Udayshivakumar Infra IPO Basis of Allotment

	UDAYSHIVAKUMAR INFRA LIMITED

Udayshivakumar Infra Limited (the "Issuer" or "Company") was originally formed as a sole proprietorship under the name of 'M/s Udayshivakumar' at Davangere, Karnataka on August 22, 2002 and was converted into a partnership firm under the name of 'M/s. Udayshivakumar' pursuant to a deed of partnership dated March 31, 2014. The partnership firm was registered under the Indian Partnership Act, 1932 with the Registrar of Firms, Belgaum, Karnataka on April 4, 2014. Further, pursuant to the deed of partnership dated March 8, 2019, the deed of partnership dated March 31, 2014 was reconstituted by amending the existing clauses and inserting new clauses in the deed of partnership. Consequent to the aforesaid amendments a memorandum acknowledging receipt of documents for change in constitution of partnership was issued by Registrar of Firms, Belgaum, Karnataka on April 3, 2019. Further, pursuant to a resolution dated September 23, 2019 passed at the meeting of partners of M/s Udayshivakumar, the partnership firm was converted into a private limited company under the Companies Act, 2013 with the name 'Udayshivakumar Infra Private Limited' and a certificate of Incorporation dated December 23, 2019 was issued by the Central Registration Centre, Registrar of Companies. Subsequently, pursuant to resolutions passed by our Board of Directors in their meeting held on August 27, 2022 and by our Shareholders in the extra-ordinary general meeting held on August 30, 2022, our Company was converted into a public limited company, consequent to which its name was changed to 'Udayshivakumar Infra Limited', and a fresh certificate of incorporation dated September 16, 2022 consequent to such conversion was issued by the RoC, For further details, including in relation to changes in name and registered office of our Company, see "History and Certain Corporate Matters" on page 170.

Corporate Identification Number (CIN): U45309KA2019PLC130901
Registered office: 1924A/196, Banashankari Badavane, Near NH-4 Bypass, Davangere - 577 005, Karnataka, India.
Contact Person: Sanjeevani Shivaji Redekar, Company Secretary and Compliance Officer.
Tel No.: +91 819 229 7009 \| Email: cs@uskinfra.com \| Website: www.uskinfra.com.
OUR PROMOTER: UDAYSHIVAKUMAR

OUR COMPANY HAS FILED THE PROSPECTUS DATED MARCH 27, 2023 WITH THE ROC (THE "PROSPECTUS") AND THE EQUITY SHARES ARE PROPOSED TO BE USTED ON THE BSE UMITED ("BSE") AND NATIONAL STOCK EXCHANGE OF INDIA LIMITED ("NSE"), AND THE TRADING WILL COMMENCE ON APRIL 03, 2023

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFERING OF 1,88,57,142 EQUITY SHARES OF FACE VALUE OF Rs. 10/- EACH ("EQUITY SHARES") OF OUR COMPANY FOR CASH AT A PRICE OF Rs. 35/- PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs. 25/- PER EQUITY SHARE) ("ISSUE PRICE") AGGREGATING TO Rs. 6.600 LAKHS ("ISSUE"). THE ISSUE SHALL CONSTITUTE 34.06% OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.

ISSUE PRICE: Rs. 35/- PER EQUITY SHARE OF FACE VALUE OF Rs. 10/- EACH.
THE ISSUE PRICE IS 3.5 TIMES THE FACE VALUE OF THE EQUITY SHARES

RISKS TO INVESTORS

1)	RISK FACTORS ASSOCIATED WITH OUR COMPANY
	a)	Our business is primarily dependent on projects undertaken or awarded in the state of Karnataka in India, by the Karnataka State Government, the local authorities/ municipal bodies in the state of Karnataka and other entities funded by the Government of India or the Karnataka State Government. We generate our entire revenue from our projects which have been set-up in the State of Karnataka.

The table below sets forth the breakdown of our revenue from Contracts.

