Tulsi IPO Basis of Allotment

Tulsi Extrusions Limited

(Our Company was incorporated as Tulsi Extrusions Private Limited on September 16, 1994 and was converted into a Public Limited Company on June 5,1995)
Registered & Corporate Office: N-99, MIDC Area, Jalgaon 425003;
Tel.: 91 -257-2272732, 2212278; Fax: 91-257-2210052; (The registered office of our Company was changed from G-52, MIDC Area, Jalgaon, Maharashtra to present address with effect from July 21.1995)
Contact person: Mr. Sudarshan Taparia, Finance Controller & Compliance Officer; Email: ipo@tulsigroup.biz; Website: www.tulsigroup.biz

This Issue was made through a 100% Book Building Process wherein not more than 50% of the Net issue to Public shall be available for allocation on a proportionate basis to Qualified Institutional Buyers ('QIBs'). 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only and 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 Individual Bidders, subject to valid bids being received at or above the Issue Price.

The Issue received 10598 applications for 10441950 Equity Shares resulting in 1.83 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional, Retail Individual Investor and Employee categories are as under: (Before technical rejection)

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 StockExchange Limited (BSE) on February 15, 2008.
The final demand at different bid prices and allocation of shares in following four categories is as under:

A) Allocation to Employees (After Technical Rejections)

The Basis of Allocation to the Employees, who have bid at cut-off or at the Issue Price of Rs. 85/- per Equity Share was finalized in consultation with BSE. The category was over subscribed 1.140000 times. The total number of Equity Shares allotted in this category is 1,00,000 Equity Shares to 24 successful applicants. The category wise details of  the Basis of Allocation (sample) are as under:

B) Allocation to Retail Individual Investors (After Technical Rejections)
The Basis of Allocation to Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 85/- per Equity Share, was finalized in consultation with BSE.The category was over subscribed 2.271314 times.The total numberof Equity Shares allotted in this category is 1960002 Equity Shares to 8225 successful applicants. The category-wise details of Basis of Allocation are as under:

C) Allocation to Non-Institutional Investors (After technical rejections)
The Basis of Allocation to Non-Institutional Investors, who have bid at the Issue Price of Rs. 85/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 1.645804 times. The total number of Equity Shares allotted in this category is 839998 Equity Shares to 37 successful applicants. The category-wise details of Basis of Allocation are as under:

D.Allocation to QIBs
Allocation to QIBs has been done on a proportionate basis in consultation with BSE. As per the SEBI Guidelines, 2000 there were 1,40,000 equity shares reserved for Mutual Funds category. Since no applications were received from Mutual Funds, the spill over portion has been added to all other QIBs and other QIBs were allotted the remaining available shares (2800000) on proportionate basis;

The Board of Directors of the company at its Meeting held on February 16, 2008 at Jalgaon, Maharashtra has approved the basis of allocation of shares of the Issue and has allotted the shares to various successful applicants.

The CAN-cum-Refund Orders and allotment advice and notices have been dispatched to the address of the investors as registered with the depositories by February 19, 2008. 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 have been credited to their beneficiary accounts subject to validation of the account details with the depositories concerned by February 19, 2008. The listing application have been filed with the BSE and the NSE on February 19, 2008 and the company is taking steps to get the equity shares admitted for trading on the National Stock Exchange of India Limited and Bombay Stock Exchange Limited within seven working days from the date of approval of the basis of allocation.

Investors please note

These details of the allocation made would be hosted on the website of the Registrar to the Issue, Intime Spectrum Registry Limited at  www.intimespectrum.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 Syndicate and place where the bid was submitted and payment details at the address given below:

INTIME SPECTRUM REGISTRY LIMITED
C-l3 Pannalal Silk Mills Compound, LBS Marg, Bhandup West, Mumbai 400078.
Tel: 022-25% 0320 (9 lines), Fax: 022-2596 0329
E-mail: tulsiipo@intimespectrum.com. Website: www.intimespectrum.com
Contact person: Mr. Sachin Achar, Registration No.: INR00000376I

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON USTING OR THE BUSINESS PROSPECTS OF TULSI EXTRUSIONS LIMITED.