Chandragiri Hills Allot IPO, Lucky 2 get 11 units

Jan 22, 2021 12:10 PM Merolagani

Chandragiri Hills has allotted the initial public offering today in the premises of issue manager, Global IME Capital.

As per the issue manager, a total of 139,602 applicants have been provided 10 units of shares. The remaining two units were allotted to two applicants among them which mean the lucky two get 11 units of shares.

According to Global IME Capital, 1,216,953 applicants had applied for the shares. Out of which 5,838 applications were cancelled and 1,211,115 applications were in competition.

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

Given that the issue was oversubscribed, only 139,600 applicants could receive 10 units of shares through lottery while allotting the IPO under Securities Allotment Guidelines. The remaining 1,071,515 applicants were left empty-handed.

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