Suryachakra IPO Basis of Allotment

Suryachakra Power Corporation Limited

(The Company was originally incorporated as Suryachakra Power Corporation Limited on February 28,1995 with registration no. 01-19554, in Hyderabad, Andhra Pradesh under the Companies Act, 1956 and obtained certificate of commencement of business on March 16,1995. The Company was converted into a private limited company with effect from August 9,2000. Pursuant to this, the name of the Company was changed to Suryachakra Power Corporation Private Limited, The Company was re-converted into a public limited company with effect from September 8,2005 in terms of
Section 31 (1)/44 of the Companies Act, 1956. Pursuant to this, the name of the Company was changed to Suryachakra Power Corporation Limited. With effect from December 20,1997 the registered office of the Company was shifted from 3-6-203/B, III floor, Behind Minerva Coffee Shop Himayathnagar, Hyderabad-500 029 to 3-6-725,1st Floor, Street No.11, Himayathnagar, Hyderabad 500 029 and with effect from July 01,2005, theregisteredo ffice of the Company was shifted to the present address.)
Regd. Office: 8-2-293/82, Plot No. 1115, Road No. 54, Jubilee Hills, Hyderabad 500 033
Tel:+91-40- 2355 0597/98, Fax:+91-40-2354 1339.
E-mail: ipd@suryachakra.com Website: www.suryachakra.in

BASIS OF ALLOCATION

PUBLIC ISSUE OF 3,40,00,000 EQUITY SHARES OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 20/- PER EQUITY SHARE (INCLUDING SHARE PREMIUM OF RS. 10/-PER EQUITY SHARE) AGGREGATING TO RS 6800 LACS (REFERRED TO AS 'THE ISSUE'). THE ISSUE COMPRISED ARESERVATION OF 4,00,000 EQUTY SHARES FOR SUBSCRIPTION BY EMPLOYEES AND THE NET OFFER TO THE PUBLIC OF 3,36,00,000 EQUITY SHARES OF RS.10/- EACH. THE ISSUE WOULD CONSTITUTE 44.37% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY. THE NET ISSUE TO THE PUBJ.IC CONSTITUTES 43,85% OF THE FULLY DILUTED POST ISSUE CAPITAL OF SURYACHAKRA POWER CORPORATION LIMITED. ('COMPANY' OR 'ISSUER').
THE FACE VALUE PER EQUITY SHARE IS RS.10/-. THE ISSUE PRICE PER EQUITY SHARE IS RS. 20/-AND IT IS 2 TIMES THE FACE VALUE.
The Issue made through the 100% Book Building Process wherein at least 50% of the net Issue to the public shall be allocated on a proportionate basis to Qualified Institutional Buyers ('QIBs') 5% of the portion available for allocation to QIBs shall be allocated proportionately to mutual funds. The remainder shall be available for allotment on a proportionate basis to QIBs and Mutual Funds, subject to valid bids being received from them at or above the Issue Price, Further, not less than 15% of the net Issue to public shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the net Issue to public shall be available for allocation on a proportionate basis to Retail Bidders, subject to valid bids being received at or above the Issue Price.
The Issue received 29,935 applications for 6,61,46,321 equity shares resulting in 1.945 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional Investor, Retail Individual Investor and Employee categories are as under: (Before technical rejections)

Final Demand
A sample of the final demand at different bid prices is as under:

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited ('BSE') on 12 July, 2007.

A. Allocation to Employees (After Technical Rejections)
The Basis of Allocation to the Employees, who have bid at cut-off or at and above the Issue Price of Rs.20 per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 0.9968 tjmes. Hence FULL and FIRM allotments have been made against all valid applications. The total number of shares allotted in this category is 398700 Equity Shares to 14 successful applicants. The unsubscribed portion of 1300 equity shares has been added to Retail category.

B. Allocation to Retail Individual Investors (After Technical Rejections)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at and above the Issue Price of Rs.20 per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 2.8063 times. The total number of shares allotted In this category is 15622000 Equity Shares to 22581 successful applicants. The category-wise details of the Basis of Allocation (Sample) are as under:

C. Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to this category, who have bid at cut-off or at and above the Issue Price of Rs.20 per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 0.2373 times. Hence FULL and FIRM allotments have been made against all valid applications. The total number of shares allotted in this category is 1179300 Equity Shares to 20 successful applicants. The unsubscribed portion of 3660700 equity shares has been added to Retail category.

D. Allocation to QIBs
Allocation to QIBs has been done on a proportionate basis in consultation with BSE. As per the SEBI guidelines, Mutual Funds were Initially allotted 5% of the quantum of shares available i.e., 8,40,000 equity shares and otherQIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares i.e., 1,59,60,000 equity shares on proportionate basis.

The Board of Directors of the company at It's Meeting held at Hyderabad on 12th July, 2007 has approved the basis of allocation of shares and has allotted the shares to various successful applicants.
The dispatch of CAN-cum-Refund Orders and ECS/RTGS/NEFT/Direct Credit Intimation has been dispatched to the same address of the investors as registered with the depositories on July 14.2007. The Company has filed the listing application with the Bombay Stock Exchange Limited on June 16.2007.
The CAN-cum-Refund Orders and ECS/RTGS/NEFT/Direct Credit Intimation and notices (where applicable) have been dispatched 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 over-printed with the Bank Mandate details as registered, if any, with the depositories. The shares allocated to 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 admitted for trading on the Bombay Stock Exchange Limited within seven working days from the date of approval of the basis of allocation.

INVESTORS PLEASE NOTE
This details of the allocation made would be hosted on the website of Registrars to the Issue. Karvy Computer share Private Limited at www.karvy.com or http://kcpl.karvy.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:

KarvyComputershare Private Limited
Unit: SURYACHAKRA
Plot No. 17 to 24, Vittalrao Nagar, Hitech City Road, Madhapur,
Hyderabad 500081, Fax: 040-23420814 Email: elnward.ris@karvy.com

TOLL FREE - HELPLINE NUMBER 1-800-3454001

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 SURYACHAKRA POWER CORPORATION LIMITED.