Sparsha Laghubitta issued 252,000 units of ordinary shares to the general public after allocating 4,148 units to employees and 13,482 units to mutual funds from March 10-13. The issue was oversubscribed by 32.233 times.
According to Sanima Capital, it received a total of 298,353 application seeking 8,122,940 units of shares worth Rs 812.2 million. Out of which 585 applications seeking 15,500 units of shares have been canceled due to errors.
As per Securities Issuance and Allotment Guideline, each applicant should be provided 10 units of shares. Based on the guideline, only 8.45 percent i.e. 25,200 applicants will be provided 10 units of shares through a lottery. Meanwhile, 91.55 percent i.e. 273,153 applicants will be left empty-handed.
After the IPO, the paid-up capital of the company will reach Rs 82.9 million maintaining its promoter and ordinary share ownership to 67.50:32.50.