Sr. No.					Particulars				Six month period ended September 30, 2022		Fiscal 2022					Fiscal 2021			Fiscal 2020
									% of total revenue received during the FY		% of total revenue received during the FY					% of total revenue received during the FY			% of total revenue received during the FY
1					local authorities/ municipal bodies in the state of Karnataka				74.98		79.26					81.26			90.24
2					Karnataka stats government				6.26		9.02					7.33			4.13
3					Central Government				18.76		11.72					11.41			5.63
					Total				100.00		100.00					100.00			100.00
	a)		Our business is primarily dependent on projects undertaken or awarded in the state of Karnataka in India, by the Karnataka State Government, the local authorities/ municipal bodies in the state of Karnataka and other entities funded by the Government of India or the Karnataka State Government. We generate our entire revenue from our projects which have been set-up in the State of Karnataka.
	b)		Our Company largely depends on the knowledge and experience of our Promoter, Mr. Udayshivakumar for our growth. The loss of his services may have a material adverse effect on our business, financial condition and results of operations.
	c)		Out of total eight directors except for two directors, none of the Directors of our Company have been directors on the board of any listed company in the past and therefore do not have an experience of functioning as a director on the board of a listed company.
	d)		Our business is primarily dependent upon the projects in India undertaken or awarded by governmental authorities and other entities funded by the Government of India or Karnataka state government which exposes us to the risks of delayed payments.
	e)		We derive a significant portion of our revenues from a limited number of clients.
			A break up of the revenue earned from our top five and top ten customers during the six month period ended September 30, 2022 and the fiscal years ended March 31, 2022, March 31, 2021 and March 31, 2020 has been provided below:
Sr. No.					Particulars		Six month period ended September 30, 2022			Fiscal 2022					Fiscal 2021			Fiscal 2020
							% of revenue earned			% of revenue earned					% of revenue earned			% of revenue earned
1					Top five customers		64.39			62.78					66.26			73.54
2					Top ten customers		86.13			81.51					87.08			83.99
			The loss of any significant clients may have an adverse effect on our business, financial condition, results of operations, and prospects,
	f)		We may not be able to collect trade receivables arise due to the change in tax structure due to the implementation of GST in the place of service tax, due from our clients, in a timely manner, or at all, which may adversely affect our business, financial condition, results of operations and prospects. The percentage of GST component to be recovered from our clients during the six month period ended September 30, 2022 and the Financial Years ended March 31, 2022, March 31, 2021 and March 31, 2020 to the total revenue of our Company has been provided below:
Period/ Financial Year ended						Amount of GST to be Recovered from our Government clients (Rs. In lakhs)								percentage of GST component to the revenue from operations of our Company (In %)
September 30, 2022						4,261.06								39.95
March 31, 2022						4,595.13								24.75
March 31, 2021						4,263.05								20.26
March 31, 2020						3,431.13								17.72
		g)		Infrastructure projects are typically awarded to us on satisfaction of prescribed pre-qualification criteria and following a competitive bidding process. Our business and our financial condition may be adversely affected if new infrastructure projects are not awarded to us or if contracts awarded to us are prematurely terminated.
		h)		Our Order Book may not be representative of our future results and our actual income may be significantly less than the estimates reflected in our Order Book, which could adversely affect our business, financial condition, results of operations and prospects.
		i)		Our projects are exposed to various implementation and other risks, including risks of time and cost overruns, and uncertainties, which may adversely affect our business, financial condition, results of operations, and prospects.
2)		The weighted average cost of acquisition per all Equity Shares acquired in the last three years, 18 months and one year was Nil, as during the last 3 years since except Transfer of Equity Shares (as gift) by our Promoter, Udayshivakumar to Promoter group members, no Equity Shares has been acquired by our Promoter or Promoter group members.
3)		Handled Issue Data
Name of BRLM								Total Issues				Issues Closed Below IPO Pricing on Listing Date
Saffron Capital Advisors Private Limited								1				-
Total								1				-
		The BRLM associated with the Issue have handled 1 (one) public issue in the Fiscal 2023, Fiscal 2022, Fiscal 2021 and Fiscal 2020, out of which Nil issues closed below the Issue price on the listing date.
4)		Select financial ratios:
Particulars													At Floor Price				At Cap Price
Market Capitalisation to Revenue from operations													1.00				1.04
EV/EBITDA													7.94				8.24
Price to earnings ratio													9.91				10.51
	The Issue Price, multiples and ratios may not be indicative of the market price of the Equity Shares on listing or thereafter.
Notes to select financial ratio mentioned in Risks to Investors 4 above:
1.	Market Capitalization to Revenue from operations ratio has been calculated as Market Capitalization at Floor Price/Cap Price divided by Revenue from operations of the Company for Financial year ended March 31, 2022, as restated. Market Capitalization at Floor Price/Cap Price has been calculated by multiplying the Floor Price/ Cap Price with expected total outstanding number of equity shares of our Company after completion of the Issue calculated respectively at Floor Price/Cap Price.
2.	Market Capitalization to price earnings ratio has been calculated as Market Capitalization at Floor Price/Cap Price (explained above) divided by price earnings ratio. Price earning ratio has been calculated by dividing the Floor Price/Cap Price by diluted EPS of the Company for Financial year ended March 31,2022.
3.	EV/EBITDA has been calculated as Enterprise Value of the Company divided by EBITDA of the Company for Financial year ended March 31, 2022, as restated. Enterprise Value of the Company is a sum of Market Capitalization at Floor Price/Cap Price (explained above) plus Net Debt of the Company as at March 31, 2022. EBITDA means Earnings before interest, taxes, depreciation and amortisation expense.

