Basis of Allotment

This is a public announcement for information purposes only and is not a prospectus announcement. This does not constitute an invitation or offer to acquire, purchase or subscribe for securities.
Not for release, publication or distribution directly or indirectly outside India.

Astron Paper & Board Mill Limited

Our Company was incorporated, as a public limited company on December 29, 2010 under the provisions of the Companies Act, 1956 as Astron Papers Board Mill Limited, in Gujarat vide certificate of incorporation issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli on December 29, 2010. Our Company also obtained the Certificate of Commencement of Business on February 3, 2011 from the Registrar of Companies, Gujarat, Dadra and Nagar Havelli. For details of changes in the name and the registered office of our Company, see the chapter titled "History and Certain Corporate Matters" beginning on page 165 of the Prospectus.

Registered Office & Corporate Office: D-702, Seventh Floor, Ganesh Meridian, Opposite:- High Court, S.G. Highway, Ahmedabad - 380060. Tel: + 91-79-40081221; Fax: + 91-79-40081220; Contact Person: Mr. Uttambhai Patel, Designation: Company Secretary and Compliance Officer; E-mail: cs@astronpaper.comWebsite: www.astronpaper.com
Corporate Identification Number U21090GJ2010PLC063428

PROMOTERS OF OUR COMPANY: MR. KIRIT G. PATEL, MR. RAMAKANT PATEL, MR KARSHANBH PATEL AND
ASIAN GRANITO INDIA LIMITED

BASIS OF ALLOTMENT

Our Company had filed the Prospectus with the Registrar of Companies, Ahmedabad and the Equity Shares are proposed to be listed on the BSE Limited ("BSE") and the National Stock Exchange of India Limited ("NSE") and the trading is expected to commence on or about December 29, 2017.

INITIAL PUBLIC OFFERING OF UP TO 1,40,00,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH (THE "EQUITY SHARES") OF ASTRON PAPER & BOARD MILL LIMITED ("OUR COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS 50 PER EQUITY SHARE (INCLUDING SHARE PREMIUM OF RS 40 PER EQUITY SHARE) (THE "ISSUE PRICE"), AGGREGATING UP TO RS 698.25 MILLION (THE "ISSUE"). THE ISSUE COMPRISES A NET ISSUE TO THE PUBLIC OF 1,33,00,000 EQUITY SHARES (THE "NET ISSUE") AND RESERVATION OF 7,00,000 EQUITY SHARES AGGREGATING UPTO RS 33.25 MILLION FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES NOT EXCEEDING 5% OF OUR POST-ISSUE PAID-UP EQUITY SHARES CAPITAL (THE "EMPLOYEE RESERVATION PORTION"). THE ISSUE WOULD CONSTITUTE 30.11% OF OUR POST-ISSUE PAID-UP EQUITY SHARE CAPITAL AND THE NET ISSUE TO THE PUBLIC WOULD CONSTITUE 28.60% OF OUR POST-ISSUE PAID-UP EQUFTY SHARE CAPITAL. OUR COMPANY, IN CONSULTATION WITH THE BOOK RUNNING LEAD MANAGER ("BRLM"), OFFERED A DISCOUNT OF RS 2.5 PER EQUITY SHARE (EQUIVALENT TO 5%) ON THE ISSUE PRICE TO ELIGIBLE EMPLOYEES ("EMPLOYEE DISCOUNT').

THE ISSUE PRICE: RS  50* PER EQUITY SHARE OF FACE VALUE OF RS 10 EACH
THE ISSUE PRICE IS 5.00 TIMES OF THE FACE VALUE
*A discount of Rs 2.5 per Equity Share on Issue Price has been offered to Eligible Employees

Risks to Investors:

i. The BRLM associated with the Issue has handled 56 SME public issues in the past three years out of which 2 issues closed below the issue price on listing date. 
ii. Net Asset Value of the Issuer as on March 31, 2017 is Rs 13.94 per Equity Share as against highest NAV in the peer group of Rs 174.77 per Equity Share as disclosed in the Prospectus. 
iii. Our Company had negative cash flow from our Operating activities, Investing activities, as well as Financing activities in the past years, For further details kindly refer Risk Factor No. 33 of chapter titled "Risk Factors" on page 17of the Prospectus. 
iv. Average cost of acquisition of Equity Shares for Promoters namely Mr. Kirit G. Patel, Mr. Ramakant Patel, Mr. Karshanbhai Patel and Asian Granite India Limited is Rs 4.24 per share, Rs 9.10 per share, Rs 2.77 per share, Rs 8.95 per share respectively and Issue Price at upper end of the Price Band is Rs 50 per share. 
v. Price Earning (P/E) Ratio based on the Diluted EPS for the year ended March 31, 2017 is 14.71 at the lower end of the Price Band and 16.34 at the higher end of the Price Band as compared to the average industry peer group P/E ratio of 22.89. 
vi. Weighted average return on net worth for the financial years ended on March 2017, 2016 and 2015 is 19.08%.

