Shivam Cement Allots IPO, Applicants Seeking 5,220 Units Provided Desire Number

Mar 06, 2019 Merolagani

Shivam Cement (SCL) has allotted IPO on March 6. The company has provided the desired number of shares to the public who sought up to 5,220 units of shares.

Investors who sought above 5,220 units of shares were provided 5,640 units proportionally through a lottery. The remaining 115 shares were distributed among 11 out of 38 applicants who sought 6,530- 1 million units through a lottery. These applicants were provided 10 units per applicant.

 Moreover, the remaining 5 shares were provided to 5 applicants among those 11 at the rate of one unit per applicant.

The IPO applicants were provided a minimum of 50 to a maximum of 5,651 units, as per Siddhartha Capital.

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