Shivam Cement Allots IPO, Locals Provided Desired Number of Shares

Mar 06, 2019 Merolagani

Shivam Cement (SCL) has allotted sought amount of shares to locals of the affected area. The company that issued 880,000 units of shares to locals of affected area allotted the desired number of shares to valid 1,897 applicants.

Out of the total 1,898 applicants, only one application that sought 100 units of shares was cancelled. The valid 1,897 applicants had applied for 15 units to 115,000 units of shares. They were provided desired number of shares.

As per Siddhartha Capital, a total of 94,695 units of shares have been unsubscribed from local group. The company issued 880,000 units of shares to the locals of affected area, out of which, 785,305 units have been allotted to 1,897 applicants.

The remained 94,695 units have been allotted to general public.  

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