In the issue, a total of 1,523,703 applicants have applied for 17,245,080 units of shares worth Rs 1.72 billion. The issue has been oversubscribed by 25.72 percent.
The company issued 721,060 units of primary shares including 121,060 unsubscribed units from the issuance issued to the locals of the affected area from July 29- August 2. Out of total offered units, the company secured 5 percent for mutual funds and 2 percent for employees. The general public could apply for the remaining 670,586 units.
As per the issue is oversubscribed, the allotment will take place as per Securities Issuance and Allotment Guidelines. Under this, only 76,058 applicants will be provided 10 units of shares through lottery while nearly 1.55 million applicants will be left empty handed.
