Gurans Laghubitta Allots IPO, 23,363 Applicants Provided 10 units

May 09, 2019 Merolagani

Gurans Laghubitta (GLBSL) has allotted IPO in the morning of May 9 at 10:00 AM in the premises of NIBL Ace Capital, issue manager of the company.

 The allotment conducted under Securities Issuance and Allotment Bylaws provided 10 units of share to 23,363 applicants through lottery.  

The company allotted 233,630 units of shares including 233,625 issued and 5 units of employees' shares to 23,363 applicants.

The company issued 250,000 shares to the general public. Out of the total offered shares, the company allotted 3,870 units to employees and 12,500 units to mutual funds.

The issue was oversubscribed by 23.80 times. A total of 302,038 applicants applied for 5,560,340 units of shares in the IPO.

As per issue manager, 642 applications seeking 14,890 units of shares were cancelled due to faulty applications.

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