BASIS OF ALLOTMENT
Sirca Paints India Ltd.
Basis of Allotment

(This is only an advertisement for Informalinn purpose. This is not a Prospectus announcement and does not constitute an invitation or offer to acquire, purchase or subscribe for securities. Not for publication or distribution, directly or indirectly outside India.)

SIRCA PAINTS INDIA LIMITED
(CIN-U24219DL2006PLC145092)

Our Company was originally incorporated at New Delhi as' Sircolor Wood Coatings Private Limited' on 19th January, 2006 under the provisions of the Companies Act 1956. Thereafter, the Name of the Company was changed to "Sirca Paints India Private Limited" vide fresh certificate of incorporation dated 3rd May, 2017 issued by the Registrar of Companies, Delhi. Consequently, the name of the Company was changed to "Sirca paints India Limited" vide fresh certificate of incorporation dated 17th January, 2018 issued by the Registrar of Companies. Delhi. For further details of incorporation, change of name and registered office of our Company, please refer to chapter titled "General Information" and "Our History Corporate Structure" beginning on pages 52 and page 156 respectively of the Prospectus.

Registered Office: 504, NDM-II, Netaji Subhash Place Wazirpur, Pitampura New Delhi-110034, Delhi, India Tel No.: +91 11 42083083, +91 11 47533213; Email: admin@sircapaints.com; Website: www.sircapaints.com ;
Contact Person; Mr. Chahat Mahajan, Company Secretary and Compliance Officer

PROMOTERS OF OUR COMPANY: MR. SANJAY AGARWAL, MR. APOORV AGARWAL & MR. GURJIT SINGH BAINS

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFER CONSISTING OF FRESH ISSUE OF48,69,600 EQUITY SHARES OF FACE VALUE OF RS 10/- EACH FULLY PAID FOR CASH AT A PRICE OF RS. 160/- PER EQUITY SHARE (THE "ISSUE PRICE") (INCLUDING A SHARE PREMIUM OF RS.150 PER EQUITY SHARE ) AGGREGATING RS 7791.36 LAKHS (THE "ISSUE")  OF WHICH 2,44,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS 160/- PER EQUITY SHARE, AGGREGATING RS.390.40 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E ISSUE OF 46,25,600 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 160/- PER EQUITY SHARE, AGGREGATING RS. 7400.96 LAKHS IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.65% and 25.32% RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COM PANY.

Risks to Investors:

I. As on date of the Prospectus, the average cost of acquisition per Equity Share by our Promoters viz. Mr. Sanjay Agarwal is Rs 0.96/-, Mr. Apoorv Agarwal is 0.33/-. And Mr. Gurjit Singh Bains is Rs 0.89/- respectively

II. This being the first public Issue of our Company, there has been no formal market for the Equity Shares. The face value of the Equity Shares is Rs. 10 each. The Floor Price was l5.10 times the face value and the Cap Price was 16.00 times the face value. The Issue Price (determined and justified by our Company in consultation with the BRLM as stated in "Basis for Issue Price" on page 98 of the Prospectus should not be taken to be indicative of the market price of the Equity Shares after the Equity Shares are listed. No assurance can be given regarding an active or sustained trading in the Equity Shares or regarding the price at which the Equity Shares will be traded after listing. 
All Investors except Anchor Investors have participated in this Issue through ASBA process. For details In this regards, specific attention is invited to chapter "Issue Procedure" on page261 of the Prospectus.

THE FACE VALUE OF EQUITY SHARES IS RS. 10/- EACH
THE ISSUE PRICE IS RS. 160/- AND IS 16.00 TIMES THE FACE VALUE OF THE EQUITY SHARES
ISSUE OPENED ON: WEDNESDAY, MAY 16, 2018 AND CLDSED ON: TUESDAY MAY 22, 2018
*THE ANCHOR INVESTOR BID/ISSUE PERIOD WAS TUESDAY, MAY15, 2018

