According to Prabhu Capital, a total of 2,182,775 applicants have applied for the IPO. Out of which 69, 976 applications have been canceled due to error while 2,112,799 applications were valid.
Given that the issue was oversubscribed, the allotment took place as per the Securities Issuance and Allotment Guideline. Based on this, 580,500 applicants were provided 10 units of shares through lottery.
The remaining 1,532,299 i.e. 73 percent of applicants were left empty-handed.
The company issued 30 percent shares of its issue capital i.e. 6,450,000 units of primary shares worth Rs 645 million from July 8-12.
Out of the total offered units, the company secured 5 percent i.e. 322,500 units to employees and another 5 percent for mutual funds. The general public was issued the remaining 5,805,000 units of shares.
