As per Muktinath Capital, issue manager for the company, a total of 2,043,020 applicants have applied for 23,116,190 units of shares worth Rs 2.31 billion.
The issue has been oversubscribed by 23.70 times.
The company issued 975,000 units of ordinary shares worth Rs 97.5 million to the general public from August 3-7. Out of total offered units, the company secured 0.5 percent i.e. 12,500 units to employees and 5 percent i.e. 48,750 units to mutual funds. The general public could apply for the remaining 913,750 units of shares.
As per the issue is oversubscribed, the allotment will take place as per Securities Issuance and Allotment Guidelines. Under this, only 91,375 applicants will be provided 10 units of shares through lottery.
Right now, the company has a paid-up capital of Rs 152.5 million that will reach Rs 250 million after the IPO issue.