In terms of Rule 19(2) (b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended (the "SCRR") the Issue is being made for at least 25% of the post- Issue paid-up Equity Share capital of our Company wherein 49.69% of the Net Issue was available for allocation on a proportionate basis to QIBs. provided that our Company, in consultation with the BRLM allocated upto 59.62% of the QIB Portion to Anchor Investors on a discretionary basis after adjusting lot size. One-third of the Anchor Investor Portion was reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under- subscription in the Anchor Investor Portion, the remaining Equity Shares was added to the QIB Portion. 
5% of the QIB Portion (excluding the Anchor Investor Portion) was available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB portion (excluding Anchor Investor Portion) was available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Issue Price, in the event the aggregate demand from Mutual Funds is less than as specified above, the balance Equity Shares available for Allotment in the Mutual Fund Portion will be added to the QIB Portion and allocated proportionately to the QIB Bidders (other than Anchor Investors) in proportion to their Bids. Further 15.12% of The Net Issue was available for allocation on a proportionate basis to Non institutional Bidders and 35.19% of the Net Issue was available for allocation on a proportionate basis to Retail individual Bidders, subject to valid Bids being received at or above the Issue Price. For further details, please refer to the chapter titled "Issue Procedure' on page 261 of Prospectus.

The Equity Shares of our Company issued through the Prospectus are proposed to be listed on the EMERGE Platform of National Stock Exchange of India Limited ('NSE EMERGE') in terms of the Chapter XB of the-SEBI (ICDR) Regulations, 2009 as amended from time to time. Our Company has received an approval letter dated 6th April, 2018 from NSE EMERGE for using its name in the issue document for listing of our shares on the EMERGE Platform of National Stock Exchange of India Limited. For the purpose of this issue, EMERGE Platform of the National Stock Exchange of India Limited shall be the Designated Stock Exchange.

SUBSCRIPTION DETAILS

The Issue has received 18,873 applications for 3,84,91,200 Equity shares (Before Technical Rejections. Multiple Rejections, bids not banked and invalid duplicate bids) including Market Maker Application of 2,44,000 Equity Shares. 867 applications of aggregating 12,40,000 Equity Shares were not banked and 25 applications of aggregating 20,000 Equity Shares were found invalid duplicate bids. The Issue was subscribed to the extent of 10.64 times(excluding Anchor Investor Portion and after removing multiple and duplicate bids) as per the bid books of NSE. After considering the technical rejections cases, the issue was subscribed 10.59 times. The details of application received (Before Technical Rejection and Multiple Rejections but after bids not banked and invalid duplicate bids)

Category No. of
Applications
Number of
Equity Shares
SUBSCRIPTION
Market Makers 1 2,44,000 1.00
Retail Individual Investors 17773 1,42,18,400 8.73
Non Institutional Investors 205 2,16,18,400 30.92
Qualified Institutional Buyer (Excluding Anchor Investors) 2 11,50,400 1.24
Anchor Investors 3 21,88,800 1 60
TOTAL 17984 3,94,20,000 8.10

The details of applications rejected by the Registrar on technical grounds are detailed below:

Category No. of 
Applications
Number of
Equity Shares
Market Makers Nil Nil
Retail Individual Investors 196 1,56,800
Non Institutional Investors 6 23,200
TOTAL 202 1,80,000

Details of the Valid Applications Received (After technical Rejections):

Category No. of
Applications
Number of
Equity Shares
Subscription
Market Makers 1 2,44,000 1.00
Retail individual Investors 17577 1,40,61,600 8.64
Non Institutional Investors 199 2,15,95,200 30.89
Qualified institution Buyers (Excluding Anchor Investors) 2 11,50,400 1.24
Anchor investors 3 21,88,800 1.60
TOTAL 17782 3,92,40,000 8.06

Final Demand

Sr No Bid
Price
No of Equity
Shares Bid for
% to
total
Cumulative
total
% of 
Cumulative total
1. 151.00 16,000 0.04% 16,000 0.04%
2. 152.00 1600 0.00% 17,600 0.05%
3 153.00 800 0.00% 18,400 0.05%
4. 154.00 - - 18,400 0.05%
5. 155.00 4000 0.01% 22,400 0.06%
6. 156.00 - - 22,400 0.06%
7. 157.00 - - 22,400 0.06%
8. 158.00 1600 0.00% 24,000 0.06%
9. 159.00 1600 0.00% 25,600 0.07%
10. 160.00 3,35,20,800 87.09% 3,35,46,400 87.16%
11. Cut-Off 49,44,800 12.85% 3,84,91,200 100%
  Total 3,84,91,200 100.00    

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange-EMERGE Platform of the National Stock Exchange of India Limiled on May 25, 2018.

