aries agro limited

(The Company was originally incorporated as "Aries Agro-Vet Industries Private Limited" on 27th November, 1969 under the Companies Act, 1956 with the Registrar ot Companies, Maharashtra and was converted into Public Limited Company under section 21 of the Companies Act, 1956 and the name was changed to "Aries Agro-Vet Industries Limited" on 30th December, 1994. The name of the Company was further changed to "Aries Agro Limited" and a fresh Certificate of incorporation was obtained on 27th October 2006 from the Registrar of Companies, Maharashtra, Mumbai. For details of changes in the Registered Office of theCompany, please refer to page no. 11 of this Red Herring Prospectus)
Registered & Corporate Office: Aries House, Plot No.24, Deonar, Govandi (East), Mumbai 400 043.
Tel No: +91 22 25564052/53 Fax No: +91 22 25564054/2550 2753
Contact Person/Compliance Officer: Mr. S. Ramamurthy, Chief Financial Officer,
E-mail: [email protected], Website: www.ariesagro.com

BASIS OF ALLOTMENT

The Issue was made through the 100% Book Building Process wherein up to 50% of the Issue size shall be allocated on a proportionate basis to Qualified Institutional Buyers (QIBs), out ot which 5% will be available for allocation on a proportionate basis to Mutual Funds. The remaining QIB portion shall be available for allotment on a proportionate basis to QIB bidders including Mutual Funds, subject to valid bids being received at or above the Issue Price. Further, not less than 15% of the Issue size would be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Issue size would be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid bids being received at or above the Issue Price.
The issue opened for subscribtion on December 14,2007 and closed on December 19,2007. The Issue received 29187 applications for 30627689 equity shares resulting in 6.81 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional investors and Retail Individual Investors 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 January 2,2008. A) Allocation to Retail Individual Investors (After Technical Rejections)
The Basis ol Allocation to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 130 per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 5.94 times. The total number of shares allotted in this category is 1575840 Equity Shares to 18024 successful applicants. The category-wise details of the Basis of Allocation (Sample) are as under:

B) Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to this category, who has bid at the Issue Price of Rs. 130 per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 5.73 times. The total number of shares allotted in this category is 675009 Equity Shares to 63 successful applicants. The category-wise details ol the Basis of Allocation (Sample) are as under:

C) Allocation to QIBs
Allocation to QIBs has been done on a proportionate basis in consultation with BSE. As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available i.e., 112500 equity shares and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares i.e., 2137500 equity shares on proportionate basis.

The Board of Directors of the company at it's Meeting held at Mumbai on January 02,2008 has approved the basis of allocation of shares and has allotted the shares to various successful applicants.
The CAN-cum-Refund Orders and ECS/RTGS/NEFT/Direct Credit Intimation and notices (wherever applicable) have been dispatched to the address of the investors as registered with the depositories. In case the same is not received within ten days, investors may contact the Registrar to the Issue, 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 the successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. The company is taking steps to get the equity shares admitted for trading on National Stock Exchange of India Limited and the Bombay Stock Exchange Limited within seven working days from the date of finalisation of the basis of allotment.

INVESTORS PLEASE NOTE
The details of the allocation made would be hosted on the website of Registrars to the Issue, Aarthi Consultants Private Limited at www.aarthiconsultants.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:

^{Aarthi Consultants Private Limited}
Unit: Aries Agro Limited
1-2-285,Domalguda,Hyderabad-500029,AndhraPradesh,India.Tel: +91-40-27634445/27642217,Fax: +91-40-27632184
E-mail: [email protected], Website: www.aarthiconsultants.com
^{SEBI Regn. No.: INR 000000379}

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 ARIES AGRO LIMITED.