BID/ISSUE PROGRAMME: 
BID/ISSUE OPENED ON: DECEMBER 15, 2017 | BID/ISSUE CLOSED ON: DECEMBER 20, 2017

In terms of Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended (the "SCRR") the Issue has being made for at least 25% of the post-Issue paid-up Equity Share capital of our Company. The Issue has being made through the Book Building Process, in compliance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended the ("SEBI ICDR Regulations") wherein 10% of the Net Issue was allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs") (the "QIB Category"). Further, 5% of the QIB Category was available for allocation on a proportionate basis to Mutual Funds only and the remainder was available for allocation on a proportionate basis to QIBs including Mutual Funds, subject to valid Bids being received from them at or above the Issue Price. Further, not less than 55% of the Net Issue was available for allocation on a proportionate basis to Non-Institutional Investors and not less than 35% of the Net Issue was available for allocation to Retail Individual Investors, in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Issue Price. All Bidders shall participate in this Issue mandatorily through the Applications Supported by Blocked Amount ("ASBA") process by providing details of their respective bank accounts which will be blocked by SCSBs. For details, see "Issue Procedure" on page 266 of the Prospectus. 
The Issue received 3,37,59,86,040 applications for 1,40,00,000 Equity Shares as per the bid book resulting in 241.14 times subscription as disclosed in the Prospectus. The details of the applications received in the Issue from Retail Individual Bidders, Non-Institutional Bidders, QIBs and Employee reservation portion are as under (before technical rejections):

Sr. No Category No. of 
Applications
No. of 
Equity Shares
Equity Shares
Reserved 
#
No. of 
times Subscribed
Amount 
(In Rs.)
A Retail Individual Investors 11,14,705 35,41,03,680 46,55,000 76.07 17,710,395,940
B Non Institutional Investors 2,094 2,88,31,29,760 73,15,000 394.14 144,156,227,560
C Qualified Institutional Buyers 39 13,68,82,760 13,30,000 102.92 6,84,41,38,000
D Eligible Employees 1,859 18,69,840 7,00,000 2.67 8,89,24,020
  Total 11,18,697 3,37,59,86,040 1,40,00,000 241.14 1,68,79,96,85,520

# At the upper end of the price band; and for Eligible Employees adjusted for Employee Discount

Final Demand
A summary of the final demand as per the BSE and the NSE as on the Bid/Issue Closing Date at different Bid prices is as under:

Sr. No. Bid 
Price
No. of 
Equity Shares
% To 
Total
Cumulative 
Total
Cumulative %
of Total
1 45 1064000 0.03 1064000 0.03
2 46 232960 0.01 1296960 0.04
3 47 280560 0.01 1577520 0.05
4 48 681520 0.02 2259040 0.07
5 49 459200 0.01 2718240 0.08
6 50 3122873320 91.62 3125591560 91.70
  CUTOFF 282966040 8.30 3408557600 100.00
  TOTAL 3408557600      

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE on December 27,2017.

A. Allotment to Retail Individual Investors (After Technical Rejections) (including ASBA Applications) 
The Basis of Allotment to the Retail Individual Bidders, who have bid at cut-off or at the Issue Price of Rs 50.00 per Equity Share, was finalized in consultation with the BSE. This category has been subscribed to the extent of 74.37 times. The total number of Equity Shares Allotted in Retail Individual Bidders category is 46,55,000 Equity Shares to 16,625 successful applicants. The category-wise details of the Basis of Allotment are as under:

Category No. of
Applications
Received
% of 
Total
Total No. of
Equity Shares
applied
% to 
Total
No. of Equity
Shares Allotted 
per Applicant
Ratio Total No. of
Equity Shares
Allotted
280 1044651 95.77 292502280 84.49 280 5:328 4457880
560 23881 2.19 13373360 3.86 280 2:131 101920
840 6627 0.61 5566680 1.61 280 2:131 28280
1120 3508 0.32 3928960 1.13 280 2:131 15120
1400 3156 0.29 4418400 1.28 280 2:131 13440
1680 866 0.08 1454880 0.42 280 2:131 3640
1960 1858 0.17 3641680 1.05 280 2:131 7840
2240 706 0.06 1581440 0.46 280 2:131 3080
2520 328 0.03 826560 0.24 280 2:131 1400
2800 1165 0.11 3262000 0.94 280 2:131 5040
3080 226 0.02 696080 0.20 280 2:131 840
3360 200 0.02 672000 0.19 280 2:131 840
3640 239 0.02 869960 0.25 280 2:131 1120
3920 3416 0.31 13390720 3.87 280 2:131 14560
TOTAL 1090827 100.00 346185000 100.00     4655000

B. Allotment to Non Institutional Bidders (After Technical Rejections)

The Basis of Allotment to the Non-Institutional Bidders, who have bid at the Issue Price of Rs 50 per Equity Share or above, was finalized in consultation with the BSE. This category has been subscribed to the extent of 394.09 times. The total number of Equity Shares allotted in this category is 73,15,000 Equity Shares to 673 successful applicants. The category-wise details of the Basis of Allotment are as under

Category No. of
Applications
Received
% of 
Total
Total No.
of Equity
Shares applied
% to 
Total
No. of Equity
Shares Allotted
per Applicant
Ratio Total No.
of Equity
Shares Allotted
4200 681 33.20 2860200 0.10 280 1:27 7000
4480 82 4.00 367360 0.01 280 3:82 840
4760 29 1.41 138040 0.00 280 1:29 280
5040 43 2.10 216720 0.01 280 2:43 560
5320 11 0.54 58520 0.00 280 1:11 280
5600 61 2.97 341600 0.01 280 3:61 840
5880 21 1.02 123480 0.00 280 1:21 280
6160 26 1.27 160160 0.01 280 1:26 280
6440 11 0.54 70840 0.00 280 1:11 280
6720 5 0.24 33600 0.00 280 1:5 280
7000 9 0.44 63000 0.00 280 1:9 280
7280 3 0.15 21840 0.00 280 1:3 280
7560 4 0.20 30240 0.00 280 1:4 280
7840 23 1.12 180320 0.01 280 1:23 280
8120 12 0.59 97440 0.00 280 1:12 280
8400 27 1.32 226800 0.01 280 2:27 560
8680 5 0.24 43400 0.00 280 1:5 280
8960 8 0.39 71680 0.00 280 1:8 280
9240 4 0.20 36960 0.00 280 1:4 280
9520 3 0.15 28560 0.00 280 1:3 280
9800 63 3.07 617400 0.02 280 5:63 1400
10080 52 2.54 524160 0.02 280 5:52 1400
10360 9 0.44 93240 0.00 280 1:9 280
10640 1 0.05 10640 0.00 0 1:1 0
10920 4 0.20 43680 0.00 280 1:4 280
11200 25 1.22 280000 0.01 280 2:25 560
11480 2 0.10 22960 0.00 280 1:2 280
11760 7 0.34 82320 0.00 280 1:7 280
12040 3 0.15 36120 0.00 280 1:3 280
12320 2 0.10 24640 0.00 280 1:2 280
12600 4 0.20 50400 0.00 280 1:4 280
12880 3 0.15 38640 0.00 280 1:3 280
13160 2 0.10 26320 0.00 280 1:2 280
13440 2 0.10 26880 0.00 280 1:2 280
13720 1 0.05 13720 0.00 0 1:1 0
14000 21 1.02 294000 0.01 280 2:21 560
14280 7 0.34 99960 0.00 280 1:7 280
14560 1 0.05 14560 0.00 0 1:1 0
14840 1 0.05 14840 0.00 0 1:1 0
15120 4 0.20 60480 0.00 280 1:4 280
15400 3 0.15 46200 0.00 280 1:3 280
15680 3 0.15 47040 0.00 280 1:3 280
15960 9 0.44 143640 0.00 280 1:9 280
16240 4 0.20 64960 0.00 280 1:4 280
16520 3 0.15 49560 0.00 280 1:3 280
16800 5 0.24 84000 0.00 280 1:5 280
17920 2 0.10 35840 0.00 280 1:2 280
18200 3 0.15 54600 0.00 280 1:3 280
19040 2 0.10 38080 0.00 280 1:2 280
19320 1 0.05 19320 0.00 0 1:1 0
19600 11 0.54 215600 0.01 280 2:11 560
19880 30 1.46 596400 0.02 280 1:6 1400
20160 23 1.12 463680 0.02 280 4:23 1120
20440 5 0.24 102200 0.00 280 1:5 280
20720 3 0.15 62160 0.00 280 1:3 280
21000 5 0.24 105000 0.00 280 1:5 280
21560 2 0.10 43120 0.00 280 1:2 280
21840 1 0.05 21840 0.00 0 1:1 0
22400 4 0.20 89600 0.00 280 1:4 280
23240 2 0.10 46480 0.00 280 1:2 280
23520 1 0.05 23520 0.00 0 1:1 0
23800 1 0.05 23800 0.00 0 1:1 0
24080 1 0.05 24080 0.00 0 1:1 0
24360 1 0.05 24360 0.00 0 1:1 0
24640 1 0.05 24640 0.00 0 1:1 0
24920 1 0.05 24920 0.00 0 1:1 0

