Veto Switchgears IPO Basis of Allotment

Final Demand
A summary of the final demand as on the Bid/Offer Closing date at different bid price is as under:

There were no bids received at Rs. 49/-

The Basis of Allotment was finalised in consultation with NSE on December 10,2012. While finalizing the allotment, due to rounding off to the nearest multiple of minimum lot, 1,000 additional equity shares were allotted over and above the size of the issue. The synopsis of the basis (after technical rejections) is given below:

Allotment to the Market Maker Category
The Basis of Allotment to the Market Maker at the Issue Price of Rs.50/- per Equity Share was finalized in consultation with NSE. This category had 1 valid application for 8,34,000 Equity Shares against 8,34,000 Equity Shares reserved for this category resulting in subscription of 1.00 time.

Allotment to other categories
While rounding off the lot size of 3000 equity shares in QIB and HNI category same is done at a lower multiple of 3000 equity shares. The unallocated portion due to such rounding off in QIB and HNI category is added back to the retail category. Accordingly the basis of allotment for all the categories has been made as follows:

A) Allotment to Qualified Institutional Buyers (QIB) Category
The Basis of Allotment to the QIBs at the Issue Price of Rs.50/- per Equity Share was finalized in consultation with NSE. 3 (three) valid applications for 1098000 Equity Shares were received against 1041500 Equity Shares reserved for this category resulting in subscription of 1.05 times after rounding off, the allotment in QIB category is as below.

B) Allotment to Non Institutional Bidders
The Basis of Allotment to the NIBs at the Issue Price of Rs. 50/- per Equity Share was finalized in consultation with NSE. Overall 58 valid applications for 2562000 Equity Shares were received, against 1666400 Equity Shares reserved for this category resulting in subscription of 1.54 times. The categorywise details of basis of allotment is as follows:

C) Allotment to Retail Individual Bidders (Including ASBA Applications)
The Basis of Allotment to the Retail Individual Bidders, who have bid at Cut-off Price or at the Issue Price of Rs.50/- per Equity Share, was finalized on a proportionate basis in consultation with NSE. Overall 964 valid applications for 2892000 Equity Shares were received, against 1458100 Equity Shares reserved for this category resulting in subscription of 1.98 times. Un-allotted portions of QIB and NIB due to rounding off to the extent of 91900 equity shares have been added to the retail category for allotment. The details of equity shares allotted in Retail category are as under:

*un-allocated portions of QIB and NIB.

The Board of Directors of the Company in its' meeting held on December 11,2012 has taken on record the Basis of Allotment of Equity Shares as approved by The National Stock Exchange of India (Designated Stock Exchange) and has allotted the Equity Shares to various successful applicants and, has also authorized corporate action for the allotment of equity shares to successful bidders.

The Allotment advice and/or notices have been dispatched to the address of the allottees as registered with the depositories. Further the instructions to the SCSBs have been dispatched/mailed on December 11,2012. In case the same is not received within ten days, investors may contact the Registrar at the address given below.

Commencement of Trading: The Equity Shares Allotted to successful applicants has been credited on December 12,2012 to the beneficiary accounts subject to validation of the account details with the depositories concerned. The equity shares of the Company will be listed and admitted for trading on NSE-Emerge platform with effect from December 13,2012.

Investors please note: The details of the allotment made has been hosted on the website of the Registrar to the Issue, Bigshare Services Private Limited at Website: http://www.bigshareonline.com