BID/ISSUE PERIOD	OPENED ON: MONDAY, MARCH 20, 2023
	CLOSED ON: THRUSDAY, MARCH 23, 2023
	ANCHOR INVESTOR BIDDING DATE WAS: FRIDAY, MARCH 17, 2023

This was an Issue in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR"), read with Regulation 31 of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the "SEBI ICDR Regulations"). The Issue was made through the Book Building Process in terms of Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 10% of the Issue was made available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs") (the "QIB Portion"). Further, 5% of the QIB Portion was made available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion was made available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids having been received at or above the Issue Price. Further, not less than 30% of the Issue was made available for allocation on a proportionate basis to Non-Institutional Bidders ("Non-Institutional Portion") of which one-third of the Non-Institutional Portion was made available for allocation to Non-Institutional Bidders with an application size more than Rs. 2,00,000 and up to Rs. 10,00,000 and two-thirds of the Non-Institutional Portion was made available for allocation to Bidders with an application size of more than Rs. 10,00,000, further the unsubscribed portion in either of these two sub-categories was allocated to applicants in the other sub-category of Non-Institutional Bidders, and not less than 60% of the Issue was made available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids having been received from them at or above the Issue Price. All Bidders (except Anchor Investors) were required to mandatorily utilise the Application Supported by Blocked Amount ("ASBA") process providing details of their respective bank account (including UPI ID for UPI Bidders using UPI Mechanism), in which the corresponding Bid Amounts was blocked by the SCSBs or the Sponsor Bank, as applicable. Anchor Investors were not permitted to participate in the Issue through the ASBA process. For details, see "Issue Procedure" on page 319 of this Prospectus.

The bidding for Anchor Investor opened and closed on Friday, March 17, 2023. The company received Nil applications from Anchor Investors.