 

Category No. of
Applications
Received
% of 
Total
Total No.
of Equity
Shares applied
% to 
Total
No. of Equity
Shares Allotted
per Applicant
Ratio Total No.
of Equity
Shares Allotted
25200 2 0.10 50400 0.00 280 1:2 280
25760 2 0.10 51520 0.00 280 1:2 280
26040 2 0.10 52080 0.00 280 1:2 280
26600 4 0.20 106400 0.00 280 1:4 280
26880 1 0.05 26880 0.00 0 1:1 0
27440 2 0.10 54880 0.00 280 1:2 280
28000 14 0.68 392000 0.01 280 3:14 840
28560 1 0.05 28560 0.00 280 1:1 280
28840 3 0.15 86520 0.00 280 1:3 280
29960 2 0.10 59920 0.00 280 1:2 280
30240 2 0.10 60480 0.00 280 1:2 280
30800 2 0.10 61600 0.00 280 1:2 280
31080 1 0.05 31080 0.00 280 1:1 280
31360 2 0.10 62720 0.00 280 1:2 280
31640 4 0.20 126560 0.00 280 1:4 280
31920 3 0.15 95760 0.00 280 1:3 280
32200 2 0.10 64400 0.00 280 1:2 280
32480 1 0.05 32480 0.00 280 1:1 280
32760 1 0.05 32760 0.00 280 1:1 280
33320 1 0.05 33320 0.00 280 1:1 280
33600 2 0.10 67200 0.00 280 1:2 280
33880 1 0.05 33880 0.00 280 1:1 280
34160 1 0.05 34160 0.00 280 1:1 280
34440 2 0.10 68880 0.00 280 1:2 280
35000 2 0.10 70000 0.00 280 1:2 280
35280 2 0.10 70560 0.00 280 1:2 280
35560 1 0.05 35560 0.00 280 1:1 280
36120 2 0.10 72240 0.00 280 1:2 280
36400 1 0.05 36400 0.00 280 1:1 280
36680 1 0.05 36680 0.00 280 1:1 280
37240 2 0.10 74480 0.00 280 1:2 280
37520 1 0.05 37520 0.00 280 1:1 280
37800 1 0.05 37800 0.00 280 1:1 280
38640 2 0.10 77280 0.00 280 1:2 280
39200 4 0.20 156800 0.01 280 1:4 280
39480 3 0.15 118440 0.00 280 1:3 280
39760 8 0.39 318080 0.01 280 3:8 840
40040 1 0.05 40040 0.00 280 1:1 280
40880 1 0.05 40880 0.00 280 1:1 280
41160 1 0.05 41160 0.00 280 1:1 280
41440 2 0.10 82880 0.00 280 1:2 280
42000 5 0.24 210000 0.01 280 2:5 560
42280 1 0.05 42280 0.00 280 1:1 280
44240 1 0.05 44240 0.00 280 1:1 280
44800 3 0.15 134400 0.00 280 1:3 280
45640 1 0.05 45640 0.00 280 1:1 280
45920 1 0.05 45920 0.00 280 1:1 280
47040 1 0.05 47040 0.00 280 1:1 280
49000 2 0.10 98000 0.00 280 1:2 280
49840 13 0.63 647920 0.02 280 6:13 1680
50120 1 0.05 50120 0.00 280 1:1 280
50400 3 0.15 151200 0.01 280 1:3 280
50680 1 0.05 50680 0.00 280 1:1 280
51520 1 0.05 51520 0.00 280 1:1 280
51800 1 0.05 51800 0.00 280 1:1 280
52640 1 0.05 52640 0.00 280 1:1 280
52920 1 0.05 52920 0.00 280 1:1 280
53200 1 0.05 53200 0.00 280 1:1 280
54880 1 0.05 54880 0.00 280 1:1 280
55720 1 0.05 55720 0.00 280 1:1 280
56000 6 0.29 336000 0.01 280 1:2 840
59920 1 0.05 59920 0.00 280 1:1 280
60200 3 0.15 180600 0.01 280 1:3 280
63000 1 0.05 63000 0.00 280 1:1 280
63560 1 0.05 63560 0.00 280 1:1 280
66080 5 0.24 330400 0.01 280 3:5 840
68320 1 0.05 68320 0.00 280 1:1 280
69160 1 0.05 69160 0.00 280 1:1 280
70000 4 0.20 280000 0.01 280 1:2 560
75600 1 0.05 75600 0.00 280 1:1 280
78400 1 0.05 78400 0.00 280 1:1 280
79800 5 0.24 399000 0.01 280 3:5 840
80080 2 0.10 160160 0.01 280 1:2 280
84000 8 0.39 672000 0.02 280 3:4 1680
85960 1 0.05 85960 0.00 280 1:1 280
88200 2 0.10 176400 0.01 280 1:2 280
89320 1 0.05 89320 0.00 280 1:1 280
89880 4 0.20 359520 0.01 280 3:4 840
90720 2 0.10 181440 0.01 280 1:2 280
95760 1 0.05 95760 0.00 280 1:1 280
97720 1 0.05 97720 0.00 280 1:1 280
