As per Sanima Capital, a total of 589,464 applicants had applied for the IPO out of which 1,955 were cancelled due to flawed applications.
The remaining 587,509 applications were announced valid.
The company issued 6.3 million units of primary shares having a face value of Rs 100. Out of the total offered shares, the company allotted 5 percent i.e. 315,000 to mutual funds and another 5 percent to employees. The general public could apply for the remaining 5,670,000 units of shares.
A total of 567,000 applicants will be allotted 10 units of primary shares as per the Securities Issuance and Allotment Directive while 20,509 will be left empty-handed.
The IPO was oversubscribed by 4.04 times.