ABHISHEK MILLS LIMITED

(Originally incorporated as AbhishekCotspin Mills Limited on September 1,1993. Name of the Company was changed to Abhishek Mills Limited w.e.f. November 14,2005.)
Registered Office: Gat No. 148, Tamgaon, Kolhapur-Hupari Road, Taluka Karveer, District Kolhapur, Maharashtra, Telephone: + 91 231 2676191, 2676671 Fax: +91 231 2676194
Email:abhicots@vsnl.com; Website: www.abhishekmills.com
ComplianceOfficer:Mr.Ramesh KChandawarkar

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 41,00,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH OF ABHISHEK MILLS LIMITED (HEREINAFTER REFERRED TO AS THE 'COMPANY' OR 'ISSUER') FOR CASH AT A PREMIUM OF RS. 90/- PER EQUITY SHARE AGGREGATING RS. 4100 LACS INCLUDING 2,05,000 EQUITY SHARES OF RS. 10/- EACH AGGREGATING TO RS. 205 LACS RESERVED FOR EMPLOYEES OF THE COMPANY AND NET ISSUE TO PUBLIC OF 38,95,000 EQUITY SHARES OF RS. 10/- EACH AGGREGATING TO RS. 3,895 LACS. THE ISSUE WOULD CONSTITUTE 29.27 % OF THE POST ISSUE PAID-UP CAPITAL OF THE COMPANY
The Issue was made through 100% Book Building Process wherein upto 50% of the Net Issue was available for allocation on a proportionate basis to Qualified Institutional Buyers, out of which 5% was available for allocation on a proportionate basis to Mutual Funds only and the remainder of the QIB portion was available for allocation on proportionate basis to all Qualified institutional Buyers, Including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, minimum of 15% of the Net Issue was available for allocation on a proportionate basis to Non-Institutional Bidders and minimum of 35% of the Net issue was available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received from them at or above the Issue Price.
The issue received 1840 bids/applications for 50,70,720 equity shares resulting in 1.24 times subscription. The details of the valid bids/applications received in the issue from Retail Bidders, Non- Institutional Bidders, Qualified institutional Buyers and Eligible Employees are as under:

Final Demand
A summary of the final demand at various price levels as per the electronic book is given below:

The Basis of Allotment was finalized in consultation with the Bombay Stock Exchange Limited (BSE) on Monday, March 12,2007

A) Allocation to Retail Investors:
The Basis of Allocation to the Retail Investors, who have bid at cut-off or at and above the Issue price of Rs.100/- Equity Share, was finalized in consultation with BSE. The category was subscribed 0.244665 times. The total number of equity shares allotted in this category is 3,33,540 Equity Shares. The Unsubscribed portion of 10,29,710 equity Shares was allotted to Non-Institutional Category. The Category-wise details of the Basis of Allocation are as under: 

All the bidders/applicants in the Non-lnstitutional Category have been given firm allotment on proportionate basis.}

B. Allocation to Non-Institutional Investors:
The Basis of Allocation to the Non-Institutional Investors, who have bid at cut-of or at the Issue Price of Rs.100/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 3.8237 times. The total number of equity shares allotted in this category is 16,13,960 Equity Shares, which includes Original Offer of 5,84,250 Equity Shares, Spillover from Retail Category of 10,29,710 Equity Shares. A sample of category-wise details of the Basis of Allocation are as under:

All the applicants who have applied for 60 Equity Shares or more have been given firm allotment on proportionate basis
C) Allocation to Employees:
The Basis of Allocation to the Employee Category, who have bid at cut-off or at and above the Issue price of Rs.100/- Equity Share, was finalized in consultation with BSE. The category was subscribed 1.0007 times. The total number of equity shares allotted in this category is 2,05,000 Equity Shares. The Category-wise details of the Basis of Allocation are as under:

D. Allocation to QIBs:

The IPO Committee of the Board of Directors of the Company at it's Meeting held in Mumbai on Tuesday, March13,2007 has approved the Basis of Allocation and has allotted the equity shares to the successful bidders/applicants. The CAN-cum-Refund Orders have been dispatched on Tuesday, March 13,2007 to the address of the investors as registered with the depositories. In case the same is not received within 10 (ten) days, Investors may contact at the address given below. The Refund Orders have been printed with the Bank Mandate details as registered, if any, with the depositories. The Equity Shares allotted to successful applicants have been credited to their respective beneficiary accounts subject to validation of the account details with the depositories concerned. Abhishek Mills Limited is taking steps to get the Equity Shares admitted for trading on Bombay Stock Exchange Limited and National Stock Exchange Limited within seven working days from the date of approval of the Basis of Allocation.

INVESTORS MAY PLEASE NOTE
These details of the allocation / allotment made are being hosted on the website of Registrars to the issue, Intime Spectrum Registry Limited at www.intimespectrum.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 equity 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:

INTIME SPECTRUM REGISTRY UMITED
Unit: Abhishek Mills Limited
C-13, Pannalal Silk Mills Compound, LBS Marg, Bhandup (W), Mumbai -400 078
Tel: 91 22 2596 0320, Fax: 91 22 2596 0329.
Contact: Person: Mr. Sachin Achar
E-mail: aml-ipo@intimespectrum.com Website: www.intimespectrum.com

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 ABHISHEK MILLS UMITED.