98000 2 0.10 196000 0.01 280 1:2 280
99120 1 0.05 99120 0.00 280 1:1 280
99400 1 0.05 99400 0.00 280 1:1 280
99680 1 0.05 99680 0.00 280 1:1 280
99960 9 0.44 899640 0.03 280 8:9 2240
100240 2 0.10 200480 0.01 280 1:1 560
102200 3 0.15 306600 0.01 280 2:3 560
103880 1 0.05 103880 0.00 280 1:1 280
105560 1 0.05 105560 0.00 280 1:1 280
107800 2 0.10 215600 0.01 280 1:1 560
119000 1 0.05 119000 0.00 302 1:1 302
119840 1 0.05 119840 0.00 304 1:1 304
120400 2 0.10 240800 0.01 305 1:1 610
126000 2 0.10 252000 0.01 319 1:1 638
127400 1 0.05 127400 0.00 323 1:1 323
129080 1 0.05 129080 0.00 328 1:1 328
139720 1 0.05 139720 0.00 355 1:1 355
140000 5 0.24 700000 0.02 355 1:1 1775
141960 2 0.10 283920 0.01 359 1:1 718
149520 1 0.05 149520 0.01 379 1:1 379
149800 4 0.20 599200 0.02 379 1:1 1516
150080 1 0.05 150080 0.01 380 1:1 380
154000 1 0.05 154000 0.01 390 1:1 390
158200 1 0.05 158200 0.01 400 1:1 400
159600 2 0.10 319200 0.01 404 1:1 808
160160 1 0.05 160160 0.01 405 1:1 405
162120 1 0.05 162120 0.01 410 1:1 410
179760 1 0.05 179760 0.01 455 1:1 455
182000 1 0.05 182000 0.01 461 1:1 461
183960 1 0.05 183960 0.01 466 1:1 466
187880 1 0.05 187880 0.01 476 1:1 476
189840 1 0.05 189840 0.01 481 1:1 481
191800 1 0.05 191800 0.01 486 1:1 486
196000 2 0.10 392000 0.01 497 1:1 994
198800 1 0.05 198800 0.01 503 1:1 503
199920 8 0.39 1599360 0.06 506 1:1 4048
200200 4 0.20 800800 0.03 507 1:1 2028
204400 2 0.10 408800 0.01 518 1:1 1036
210000 1 0.05 210000 0.01 532 1:1 532
211960 1 0.05 211960 0.01 537 1:1 537
220080 1 0.05 220080 0.01 557 1:1 557
221200 1 0.05 221200 0.01 560 1:1 560
229880 1 0.05 229880 0.01 582 1:1 582
239960 1 0.05 239960 0.01 608 1:1 608
250880 1 0.05 250880 0.01 636 1:1 636
252000 1 0.05 252000 0.01 638 1:1 638
266000 2 0.10 532000 0.02 674 1:1 1348
268800 1 0.05 268800 0.01 681 1:1 681
280000 2 0.10 560000 0.02 710 1:1 1420
292600 1 0.05 292600 0.01 741 1:1 741
299600 1 0.05 299600 0.01 759 1:1 759
299880 3 0.15 899640 0.03 760 1:1 2280
300160 1 0.05 300160 0.01 761 1:1 761
309680 1 0.05 309680 0.01 785 1:1 785
309960 1 0.05 309960 0.01 786 1:1 786
322840 1 0.05 322840 0.01 818 1:1 818
350000 6 0.29 2100000 0.07 887 1:1 5322
376600 1 0.05 376600 0.01 955 1:1 955
378000 1 0.05 378000 0.01 958 1:1 958
390040 1 0.05 390040 0.01 989 1:1 989
399000 2 0.10 798000 0.03 1011 1:1 2022
399840 6 0.29 2399040 0.08 1014 1:1 6084
400120 2 0.10 800240 0.03 1014 1:1 2028
413840 1 0.05 413840 0.01 1049 1:1 1049
434000 1 0.05 434000 0.02 1100 1:1 1100
476000 1 0.05 476000 0.02 1206 1:1 1206
483840 1 0.05 483840 0.02 1226 1:1 1226
499800 1 0.05 499800 0.02 1266 1:1 1266
504000 2 0.10 1008000 0.03 1277 1:1 2554
540400 1 0.05 540400 0.02 1369 1:1 1369
551600 1 0.05 551600 0.02 1398 1:1 1398
560000 1 0.05 560000 0.02 1419 1:1 1419
568680 1 0.05 568680 0.02 1441 1:1 1441
568960 1 0.05 568960 0.02 1442 1:1 1442
569240 1 0.05 569240 0.02 1442 1:1 1442
569520 1 0.05 569520 0.02 1443 1:1 1443
599760 2 0.10 1199520 0.04 1520 1:1 3040
613200 1 0.05 613200 0.02 1554 1:1 1554
799960 1 0.05 799960 0.03 2027 1:1 2027
828800 1 0.05 828800 0.03 2100 1:1 2100
840000 1 0.05 840000 0.03 2128 1:1 2128

