SCHEDULE - 15 - ILLUSTRATION EXPLAINING PROCEDURE OF ALLOTMENT - Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009

SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009 1 [Schedule XV [See regulation 50 (2), 106 and Schedule XI] ILLUSTRATION EXPLAINING PROCEDURE OF ALLOTMENT A. (1) Total no. of specified securities on offer@ ₹ 600 per share: 1 crore specified securities. (2) Specified securities on offer for retail individual investors category: 35 lakh specified securities. (3) The issue is over-subscribed 2.5 times whereas the retail individual investors category is oversubscribed 4 times. (4) Issuer decides to fix the minimum application / bid size as 20 specified securities (falling within the range of ₹ 10,000 - 15,000). Application can be made for a minimum of 20 specified securities and in multiples thereof. (5) Assume that a total of one lakh retail individual investors have applied in the issue, in varying number of bid lots i.e. between 1 16 bid lots, based on the maximum application size of upto ₹ 2,00,000. (6) Out of the one lakh investors, there are five retail individual investors A, B, C, D and E who have applied as follows: A has applied for 320 specified securities. B has applied for 220 specified securities. C has applied for 120 specified securities. D has applied for 60 specified securities and E has applied for 20 specified securities. (7) As per allotment procedure, the allotment to retail individual investors shall not be less than the minimum bid lot, subject to availability of shares, and the remaining available shares, if any, shall be allotted on a proportionate basis. The actual entitlement shall be as follows: Sr. No. Name of Investor Total Number of specified securities applied for Total number of specified securities eligible to be allotted 1 A 320 20 specified securities (i.e. the minimum bid lot) + 38 specified securities [{35,00,000 - (1,00,000 * 20)} / {140,00,000 - (1,00,000 * 20)}] * 300 (i.e. 320-20) 2 B 220 20 specified securities (i.e. the minimum bid lot) + 25 specified securities [{35,00,000 - (1,00,000 * 20) / {140,00,000 - (1,00,000 * 20)}] * 200 (i.e. 220-20) 3 C 120 20 specified securities (i.e. the minimum bid lot) + 13 specified securities [{35,00,000 - (1,00,000 * 20)} / {(140,00,000 - (1,00,000 * 20)}] * 100 (i.e. 120-20) 4 D 60 20 specified securities (i.e. the minimum bid lot) + 5 specified securities [{(35,00,000 - 1,00,000 * 20)} / {(140,00,000 - (1,00,000 * 20)}] * 40 (i.e. 60-20) 5 E 20 20 specified securities (i.e. the minimum bid lot) B. (1) Total no. of specified securities on offer @ ₹ 600 per share: 1 crore specified securities. (2) Specified securities on offer for retail individual investors category: 35 lakh specified securities. (3) The issue is over subscribed 7 times whereas the retail individual investors category is over subscribed 9.37 times. (4) Issuer decides to fix the minimum application / bid size as 20 specified securities (falling within the range of ₹ 10,000 - 15,000). Application can be made for a minimum of 20 specified securities and in multiples thereof. (5) Assume that a total of two lakh retail individual investors have applied in the issue, in varying number of bid lots i.e. between 1 16 bid lots, based on the maximum application size of upto ₹ 2,00,000, as per the table shown below. (6) As per allotment procedure, the allotment to retail individual investors shall not be less than the minimum bid lot, subject to availability of shares. (7) Since the total number of shares on offer to retail individual investors is 35,00,000 and the minimum bid lot is 20 shares, the maximum no. of investors who can be allotted this minimum bid lot will be 1,75,000. In other words, 1,75,000 retail applicants will get the minimum bid lot and the remaining 25,000 retail applicants will not get allotment. The details of allotment shall be as follows: Lots No. of Shares at each lot No. of retail Investors applying at each lot Total No. of Shares applied for at each lot No. of investors who shall receive minimum bid-lot (to be selected on lottery) A B C D=(B*C) E 1 20 10,000 2,00,000 8,750 =(1,75,000/2,00,000)*10,000 2 40 10,000 4,00,000 8,750 3 60 10,000 6,00,000 8,750 4 80 10,000 8,00,000 8,750 5 100 20,000 20,00,000 17,500 6 120 20,000 24,00,000 17,500 7 140 15,000 21,00,000 13,125 8 160 20,000 32,00,000 17,500 9 180 10,000 18,00,000 8,750 10 200 15,000 30,00,000 13,125 11 220 10,000 22,00,000 8,750 12 240 10,000 24,00,000 8,750 13 260 10,000 26,00,000 8,750 14 280 5,000 14,00,000 4,375 15 300 15,000 45,00,000 13,125 16 320 10,000 32,00,000 8,750 Total 2,00,000 328,00,000 1,75,000 Note: For the purpose of IDR, minimum application size shall be twenty thousand rupees.] ******** 1 Substituted for Schedule XV by SEBI (Issue of Capital and Disclosure Requirements) (Fourth Amendment) Regulations, 2012, w.e.f. 12.10.2012. Prior to substitution, Schedule XV read as under: SCHEDULE XV [See regulations 50(2), 106 and Schedule XI] ILLUSTRATION EXPLAINING PROCEDURE OF ALLOTMENT (1) Total no. of specified securities on offer@ ₹ 600 per share: 10 crore specified securities (2) Specified securities on offer for retail individual investors category: 2.5 crore specified securities (3) The issue is over subscribed 4 times whereas the retail individual investors category is over subscribed 8.25 times (4) Issuer decides to fix the minimum application / bid size as 9 specified securities (falling within the range of ₹ 5000 - 7000). Application can be made for a minimum of 9 specified securities and in multiples thereof. (5) Assume there are three retail individual investors A, B C. A has applied for 81 specified securities. B has applied for 72 specified securities and C has applied for 45 specified securities. As per allotment procedure, the allotment to retail individual investors shall be on proportionate basis i.e., at 1/8.25th of the total number of specified securities applied for. The actual entitlement shall be as follows: Sr. No. Name of Investor Total Number of specified securities applied for Total number of specified securities eligible to be allotted No. of specified securities applied for / 8.25) 1 A 81 81/8.25 = 9.82 specified securities rounded off to 10 specified securities. 2 B 72 72/8.25 = 8.73 specified securities rounded off to 9 specified securities (i.e. minimum application size). 3 C 45 45/8.25=5.45 specified securities. Application liable to be rejected. (as the entitlement is less than the minimum application size). However, the successful applicants out of the total applicants shall be determined by drawal of lots. Note : For the purpose of IDR, minimum application size shall be twenty thousand rupees.