Sanima General Insurance to allot IPO on Friday; 273,000 applicants to get 10 units

Oct 15, 2020 01:24 PM Merolagani

Sanima General Insurance that issued IPO from October 7-11 is set to allot the recently issued IPO on Friday, October 16.

According to NIC Asia Capital, issue manager of the company, the company is preparing to allot the IPO tomorrow at 8:30 AM in its premises.

The company informed that it has sent the pre-allotment data to SEBON, upon approval the IPO will be allotted tomorrow.

The company issued 3 million units of primary shares to the general public. Out of the total offered shares, the company allocated 120,000 to employees and 150,000 to mutual funds. The general public was issued the remaining 2,730,000 units of shares.

Based on this, only 273,000 applicants will be provided 10 units of shares. As per NIC Asia Capital, a total of 883,624 applicants applied for the IPO.

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