 

Category No. of
Applications
Received
% of 
Total
Total No.
of Equity
Shares applied
% to 
Total
No. of Equity
Shares Allotted
per Applicant
Ratio Total No.
of Equity
Shares Allotted
980000 1 0.05 980000 0.03 2484 1:1 2484
999600 2 0.10 1999200 0.07 2533 1:1 5066
999880 11 0.54 10998680 0.38 2534 1:1 27874
1000160 1 0.05 1000160 0.03 2535 1:1 2535
1001000 1 0.05 1001000 0.03 2537 1:1 2537
1039920 1 0.05 1039920 0.04 2636 1:1 2636
1199800 1 0.05 1199800 0.04 3040 1:1 3040
1351840 1 0.05 1351840 0.05 3426 1:1 3426
1400000 1 0.05 1400000 0.05 3547 1:1 3547
1439760 1 0.05 1439760 0.05 3648 1:1 3648
1799840 1 0.05 1799840 0.06 4561 1:1 4561
1999200 1 0.05 1999200 0.07 5066 1:1 5066
1999760 28 1.37 55993280 1.94 5067 1:1 141876
2499840 10 0.49 24998400 0.87 6335 1:1 63350
2999920 3 0.15 8999760 0.31 7602 1:1 22806
3000200 2 0.10 6000400 0.21 7603 1:1 15206
3346000 1 0.05 3346000 0.12 8479 1:1 8479
3500000 2 0.10 7000000 0.24 8869 1:1 17738
3599960 1 0.05 3599960 0.12 9123 1:1 9123
3999800 11 0.54 43997800 1.53 10136 1:1 111496
4200000 2 0.10 8400000 0.29 10644 1:1 21288
4900000 1 0.05 4900000 0.17 12418 1:1 12418
4998000 1 0.05 4998000 0.17 12666 1:1 12666
4999960 7 0.34 34999720 1.21 12671 1:1 88697
5999840 3 0.15 17999520 0.62 15205 1:1 45615
6000120 2 0.10 12000240 0.42 15206 1:1 30412
6499920 2 0.10 12999840 0.45 16473 1:1 32946
6650000 5 0.24 33250000 1.15 16852 1:1 84260
6698160 1 0.05 6698160 0.23 16975 1:1 16975
6699840 7 0.34 46898880 1.63 16979 1:1 118853
6800080 1 0.05 6800080 0.24 17233 1:1 17233
6916000 1 0.05 6916000 0.24 17526 1:1 17526
7000000 6 0.29 42000000 1.46 17740 1:1 106440
7000280 1 0.05 7000280 0.24 17740 1:1 17740
7224000 1 0.05 7224000 0.25 18307 1:1 18307
7999880 4 0.20 31999520 1.11 20274 1:1 81096
8999760 5 0.24 44998800 1.56 22808 1:1 114040
9800000 3 0.15 29400000 1.02 24835 1:1 74505
9998800 1 0.05 9998800 0.35 25339 1:1 25339
9999920 44 2.15 439996480 15.26 25342 1:1 1115048
10399760 2 0.10 20799520 0.72 26356 1:1 52712
10999800 1 0.05 10999800 0.38 27876 1:1 27876
11200000 1 0.05 11200000 0.39 28383 1:1 28383
11599840 1 0.05 11599840 0.40 29397 1:1 29397
11749920 4 0.20 46999680 1.63 29776 1:1 119104
11998000 2 0.10 23996000 0.83 30406 1:1 60812
11999960 28 1.37 335998880 11.66 30411 1:1 851508
12000240 4 0.20 48000960 1.67 30412 1:1 121648
12999840 2 0.10 25999680 0.90 32944 1:1 65888
13000400 1 0.05 13000400 0.45 32946 1:1 32946
13300000 97 4.73 1290100000 44.75 33706 1:1 3269482

