The IPO drew nearly 1,669,019 applicfations seeking 23,390,090 units of shares. The IPO is oversubscribed by 61.68 times. Thus, nearly 98 percent applicants will be left empty handed in the allotment.
The company issued 407,706 units of primary shares with a face value of Rs 100 adding premium of Rs 20 from April 2-6.
Out of the total offered shares, the company secured 2 percent i.e. 8,154 units to employees and 5 percent i.e. 20,385 to mutual funds. The general public were issued the remaining 379,167 units of shares.
Currently, the company has a paid-up capital of Rs 326.1 million that will reach Rs 407.7 million after the IPO.
