BANG OVERSEAS LIMITED

(Our Company was incorporated as Bang Overseas Private Limited on June 1,1992 and was converted into a Public Limited Company on February 4, 2005.
Registered Office: Masjid Manor, II Floor, 16 Homi Modi Street, Fort, Mumbai: 400 023. Tel.: (022) 2204 3496; Fax: (022) 22810379; Website: www.banggroup.com.
Corporate Office: 144, Kewal Industrial Estate, 1st floor, Senapati Bapat Marg, Lower Parel (West), Mumbai- 400013, India. Tel.: 91-22-66607965; Fax: 91-22-66607970; E-mail: ipo@banggroup.com; Contact Person: Mr. Jaydas Dighe, Vice President (Finance) Compliance Officer

The Issue was being made through the 100% Book Building Process wherein at least 50% of the net Issue was to be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs") (including 5% of the QIB portion that would be specifically allotted to mutual funds), further, up to 15% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and up to 35% of the Net Issue shall be available for allocation on a proportionate basis to Retail Bidders, subject to valid bids being received at or above the Issue Price.

The Issue received 4780 applications for 3,966,170 equity shares resulting in 1.13 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 rejections)

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 Stock Exchange Limited ("BSE) on February 12, 2008.

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. 207/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 1.0221 times. The total number of shares allotted in this category is 100,000 Equity Shares to 29 successful applicants. The category-wise details of the Basis of Allocation (Sample) are as under

B. Allocation to Retail Individual Investors (After Technical Rejections)r
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs.207/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 1.040748 times. The total number of shares allotted in this category is 1190000 Equity Shares to 4612 successful applicants. The category-wise details of the Basis of Allocation are as unde

C. Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 207/- per Equity Share, was finalized in consultation with BSE. The category was under-subscribed 1.307294 times. The total number of shares allotted in this category is 510000 Equity Shares to 15 successful applicants. The category-wise details of the Basis of Allocation (sample) 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, there were 85,000 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 (1,700,000) on proportionate basis.

The Board of Directors of the company at its Meeting held at Mumbai on February 12,2008 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 14,2008. 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 14, 2008. The listing application have been filed with the BSE and the NSE on February 15, 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 Registrars to the Issue, Karvy Computershare Private Limited at http://kcpl.karvy.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 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:

^{Karvy Computershare Private Limited}
Unit: Bang Overseas
_{Plot.No. 17 to 24, Vithalrao Nagar, Hitech City Road, Madhapur, Hyderabad -500 081.}
Tel: 040 2343 1553 Fax: 040-23420814, Email: einward.ris@Karvy.com
Website: www.karvy.com

TOLL FREE - HELPLINE NUMBER: 1-800-3454001

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 BANG OVERSEAS LIMITED.