C. Allotment to QIBs (After Technical Rejections)
Allotment to QIBs, who have bid at the Issue Price of Rs 50.00 per Equity Share or above, has been done on a proportionate basis in consultation with the BSE. This category has been subscribed to the extent of 102.92 times of Net QIB portion. As per the SEBI Regulations, Mutual Funds were allotted 5% of the Equity Shares of Net QIB portion available i.e.66,500 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were allotted the remaining available Equity Shares i.e. 12,63,500 Equity Shares on a proportionate basis. The total number of Equity Shares allotted in the QIB category is 13,30,000 Equity Shares, which were allotted to 50 successful Applicants.

CATEGORY FIS/BANKS MF'S NBFC VC AIF Fll FPC TOTAL
QIB 1,66,233 1,31,838 5,43,966 1,22,832 1,40,884 5,404 2,18,843 13,30,000

D. Allotment to Eligible Employee under Employee reservation (After Technical Rejections)-Asian Granito India Limited
The Basis of Allotment to the Eligible Employees under Employee reservation portion, who have bid at cut-off or at the Issue Price of Rs 50.00 per Equity Share (less discount of Rs 2.5), was finalized in consultation with the BSE. This category has been subscribed to the extent of 2.03 times. The total number of Equity Shares Allotted in Employee category is 4,20,000 Equity Shares to 226 successful applicants. 
The category-wise details of the Basis ofAllotmentare as under (sample):

Category No. of
Applications
Received
% of 
Total
Total No.
of Equity
Shares applied
% to 
Total
No. of
Equity Shares
Allotted per
Applicant
Ratio Total No.
of Equity
Shares Allotted
280 8 3.48 2240 0.26 280 1:2 1120
560 2 0.87 1120 0.13 280 1:1 560
1120 4 1.74 4480 0.53 552 1:1 2208
1400 2 0.87 2800 0.33 690 1:1 1380
1680 2 0.87 3360 0.39 828 1:1 1656
1960 4 1.74 7840 0.92 966 1:1 3864
2240 6 2.61 13440 1.58 1104 1:1 6624
2520 1 0.43 2520 0.30 1242 1:1 1242
2800 3 1.30 8400 0.99 1380 1:1 4140
3080 5 2.17 15400 1.81 1518 1:1 7590
3360 5 2.17 16800 1.97 1656 1:1 8280
3640 1 0.43 3640 0.43 1794 1:1 1794
3920 55 23.91 215600 25.30 1932 1:1 106260
4200 109 47.39 457800 53.73 2070 1:1 225630
4760 1 0.43 4200 0.49 2070 1:1 2070
5880 7 3.04 29400 3.45 2070 1:1 14490
6160 1 0.43 4200 0.49 2070 1:1 2070
7000 1 0.43 4200 0.49 2070 1:1 2070
8400 1 0.43 4200 0.49 2070 1:1 2070
9800 5 2.17 21000 2.46 2070 1:1 10350
10080 2 0.87 8400 0.99 2070 1:1 4140
10360 5 2.17 21000 2.46 2070 1:1 10350

E. Allotment to Eligible Employee under Employee reservation (After Technical Rejections)-Astron paper & board Mill Limited
The Basis of Allotment to the Eligible Employees under Employee reservation portion, who have bid at cut-off or at the Issue Price of Rs 50.00 per Equity Share (less discount of Rs 2.5), was finalized in consultation with the BSE. This category has been subscribed to the extent of 1.0960 times. The total number of Equity Shares Allotted in Employee category is 2,80,000 Equity Shares to 75 successful applicants.