A. Allocation to Market Maker (After Technical Rejections and Multiple Rejections) :The Basis of Allotment to the Market Maker, at the issue price of Rs.160/- per Equity Share, was finalized In consultation with National Stock Exchange of India Limited. The category was subscribed by 1.00 times.The total number of shares allotted in tins category is 2,44.000 Equity shares in full out of reserved portion of 2,44,000 Equity Shares.

B Allocation to Retail Individual Investors (Alter Technical Rejections and Multiple Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs.160/- per Equity Share, was finalized in consultation witn National Stock Exchange of India Limited. The category was subscribed by 8.64 times. Total number of shares allotted in this category is 16,28,000 Equity Shares. The category wise basis of allotment is as under:

No. of Shares
Applied for
(Category
wise)
No of
Applications
received
% to
total
Total No
Equity Shares
applied
% to
total
Proportionate
Shares
Available
Allocation
per Applicant
(Before
Rounding Off)
Allocation
per Applicant
(After
Rounding Off)
Ratio of
Allottees
to the
Applicants
Total No. of 
Equity Shares
allotted
Surplus/ (Deficit)]
800 17577 100.00 1,40,61,600 100 16,28,000 92.62 800 11:95 16,28,000 -

C. Allocation to Non Institutional Investor (After Technical Rejection and Multiple Rejections): The Basis of Allotment to Non Institutional Investors, at the issue price of Rs 160/- per equity Share, was finalized in consultation with National Stock Exchange of India Limited.
The category was subscribed by 30 89 times, Total number of shares allotted in this category is 6.99,200 Equity Shares. The category wise basis of allotment is as under:

