Chandragiri Hills to allot recently issued IPO by Friday

Jan 20, 2021 05:13 PM Merolagani

Chandragiri Hills is pre-alloting its recently issued IPO today. As per Global IME Capital, issue manager of the company, it will fix the allotment date after completing the pre-allotment.

The issue manager will submit the details of the pre-allotment to SEBON following which the board will give a date for allotment. The company aims to allot the IPO by the coming Friday.

The company issued IPO to the general public from January 8-12. The company is issuing 1,534,091 units of primary shares worth Rs 153.4 million.

Out of the total offered shares, 4 percent i.e. 61,364 units have been allocated to employees while 5 percent i.e. 76,705 units have been allocated to mutual funds. The general public could apply for the remaining 1,396,022 units.

The issue was oversubscribed by 17.53 times. A total of 1,251,010 applicants have applied for 24,474,530 units of shares worth Rs 2.44 billion.

Based on the data, only 139,602 applicants will be provided 10 units of shares through the lottery while the hands of more than 1.1 million applicants will be left empty.

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