, Plot No.6, Sector 44, Gurgaon-122003 (Haryana) India Tel No.: +911244235400; Fax No.: +911244235402; E-mail: info@southwestpinnacle.com ; Website: www.southwestpinnacle.com; Corporate Identification Number: U13203HR2006PTC049480 Contact Person: Arjun Sharma, Company Secretary and Compliance Officer

The Company has undertaken in consultation with the BRLM, a private placement of 54,400 Equity Shares for cash consideration aggregating Rs. 42.43 Lakhs ('Pre IPO Placement'). The size of the Issue as disclosed in the Draft Red Hearing Prospectus dated January 15,2018 being 46,51,200 Equity Shares has been reduced to 45,96,800 Equity Shares accordingly.

Risks to Investors:

I. As on date of the Prospectus, the average cost of acquisition per Equity Share by our Promoters viz. Vikas Jain and Piyush Jain is Rs. 4 and Rs. 3 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 is 7.6 times the face value and the Cap Price is 7.8 times the face value. The Issue Price (determined and justified by our Company in consultation with the BRLM as stated in 'Basis for lssue Price' on page 111 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 have participated in this Issue through ASBA process. For details in this regards, specific attention is invited to chapter 'Issue Procedure' on page 367 of the Prospectus.

THE FACE VALUE OF EQUITY SHARES IS RS. 10/- EACH.
THE ISSUE PRICE IS RS. 78/-AND IS 7.8 TIMES THE FACE VALUE OF THE EQUITY SHARES

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 49.96% 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 59.91 % 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 15.02% of the Net Issue was available for allocation on a proportionate basis to Non Institutional Bidders and 35.01 % 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 chaptertitled 'Issue Procedure' on page 367 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 January 23, 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 10854 applications for 12,61,85,600 Equity shares (Before Technical Rejections, Multiple Rejections, but after bids not banked and invalid duplicate bids) including Market Maker Application of 2,35,200 Equity Shares. The Issue was subscribed to the extent of 37.99 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 37.61 times. The details of application received (Before Technical Rejection and Multiple Rejections but after bids not banked and invalid duplicate bids)

Final Demand

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - EMERGE Platform of the National Stock Exchange of India Limited on February 15,2018.

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. 78/- 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 this category is 2,35,200 Equity shares in full out of reserved portion of 2,35,200 Equity Shares.

B. Allocation to Employee Reservation (After Technical Rejections and Multiple Rejections): The Basis of Allotment to the Employee Reservation, at the issue price of Rs. 78/- per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 1.04 times. Total number of shares allotted in this category is 80,000 Equity Shares. The category wise basis of allotment is as under:

There were 89 applications for 142,400 Equity Shares bided by Retail in Employee Category, these applications were not part of Eligible Employee List. Hence, these applications have been shifted to Retail Category.
C. Allocation to Retail Individual Investors (After Technical Rejections and Multiple Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs. 78/- per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 11.26 times. Total number of shares allotted in this category is 14,99,200 Equity Shares. The category wise basis of allotment is as under:

There were 89 applications for 142,400 Equity Shares bided by Retail in Employee Category, these applications were not part of Eligible Employee List. Hence, these applications have been shifted to Retail Category.
D. 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. 78/- per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 143.14 times. Total number of shares allotted in this category is 6,43,200 Equity Shares. The category wise basis of allotment is as under:

There were 3 applications for 57,600 Equity Shares bided by Nil in QIB category, hence the said application has been shifted to Nil Category.

E. 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 78/- per Equity Share, has been done on a proportionate basis in consultation with the NSE. This category has been subscribed to the extent of 17.97 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. 42880 Equity Shares, accordingly 41,600 equity shares were allotted after rounding off the lot size and remaining available shares i.e. 8,16,000 Equity Shares were allotted to QIBs including Mutual Fund on a proportionate basis to 11 such applicants.

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

There were 3 applications for 57,600 Equity Shares bided by Nil in QIB category, hence the said application has been shifted to Nil Category.

F. Allocation to Anchor Investors: Our Company in consultation with the BRLM have allocated 1281600 Equity Shares to 1 Anchor Investor (through 2 different schemes for which 2 applications were received) at the Anchor Investor Issue Price of Rs. 78/- per Equity Share in accordance with SEBI ICDR Regulations. This represents 59.91 % of the QIB Portion after adjusting Lot size:

The Board of Directors of the Company at its meeting held on February 15,2018 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 February 16,2018 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 the EMERGE 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 February 19,2018 subject to receipt of listing and trading approvals from NSE.

INVESTORS PLEASE NOTE

The details of the allotment made will be hosted on the website of the Registrar to the Issue at www.linkintime.co.in. All future correspondence 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:

LINK INTIME INDIA PRIVATE LIMITED
C-101,1st floor, 247 Park, L.B.S. Marg, Vikhroli (West), 400083,Maharashtra, India
Tel: +91 22 49186200 Fax: +91 22 49186195 Email: swpel.ipo@linkintime.co.in Website: www.linkintime.co.in
Investor Grievance Id: swpel.ipo@linkintime.co.in Contact Person: Shanti Gopalkrishnan SEBI Registration No: INR000004058