The Issue received 3,63,426 applications for 61,42,88,712 Equity Shares (prior to technical rejections) resulting in 32.58 times subscription. The details of the applications received in the Issue from various categories are as under: (before technical rejections):

Sr. No	Category	No. of Applications received	No. of Equity Shares	No. of Equity Shares (reserved as per prospectus)	No. of times Subscribed	Amount (Rs.)
1	Qualified Institutional Buyers	19	7,56,40,012	18,85,713	40.11	2,64,74,00,420.00
2	Non-Institutional Investors - more than Rs. 2 lakhs and upto Rs.10 lakhs	20,304	12,59,03,476	18,85,714	66.77	4,40,65,05,244.00
3	Non-Institutional Investors more than Rs. 10 lakhs	7,748	24,30,74,896	37,71,429	64.45	8,50,69,22,864.00
4	Retail Individual Investors	3,35,355	16,96,70,328	1,13,14,286	14.99	5,93,68,04,692.00
	Total	3,63,426	61,42,88,712	1,88,57,142	32.58	21,49,76,33,220.00

Final Demand

A summary of the final demand as per BSE and NSE as on the Bid/Issue Closing Date at different Bid prices is as under:

Sr. No	Bid Price	No. of Equity Shares	% of Total	Cumulative Total	Cumulative % of Total
1	33	16,64,920	0.23	16,64,920	0.23
2	34	9,15,920	0.13	25,80,840	0.36
3	35	50,32,92,048	69.46	50,58,72,888	69.81
4	9999	21,87,22,980	30.19	72,45,95,868	100.00
Total		72,45,95,868	100.00

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE on March 29, 2023.

A.	Allotment to Retail Individual Investors (After Technical Rejections) (including ASBA Applications) The Basis of Allotment to the Retail Individual Investors, who have bid at the Cut-Off Price or at the Issue Price of Rs. 35/- per Equity Share, was finalized in consultation with the BSE. This category has been subscribed to the extent of 14.73 limes. The total number of Equity Shares Allotted in Retail Portion is 1,13,14,286 Equity Shares to 26,435 successful Retail Individual Investors. The category-wise details of the Basis of Allotment are as under:

Sr. No	Category	No. of Applications received	% to total	Total No. of Equity Shares applied in each category)	% to Total	No. of Equity Shares allotted per Investor	Ratio	Total No. of Equity Shares allotted
1	428	313456	94.96	134159168	80.50	428	39:487	10743656
2	856	7701	2.33	6592056	3.96	428	187:2334	264076
3	1284	2456	0.74	3153504	1.89	428	15:187	84316
4	1712	1094	0.33	1872928	1.12	428	44:547	37664
5	2140	1166	0.35	2495240	1.50	428	80:1003	39804
6	2568	490	0.15	1258320	0.75	428	39:490	16692
7	2996	559	0.17	1674764	1.00	428	45:559	19260
8	3424	490	0.15	1677760	1.01	428	39:490	16692
9	3852	215	0.07	828180	0.50	428	17:215	7276
10	4280	519	0.16	2221320	1.33	428	14:173	17976
11	4708	100	0.03	470800	0.28	428	2:25	3424
12	5136	113	0.03	580368	0.35	428	9:113	3852
13	5564	1740	0.53	9681360	5.81	428	56:701	59492
	Additional 1 share allotted from Sr. No 2 to 13					1	2:25	106
Total		330099	100.00	166665768	100.00			11314286

Please Note: 1 additional Equity Share has been allocated to Serial No. 2 to 13 in the ratio of 2:25.

B.	Allotment to Non-Institutional Investors more than Rs. 2 lakhs and upto Rs. 10 lakhs (After Technical Rejections) (including ASBA Applications) The Basis of Allotment to the Non- Institutional Investors (upto Rs. 10 lakhs) who have bid at the Issue Price of Rs. 35/- per Equity Share, was finalized in consultation with the BSE. This category has been subscribed to the extent of 65.89 times (before spill over). The total number of Equity Shares Allotted in this category is 18,85,714 Equity Shares (post spill-over, if any) to 314 successful Non- Institutional Investor. The category-wise details of the Basis of Allotment are as under:

Sr. No	Category	No. of Applications received	% to total	Total No. of Equity Shares applied In each category)	% to Total	No. of Equity Shares allotted per Investor	Ratio	Total No. of Equity Shares allotted
1	5992	19178	95.66	114914576	92.48	5992	83:5470	1743672
2	6420	298	1.49	1913160	1.54	5992	5:298	29960
3	6848	62	0.31	424576	0.34	5992	1:62	5992
4	7276	63	0.31	458388	0.37	5992	1:63	5992
5	7704	28	0.14	215712	0.17	5992	1:28	5992
6	8132	25	0.12	203300	0.16	5992	1:25	5992
7	8560	54	0.27	462240	0.37	5992	1:54	5992
8	8988	29	0.14	260652	0.21	5992	1:29	5992
9	9416	6	0.03	56496	0.05	5992	0	0
10	9844	3	0.01	29532	0.02	5992	0	0
11	10272	12	0.06	123264	0.10	5992	0	0
12	10700	9	0.04	96300	0.08	5992	0	0
13	11128	6	0.03	66768	0.05	5992	0	0
14	11556	11	0.05	127116	0.10	5992	0	0
15	11984	39	0.19	467376	0.38	5992	1:39	5992
16	12412	8	0.04	99296	0.08	5992	0	0
17	12840	21	0.10	269640	0.22	5992	1:21	5992
18	13268	6	0.03	79608	0.06	5992	0	0
19	13696	5	0.02	68480	0.06	5992	0	0
20	14124	29	0.14	409596	0.33	5992	1:29	5992
21	14552	12	0.06	174624	0.14	5992	1:12	5992
22	14980	4	0.02	59920	0.05	5992	0	0
23	15408	2	0.01	30816	0.02	5992	0	0
24	15836	2	0.01	31672	0.03	5992	0	0
25	16264	1	0.00	16264	0.01	5992	0	0
26	17120	8	0.04	136960	0.11	5992	0	0
27	17548	2	0.01	35096	0.03	5992	0	0
28	17976	14	0.07	251664	0.20	5992	1:14	5992
29	18404	3	0.01	55212	0.04	5992	0	0
30	18832	3	0.01	56496	0.05	5992	0	0
31	19260	5	0.02	96300	0.08	5992	0	0
32	19688	1	0.00	19688	0.02	5992	0	0
33	20116	5	0.02	100580	0.08	5992	0	0
34	20544	7	0.03	143808	0.12	5992	1:7	5992
35	20972	2	0.01	41944	0.03	5992	0	0
36	21400	12	0.06	256800	0.21	5992	1:12	5992
37	21828	1	0.00	21828	0.02	5992	0	0
38	22256	2	0.01	44512	0.04	5992	0	0
39	23968	3	0.01	71904	0.06	5992	0	0
40	24824	4	0.02	99296	0.08	5992	0	0
41	25252	1	0.00	25252	0.02	5992	0	0
42	25680	9	0.04	231120	0.19	5992	1:9	5992
43	26108	4	0.02	104432	0.08	5992	0	0
44	26536	1	0.00	26536	0.02	5992	0	0
45	27392	2	0.01	54784	0.04	5992	0	0
46	27820	6	0.03	166920	0.13	5992	1:6	5992
47	28248	41	0.20	1158168	0.93	5992	3:41	17976
	All allottees wil get 183 shares from sr.no 2 to 47					183	1:1	4209
	All allottees wil get 1 shares from sr.no 2 to 47					1	17:23	106
	Total	20049	100.00	124258672	100.00			1885714

C.	Allotment to Non-Institutional Investors more than Rs. 10 lakhs (After Technical Rejections) (Including ASBA Applications) The Basis of Allotment to the Nan-Institutional Investors (upto Rs. 10 lakhs) who have bid at the Issue Price of Rs. 35/- per Equity Share, was finalized in consultation with the BSE. This category has been subscribed to the extent of 63.79 times (before spill over). The total number of Equity Shares Allotted in this category is 37,71,429 Equity Shares (post spill-over, if any) to 625 successful Non-Institutional Investor. The category-wise details of the Basis of Allotment are as under: (Sample)

