Shreenagar Agritech issued 309,938 units of ordinary shares at Rs 100 per unit to foreign migrated workers from August 27-September 1.
In the issue, a total of 64,812 applicants applied for 1,015,470 units of shares, out of which, 64,049 applications were approved and 13,000 applications were cancelled.
Given that the issue was oversubscribed, the allotment took place as per Securities Issuance and Allotment Guidelines under which 30,993 applicants were provided 10 units to shares through lottery. Moreover, 8 remaining units were also distributed to the same allottees through lottery making their share count 11.
