As per the issue manager, the allotment will be carried out as per Securities Issuance and Allotment Bylaw. Based on the Bylaw, only 15,120 applicants will be allotted 10 units per share through lottery. The remaining 299,805 applicants which are 95.2 percent of total applicants will be left empty handed.
The issue manager informed that 705 applications seeking 14,260 units of shares were cancelled due to errors.
The company issued 161,778 units of shares worth Rs 16.1 million. Out of the total offered shares, the company has allotted 2,489 units of shares to employees and 8,089 units to the mutual funds. The public can apply for the remaining 151,200 units.
The IPO was oversubscribed by 42.34 times. A total of 315,630 applicants had applied for 6,402,390 units of shares during the issuance.