No. of Shares
Applied for
(Category
wise)
No of
Applications
received
%
to total
Total No of
Equity Shares
applied in
this Category
% to
total
Proportionate
Shares
Available
Allocation
per Applicant
(Before
Rounding Off)
Allocation
per Applicant
(After
Rounding Off)
Ratio of
Allottees
to
Applicant
Total No. of
Equity
Shares
allocated/
allotted
No of
Shares
Surplus/ 
(Deficit)
1,600 35 17.59 56,000 0.26 1,813 51.80 800 2:35 1,600 213
2,400 15 7.54 36,000 0.17 1,166 77.73 800 1:15 800 366
3,200 13 6.53 41,600 0.19 1,347 103.62 800 2:13 1,600 (253)
4,000 5 2.51 20,000 0.09 648 129.60 800 1:5 800 (152)
4,800 5 2.51 24,000 0.11 777 155.40 800 1:5 800 (23)
5,600 14 7.04 78,400 0.36 2,538 181.29 800 3:14 2,400 138
6,400 8 4.02 51,200 0.24 1,658 207.25 800 1:4 1,600 58
7,200 4 2.01 28,800 0.13 932 233.00 800 1:4 800 132
8,000 5 2.51 40,000 0.19 1,295 259.00 800 2:5 1,600 (305)
8,800 2 1.01 17,600 0.08 570 285.00 800 1:2 800 (230)
9,600 1 0.50 9,600 0.04 311 311.00 800 1:1 800 (489)
10,400 1 0.50 10,400 0.05 337 337.00 800 1:1 800 (463)
12,000 3 1.51 36,000 0.17 1,166 388.67 800 1:3 800 366
12,800 2 1.01 25,600 0.12 829 414.50 800 1:2 800 29
13,600 1 0.50 13,600 0.06 440 440.00 800 1:1 800 (360)
14,400 1 0.50 14,400 0.07 456 466.00 800 1:1 800 (334)
15,200 1 0.50 15,200 0.07 492 492.00 800 1:1 800 (308)
16,000 4 2.01 64,000 0.30 2.072 518.00 800 3:4 2,400 (328)
16,800 1 0.50 16,800 0.08 644 544.00 800 1:1 800 (256)
17,600 1 0.50 17,600 0.08 570 570.00 800 1:1 800 (230)
18,400 2 1.01 36,800 0.17 1.191 595.50 800 1:2 800 391
20,000 2 1.01 40,000 0.19 1.295 647.50 800 1:1 1,600 (305)
20,800 1 0.50 20,800 0.10 673 673.00 800 1:1 800 (127)
21,600 1 0.50 21,600 0.10 699 699.00 800 1:1 800 (101)
22,400 1 0.50 22,400 0.10 725 725.00 800 1:1 800 (75)
24,000 4 2.01 96,000 0.44 3,103 777.00 800 1:1 3,200 (92)
24,800 2 1.01 49,600 0.23 1.606 803.00 800 1:1 1,600 6
25,600 1 0.50 25,600 0.12 329 829.00 800 1:1 800 29
26,400 1 0.50 26,400 0.12 955 855.00 800 1:1 800 55
29,600 1 0.50 29,600 0.14 953 958.00 800 1:1 800 158
31,200 1 0.50 31,200 0.14 1.010 1,010.00 800 1:1 800 210
32,000 3 1.51 96,000 0.44 3.103 1,036.00 800 1:1 2,400 708
36,000 1 0.50 36,000 0.17 1.166 1,166.00 800 1:1 800 366
36,800 1 0.50 36,800 0.17 1.191 1,191.00 800 1:1 800 391
37,600 2 1.01 75,200 0.35 2.455 1,217.50 800 1:1 1,600 835
800 1:2 800 (800)
40,000 1 0.50 40,000 0.19 1,295 1,295.00 1,600 1:1 1,600 (305)
40,800 1 0.50 40,800 0.19 1,321 1,321 00 1,600 1:1 1,600 (279)
41,600 1 0.50 41,600 0.19 1,347 1,347.00 1,600 1:1 1,600 (253)
56,000 1 0.50 56,000 0.26 1,813 1,813.00 1,600 1:1 1,600 213
60,800 1 0.50 60,800 0.28 1,969 1,969.00 1,600 1:1 1,600 369
62,400 5 2.51 3,12,000 1.44 10,102 2,020.40 1,600 1:1 8,000 2,102
800 3:5 2,400 (2,400)
63,200 1 0.50 63,200 0.29 2,046 2,046.00 2,400 1:1 2,400 (354)
64,000 1 0.50 64,000 0.30 2,072 2,072.00 2,400 1:1 2,400 (328)
64,800 1 0.50 64,800 0.30 2,098 2,098.00 2,400 1:1 2,400 (302)
65,600 1 0.50 65,600 0.30 2,124 2,124.00 2,400 1:1 2,400 (276)
66,400 1 0.50 66,400 0.31 2,150 2,150.00 2,400 1:1 2,400 (250)
67,200 1 0.50 67,200 0.31 2,176 2,176.00 2,400 1:1 2,400 (224)
68,000 1 0.50 68,000 0.31 2,202 2,202.00 2,400 1:1 2,400 (198)
68,800 1 0.50 68,800 0.32 2,228 2,228.00 2,400 1:1 2,400 (172)
72,800 1 0.50 72,800 0.34 2,357 2,357.00 2,400 1:1 2,400 (43)
74,400 1 0.50 74,400 0.34 2,409 2,409.00 2,400 1:1 2,400 9
77,600 3 1.51 2,32,800 1.08 7,538 2,512. 67 2,400 1:1 7,200 338
80,000 1 0.50 80,000 0.37 2,590 2,590.00 2,400 1:1 2,400 190
84,000 1 0.50 84,000 0.39 2,720 2,720.00 2,400 1:1 2,400 320
90,400 1 0.50 90,400 0.42 2,927 2,927.00 2,400 1:1 3,200 (273)
94,400 1 0.50 94,400 0.44 3,056 3,056.00 3,200 1:1 3,200 (144)
96,000 1 0.50 96,000 0.44 3,108 3,108.00 3,200 1:1 3,200 (92)
1,08,000 1 0.50 1,08,000 0.50 3,497 3,497.00 3,200 1:1 3,200 297
1,24,800 1 0.50 1,24,800 0.58 4,041 4,041.00 4,000 1:1 4,000 41
1,28,800 1 0.50 1,28,800 0.60 4,170 4,170.00 4,000 1:1 4,000 170
1,56,000 1 0.50 1,56,000 0.72 5,051 5,051.00 4,800 1:1 4,800 251
2,40,000 1 0.50 2,40,000 1.11 7,771 7,771.00 8,000 1:1 8,000 (229)
2,49,600 1 0.50 2,49,600 1.16 8,081 8,081.00 8,000 1:1 8,000 81
2,81,600 1 0.50 2,81,600 1.30 9,118 9,118.00 8,800 1:1 8,000 318
3,12,000 1 0.50 3,12,000 1.44 10,102 10,102.00 10,400 1:1 10,400 (298)
3,76,000 1 0.50 3,76,000 1.74 12,174 12,174.00 12,000 1:1 12,000 174
4,05,600 1 0.50 4,05,600 1.88 13,132 13,132.00 12,800 1:1 12,800 332
4,71,200 1 0.50 4,71,200 2.18 15,256 15,256.00 15,200 1:1 15,200 56
5,00,000 1 0.50 5,00,000 2.32 16,189 16,189.00 16,000 1:1 16,000 189
6,24,800 4 2.01 24,99,200 11.57 80,918 20,229.50 20,000 1:1 80,000 918
800 1:4 800 (800)
8,00,000 1 0.50 8,00,000 3.70 25,902 25,902.00 25,600 1:1 25,600 302
9,36,800 2 1.01 18,73,600 8.68 60,663 30,331.50 30,400 1:1 60,800 (137)
12,49,600 2 1.01 24,99,200 11.57 80,918 40,459.00 40,000 1:1 80,000 918
800 1:2 800 (800)
12,80,000 1 0.50 12,80,000 5.93 41,443 41,443.00 49,800 1:1 40,800 643
15,62,400 2 1.01 31,24,800 14.47 1,01,173 50,586.50 50,400 1:1 1,00,800 373
30,00,000 1 0.50 30,00,000 13.89 97,133 97,133.00 96,800 1:1 96,800 333
TOTAL 199 100 2,15,95,200 100 00 6,99,200       6,99,200 0

