The company issued 2.9 million units of shares at a face value of Rs 100 from March 19-23. Out of the total offered shares, the company allocated 5 percent i.e. 154,000 units to mutual funds and 2 percent i.e. 58,000 units to employees.
The issue was oversubscribed by 9.16 times. A total of 1,523,450 applicants have applied for Rs 24.7 million worth of shares.
In the allotment only, 269,700 applicants will be provided 10 units of shares through lottery while hands of more than 1.2 million applicants will be left empty handed.
