NRN Infrastructure and Development Allots IPO, 97,344 applicants left empty handed

Aug 11, 2020 09:44 AM Merolagani

NRN Infrastructure and Development has allotted its initial public offering (IPO) today. The company allotted IPO worth Rs 340 million in the premises of Sanima Capital.

In the IPO, a total of 417,958 applicants had applied for IPO worth Rs 1.53 billion. Out of the total applicants, 320,614 applicants were provided 10 units of shares through lottery while 97,344 applicants were left empty handed.

The company is issuing 3,398,046 units of primary shares at a face value of Rs 100. Out of the offered shares, the company had allocated 5 percent i.e. 169,902 units to mutual fund and 2 percent i.e. 67,961 units to employees. The general public was issued for the remaining 3,160,183 units of shares.

The company also adds up 45,957 units of shares allocated to employees that went unsold to the general public.

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