SHREE ASHTAVINAYAK CINE VISION LIMITED

(incorporated as "Shree Ashtavinayak cine vision private limited" on October 23,2001 at Mumbai under the Companies Act, 1956 and converted into public limited company as "Shree Ashtavinayak Cine Vision Limited" on June 25, 2004)
Regd Office : A-204/205 VIP Plaza, 2^nd Floor, Block-B, Veera Industrial Estate, Off Andheri Link Road, Andheri (W), Mumbai 400053. Tel: +91-22-67029630, Fax: +91-22-67029634.
Website: www.ashtavinayak.com Email: [email protected]

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 37,28,000 EQUITY SHARES OF RS.10/- EACH FOR CASH AT A PRICE OF RS. 160/- PER EQUITY SHARE AGGREGATING RS. 5964.80 LAKHS (REFERRED TO AS "THE ISSUE"). INCLUDING PROMOTERS CONTRIBUTION OF 4, 28,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH AT A PRICE OF RS.160/- FOR CASH AT A PREMIUM AGGREGATING TO RS. 684.80 LAKHS AND NET ISSUE TO PUBLIC OF 33,00,000 EQUITY SHARES OF FACE VALUE OF RS.10/- EACH AT A PRICE OF 160 AT A PREMIUM AGGREGATING RS 5280 LAKHS (HEREIN AFTER REFERRED TO AS THE "NET ISSUE TO THE PUBLIC") THE ISSUE WILL CONSTITUTE 32.89% OF THE FULLY DILUTED POST ISSUE CAPITAL OF THE COMPANY.

THE FACE VALUE PER EQUITY SHARE IS RS.10/- EACH FOR CASH AT A PRICE OF RS.160/- EACH AND THE ISSUE PRICE IS 16 TIMES OF THE FACE VALUE.

The Issue is being made through 100% Book Building Process, where at least 50% of the Net Issue to the Public shall be allocated on proportionate basis to Qualified Institutional Buyers (5% of the QIB portion shall be available for allocation on proportionate basis for Mutual Funds only). If atleast 50% of the Net Issue to the public cannot be allocated to QIB Bidders, than the entire application money will be refunded. Further not less than 15% of the Net Issue to the Public shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Net Issue to the Public shall be available for allocation to Retail Individual Investors on proportionate basis, subject to the valid bid received at or above the issue price.

The Issue received 13119 applications for 18658560 equity shares resulting in 5.6541 times subscription. The details of the applications received In the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Investor 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 Allotment was finalized in consultation with Bombay Stock Exchange Limited ("BSE") on 2nd January, 2007

A. Allocation to Retail Investors
The category (net of technical /multiple rejections) was over subscribed 3.6413 times. The total number of shares allotted in this category is 1155008 Equity Shares to 10365 allottees ie 81.435% of valid applicants. The category-wise details of the Basis of Allotment are as under:

B. Allocation to Non Institutional Investors
The category was subscribed (net of technical /multiple rejections) 8.5448 times. The total number of shares allotted in this category is 494992 Equity Shares to 99 allottees. The details of basis of allotment of some of the categories are as under: (Sample)

C. Allocation to QlBs
As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available (82500) and other QIB's and unsatisfied demands of Mutual Funds were allotted the remaining available shares(1567500) on proportionate basis. Total number of shares allotted in this category is 1650000 Equity Shares to 16 allottes i.e. 100% of valid applicants. Mutual Funds were allotted 13.11% and other QIB applicants were allotted 86.89% of the shares allotted in the QIB category.

The Committee of Directors for IPO of the company at it's Meeting held at Vapi, Gujarat on January 2, 2007 has approved the basis of allocation of shares and allotted the shares to various successful applicants.

The physical refund warrants, intimation regarding refunds through electronic modes (ECS, RTGS, NEFT or Direct Credit) and allotment advice have been dispatched to the address of the investors as registered with the depositories on January 4, 2007.

The Equity Shares allocated to successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned on January 4, 2007.

The Listing Application has been filed with the Bombay Stock Exchange Limited and National Stock Exchange of India Limited on January 4, 2007. and the Company is taking steps to complete all formalities for listing and commencement of trading of Equity Shares on the Bombay Stock Exchange Limited and National Stock Exchange of India Limited within seven working days from the date ofAllotment.

INVESTORS PLEASE NOTE
This details of the allocation made would be 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 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 Limited
C-13, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West), Mumbai 400078,
Fax: +91-22-2596 0329 Tel. No.: (9122) 2596 0320 - 28
Email: [email protected] and 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 SHREE ASHTAVINAYAK CINE VISION LIMITED