A total of 1,049,047 applicants have applied for 27.8 million units of shares worth Rs 2.78 billion out of which 2,169 applications seeking 47,720 units of shares have been canceled.
The company issued 6 million units of shares worth Rs 600 million from December 14-17. Out of the total offered shares, the company allocated 5 percent i.e. 300,000 units to employees and another 5 percent to mutual funds. The general public could apply for the remaining 5.4 million units of shares.
As the issue was oversubscribed by a huge margin, while allotting as per Securities Issuance and Allotment Guidelines, applicants have been allotted 10 units of shares through lottery.
Based on this, only 540,000 applicants have been provided 10 units of shares while the remaining 48.42 percent of applicants have been left empty-handed.
Currently, the company has a paid-up capital of Rs 1.40 billion that will reach Rs 2 billion after the capitalization of the IPO.