Sr. No	Category	No. of Applications received	% to total	Total No. of Equity Shares applied in each category)	% to Total	No. of Equity Shares allotted per investor	Ratio	Total No. of Equity Shares allotted
1	28676	6928	90.3613	19866732B	82.5799	5992	65:866	3115840
2	29104	146	1.9043	4249184	1.7663	5992	11:146	65912
3	29532	68	0.8869	2008176	0.8347	5992	5:68	29960
4	29960	70	0.913	2097200	0.8717	5992	3:35	35952
5	30388	12	0.1565	364656	0.1516	5992	1:12	5992
6	30816	20	0.2609	616320	0.2562	5992	1:10	11984
7	31244	12	0.1565	374928	0.1558	5992	1:12	5992
8	31672	43	0.5608	1361896	0.5661	5992	4:43	23968
9	32100	9	0.1174	288900	0.1201	5992	1:9	5992
10	32528	23	0.3	748144	0.311	5992	2:23	11984
11	32956	30	0.3913	988680	0.411	5992	1:10	17976
12	34240	14	0.1826	479360	0.1993	5992	1:14	5992
13	34668	11	0.1435	381348	0.1585	5992	1:11	5992
14	35952	8	0.1043	287616	0.1196	5992	1:8	5992
15	36380	5	0.0652	181900	0.0756	5992	1:5	5992
16	38520	9	0.1174	346680	0.1441	5992	1:9	5992
17	39376	9	0.1174	354384	0.1473	5992	1:9	5992
18	42800	24	0.313	1027200	0.427	5992	1:8	17976
19	43228	6	0.0783	259368	0.1078	5992	1:6	5992
20	46224	5	0.0652	231120	0.0961	5992	1:5	5992
21	53928	5	0.0652	269640	0.1121	5992	1:5	5992
22	57352	18	0.2348	1032336	0.4291	5992	1:6	17976
23	59920	10	0.1304	599200	0.2491	5992	1:5	11984
24	64200	3	0.0391	192600	0.0801	5992	1:3	5992
25	74900	4	0.0522	299600	0.1245	5992	1:4	5992
26	81320	3	0.0391	243960	0.1014	5992	1:3	5992
27	85600	10	0.1304	856000	0.3558	5992	1:5	11984
28	86028	4	0.0522	344112	0.143	5992	1:4	5992
29	101864	2	0.0261	203728	0.0847	5992	1:2	5992
30	106144	7	0.0913	743008	0.3088	5992	2:7	11984
31	107000	2	0.0261	214000	0.089	5992	1:2	5992
32	114704	2	0.0261	229408	0.0954	5992	1:2	5992
33	119412	5	0.0652	597060	0.2482	5992	2:5	11984
34	128400	6	0.0783	770400	0.3202	5992	1:3	11984
35	141240	2	0.0261	282480	0.1174	5992	1:2	5992
36	143380	3	0.0391	430140	0.1788	5992	1:3	5992
37	146804	1	0.013	146804	0.061	5992	1:1	5992
36	158360	1	0.013	158360	0.0658	5992	1:1	5992
39	162640	1	0.013	162640	0.0676	5992	1:1	5992
40	327848	1	0.013	327848	0.1363	5992	1:1	5992
41	342400	1	0.013	342400	0.1423	5992	1:1	5992
42	346680	2	0.0261	693360	0.2882	5992	1:1	11984
43	414304	1	0.013	414304	0.1722	6494	1:1	6494
44	422864	1	0.013	422864	0.1758	6630	1:1	6630
45	430140	3	0.0391	1290420	0.5364	6743	1:1	20230
46	676668	1	0.013	676668	0.2813	10609	1:1	10609
47	770400	1	0.013	770400	0.3202	12076	1:1	12076
48	916776	1	0.013	916776	0.3811	14373	1:1	14373
	All allottees wil get 6 shares from sr.no 1 to 125					6	1:1	3750
	All allottees wil get 1 shares from sr.no 1 to 125					1	203:625	203
Total		7667	100	240575004	100	7667	100	3771429