D. Allocation to Qualified Institutional Investor (Excluding Anchor Investors and After Technical Rejection and multiple rejections)
Allotment to QIBs, who have bid at the Issue Price of 160/- per Equity Share, has been done on a proportionate basis in consultation with the NSE. This category has been subscribed to the extent of 1.24 times of  Net QIB portion. As per the SEBI Regulations, Mutual Funds were to be allotted 5% of the Equity Shares of Net QIB portion available i.e. 46,400 Equity Shares, however no application from Mutual Funds has been received and accordingly 46,400 equity shares has been spilled over to other QIBs and 9,28,000 Equity Shares were allotted to QIBs to 2 applicants against total application of 11,50,400 Equity Shares.

The category-wise details of the Basis of Allotment are as under:

Category Fls/Banks MF's ICs NBFC AIF Fll Others Total
QIB - - - 2,42,400 - 6,85,600 - 9,28,000

E. Allocation to Anchor Investors
Our Company in consultation with the BRLM have allocated 13,70,400 Equity Shares to 3 Anchor Investors at the Anchor Investor issue Price of Rs. 160/- per Equity Share in accordance with SEBIICDR Regulations. This represents 59.62% of the QIB Portion after adjusting Lot size:

Category Fls/Banks MF's ICs VCs AIF Fll FPC Total
Anchor - -   3,37,600 10,32,800 - - 13,70,400

The Board of Directors of the Company at its meeting held on May 26, 2018 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. National Stock Exchange of India Limited and authorized corporate action for allotment of shares in dematerialized form to various successful applicants. 
The Allotment cum refund advice and/or notices will be dispatched to the address of the Applicants as registered with the depositories. Further, the instructions to SCSBs will be issued on or before May 28, 2018 for unblocking of funds.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. In case the same is not received within prescribed time. Investors may contact the registrar to the issue at the address given below. The Company is taking steps to get the Equity Shares admitted for trading on theEMERGE Platform of the National Stock Exchange of India Limited within six working days from the date of the closure of the Issue. The trading is proposed to commence on or before May 30, 2018 subject to receipt of listing and trading approvals from NSE.

INVESTORS PLEASE NOTE

The details of the allotment made will he hosted on the website of the Registrar to the Issue at www.karisma.karvy.com  All future correpondenc in this regard may kindly be addressed to the Registrar quoting full name of the First / Sole applicant, serial number of the Application Form, number of shares applied for and Bank Branch where the application had been lodged and payment details at the address of the Registrar given below:

KARVY COMPUTERSHARE PRIVATE LIMITED
Karvy Selenium Tower B, Plot 31-32, Gachibowli. Financial District, Nanakramguda. Hyderabad 500 032
Tel: +91 40 6716 2222 Fax: + 91 40 2343 1551 Websile: www.karisma.karvy.com Email: sircapaints.ipo@karvy.com
Contact Person: Mr. M Murali Krishna

Date:  May 28, 2016
Place: Delhi
For Sirca Paints India Limited
On behalf of the Board of Directors
sd/-
Sanjay Agarwal
Managing Director

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES OR LISTING OR THE BUSINESS PROSPECTS OF SIRCA PAINTS INDIA LIMITED.