The category-wise details of the Basis of Allotmentare as under:

• Allocation to employees who have applied above Rs. 2 Lakh

Category No of
Applications
Received
% of 
Total
Total No.
of Equity
Shares applied
% to 
Total
No. of Equity
shares allotted
per applicant
Ratio Total no
of equity
shares allotted
5,040 1 3.57 840 0.60 679 1:1 679
6,440 4 14.29 8,960 6.39 1,811 1:1 7,244
6,720 1 3.57 2.520 1.80 2,037 1:1 2,037
7,000 1 3.57 2,800 2.00 2,263 1:1 2,263
8.400 2 7.14 8.400 5.99 3.395 1:1 6,790
10,080 1 3.57 5,880 4.19 4,753 1:1 4,753
10,360 18 64.29 1,10,880 79.03 4,979 1:1 89,622

• Allocation to employees who have applied upto Rs. 2 Lakh

Category No of
Applications
Received
% of 
Total
Total No.
of Equity
Shares applied
% to 
Total
No of equity
shares allotted 
per applicant
Ratio Total No.
of Equity
shares allotted
560 4 8.51 2,240 1.34 560 1:1 2,240
1,120 2 4.26 2,240 1.34 1,120 1:1 2,240
2,240 4 8.51 8,960 5.38 2,240 1:1 8,960
3,080 2 4.26 6,160 3.70 3,080 1:1 6,160
4,200 7 14.89 29,400 17.65 4,200 1:1 29,400
5,040 1 2.13 4,200 2.52 4,200 1:1 4,200
6,440 4 8.51 16,800 10.08 4,200 1:1 16,800
6,720 1 2.13 4,200 2.52 4,200 1:1 4,200
7,000 1 2.13 4,200 2.52 4,200 1:1 4,200
8,400 2 4.26 8,400 5.04 4,200 1:1 8,400
10,080 1 2.13 4,200 2.52 4,200 1:1 4,200
10,360 18 38.30 75,600 45.38 4,200 1:1 75,600
TOTAL 47 100.00 1,66,600 100.00     1,66,600

The IPO Committee of our Company at its meeting held on December 27, 2017 has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has allotted the Equity Shares to various successful applicants. The Allotment Advice Cum Refund Intimation will be dispatched to the address of the investors as registered with the depositories. Further, instructions to the SCSBs have been dispatched/mailed for unblocking of funds and transfer to the Public Issue Account on or before December 27, 2017. In case the same is not received within ten days, investors may contact the Registrar to the Issue at the address given below. The Equity Shares allotted to the successful allottees have been uploaded on or before December 28, 2017 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company is in the process of filing the Listing application with BSE and NSE on or before December 29, 2017. Our Company is taking steps to get the Equity Shares admitted for trading on the BSE and NSE within 6 working days of the closure of the Issue.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated December 22,2017filed with the Registrar of Companies, Ahmedabad ("Prospectus").

INVESTORS PLEASE NOTE

These details of the Allotment made shall be hosted on the website of Registrar to the Issue, Link Intime India Pvt. Ltd. at www.linkintime.co.in

All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/ Sole Bidder Serial number of the ASBA form, number of Equity Shares bid for, Bidder DP ID, Client ID, PAN, date of submission of the Bid cum Application Form, address of the Bidder, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and copy of the Acknowledgment Slip received from the Designated Intermediary and payment details at the address given below:

Link Intime India Private Limited
C-101, 247 Park, 1st Floor, LBS Marg, Vikhroli (W), Mumbai-400083.
Tel: 022 49186200; Fax: 022 49186195; Email: astron.ipo@linkintime.co.in
Investor Grievance E-mail: astron.ipo@linkintime.co.in
Website: www.linkintime.co.inContact Person: Ms. Shanti Gopalkrishnan 
SEBI Registration Number: INR000004058

Place : Ahmedabad
Date : December 28,2017
For ASTRON PAPER & BOARD MILL LIMITED
On behalf of the Board of Directors
sd/-
Company Secretary & Chief Compliance Officer

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING ORTHE BUSINESS PROSPECTS OF ASTRON PAPER & BOARD MILL LIMITED.