D.	Allotment to QIBs (After Technical Rejections) Allotment to QIBs, who have Bid at the Issue Price of Rs. 35/- per Equity Share or above, has been done on a proportionate basis in consultation with the BSE. This category has been subscribed to the extent of 40.11 times of QIB Portion. As per the SEBI Regulations, Mutual Funds were Allotted 5% of the Equity Shares of QIB Portion available i.e. 94,285 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were Allotted the remaining available Equity Shares i.e. 17,91,428 Equity Shares on a proportionate basis. However, no Mutual Funds have participated in the Issue. The total number of Equity Shares Allotted in the QIB Portion is 18,85,713 Equity Shares, which were allotted to 19 successful QIB Investors. The category-wise details of the Basis of Allotment are as under:

Category	Banks	AIF	NBFC-SI	FPIs	VC	Total
Allotment	2,13,402	5,23,178	2,49,295	8,99,838	-	18,85,713

The board of directors of our Company on March 29, 2023 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has allotted the Equity Shares to various successful Bidders. The Allotment Advice-cum-Intimations and/ or notices will be dispatched to the address of the investors as registered with the depositories. Further, the instructions to the Self Certified Syndicate Banks for unblocking of funds, transfer to Public Issue Account have been issued on March 29, 2023. The Equity Shares Allotted to the successful Allottees have been uploaded on March 29, 2023 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the Listing application with BSE and NSE on March 31, 2023. The Company has received listing and trading approval from BSE and NSE and the trading will commence on or about April 03, 2023.

Note: All capitalised terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus.

The details of the allotment made will be hosted on the website of the Registrar to the Issue, MAS Services Limited at : www.masserv.com

All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the first/ sole Bidder, Bid cum Application Form number. Bidder DP ID, Client ID, PAN, date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares applied for, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and a copy of the Acknowledgment Slip received from the Designated Intermediary at the address given below:

	MAS Services Limited
	T-34, 2nd Floor, Okhla Industrial Area, Phase - II, New Delhi -110 020, Delhi, India;
	Telephone: +91 112 638 7281/83, 4132 0335 \| Facsimile: +91 112 638 7384
	Email ID: info@masserv.com \| Website: www.masserv.com \| Investor grievance: investor@masserv.com

	For Udayshivakumar Infra Limited
	On behalf of the Board of Directors
	Sd/-
Place: Davangere, Karnataka	Sanjeevani Shivaji Redekar
Date: April 01, 2023	Company Secretary and Compliance Officer

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF UDAYSHIVAKUMAR INFRA LIMITED.

UDAYSHIVAKUMAR INFRA LIMITED has filed the Prospectus with RoC on March 27, 2023, and thereafter with SEBI and Stock Exchanges. The Prospectus shall be available on the website of SEBI at www.sebi.gov.in, the websites of the Stock Exchanges i.e. BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively, and is available on the website of the BRLM, i.e. Saffron Capital Advisors Private Limited. Investors should note that an investment in equity shares involves a high degree of risk, and for details relating to such risks, please see the section entitled "Risk Factors" on page 29 of the Prospectus. Potential investors should not rely on the DRHP filed with SEBI for making any investment decision.

The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws in the United States, and unless so registered, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. Accordingly, the Equity Shares are being offered and sold outside the United States in offshore transactions in reliance on Regulation S and the applicable laws of each jurisdictions where such offers and sales are made. There will be no public offering of the Equity Shares in the United States.

Udayshivakumar Infra IPO Basis of Allotment FAQs

Check the basis of allotment document above to know about how the shares are allocated in Udayshivakumar Infra IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).

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

Visit the Udayshivakumar Infra IPO allotment status page to check the number of shares allocated to your application.

Udayshivakumar Infra IPO Basis of Allotment

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