Zenith Birla FPO Basis of Allotment

Registered Office: 1st Floor, Dalamal House, Nariman Point, Mumbai - 400 021.
Tel: +91-22-2282 1122 Fax: +91-22-2285 5743.
Corporate Office: Vedant Commercial Complex, 2nd Floor, Building S-2, 1st Pokhran Road, Vartak Nagar, Opp Kores India, Thane (West)- 400 606 Tel: +91-22-6793 3000; Fax: +91-22-6793 3111
Contact Person : Rajiv Gandhi, Company Secretary and Compliance Officer
E-mail: zenith.po@zenithsteelpipes.com; Website: www.zenithsteelpipes.com

PUBLIC ISSUE OF 2,38,18,182 EQUITY SHARES OF FACE VALUE Rs.10/- EACH OF ZENITH BIRLA (INDIA) LIMITED (HEREINAFTER REFERRED TO AS THE 'COMPANY' OR 'ISSUER') AT A PREMIUM OF Rs. 45/- PER SHARE (i.e. AT A PRICE OF Rs. 55/- PER SHARE) FOR CASH AGGREGATING TO Rs.13100 LACS (HEREINAFTER REFERRED TO AS THE 'ISSUE') COMPRISING OF PROMOTERS CONTRIBUTION OF 45,45,455 EQUITY SHARES OF FACE VALUE OF Rs.10/- EACH AT A PRICE OF Rs. 55/- FOR CASH AGGREGATING TO Rs. 2500 LACS (HEREINAFTER REFERRED TO AS THE 'PROMOTERS' CONTRIBUTION') INCLUDING 19,27,272 EQUITY SHARES ARE RESERVED FOR EMPLOYEES AND DIRECTORS; 19,27,272 EQUITY SHARES ARE RESERVED FOR EXISTING SHAREHOLDERS; 19,27,272 EQUITY SHARES ARE RESERVED FOR SHAREHOLDERS OF GROUP COMPANIES; 19,27,273 EQUITY SHARES ARE RESERVED FOR NRIs AND FIIs AND 19,27,273 EQUITY SHARES ARE RESERVED FOR BANKS/MUTUAL FUNDS/INDIAN FINANCIAL INSTITUTIONS. THE NET OFFER TO THE PUBLIC IS OF 96,36,365 EQUITY SHARES OF Rs.10/-EACH AT A PRICE OF Rs.55/-FOR CASH AGGREGATING TO Rs. 5300 LACS HEREINAFTER REFERRED TO AS THE 'NET ISSUE').

THE ISSUE PRICE OF Rs. 55/- PER SHARE IS 5.5 TIMES THE FACE VALUE

BASIS OF ALLOTMENT

The Board of Directors of Zenith Birla (India) Limited ('Company') wish to thank all the Investors for their response to the Public Issue. The basis of allotment has been finalized in consultation with the Bombay Stock Exchange Limited (BSE) on November 15, 2006 and the equity shares have been allotted as per details given below: Public Issue opened on Monday, October 16, 2006 and closed on Friday, October 20, 2006. The details of applications are as follows

Full and firm allotment has been made to Retail Investors, NRIs/FIIs, Employee/ Directors of the Issuer Company, Shareholders of the company, Shareholders of Group Companies and promoter contribution categories for all the valid applications. Allotments have been made on the proportionate basis in case of Resident Public - HNI Category, rounded off to the nearest integer subject to a minimum of 100 shares per allottee.

Basis of allotment of equity shares to the Resident Indian Public HNI Category is as follows:

The dispatch of refund orders and allotment letters has been completed as on November 17, 2006. The credit in respect of allotment in dematerialized form in Central Depository Services India Ltd. (CDSL) and National Securities Depository Ltd. (NSDL) to the valid beneficiary account has been completed as on November 17, 2006. The company has already made the listing application to the BSE and other formalities regarding listing of equity shares are in the process of completion.

IMPORTANT NOTE- Investors may please note that new equity shares of the company allotted under public issue shall have the same ISIN as the existing listed equity shares. Investors should note that though new equity shares will be credited to their Demat accounts, they can trade in the new equity shares only after ascertaining that trading approvals have been issued and notified by BSE.

All future correspondence in this regard may kindly be addressed to the Registrar to the Issue, whose address is furnished below, quoting full name of the first/sole applicant, application number, number of shares applied and Bank/branch where the application has been lodged.

For ZENITH BIRLA (INDIA) LIMITED
Sd/-
ARUN JAIN
Executive Director