The company issued 32.10 percent ordinary shares of its issued capital i.e. 331,000 units of ordinary shares worth Rs 33.1 million to the general public million from August 9-14. Out of the total offered units, the company secured 0.5 percent i.e. 5,155 units to employees and 5 percent i.e. 16,550 units to mutual fund. The general public could apply for the remaining 308,295 units of shares. The issue has been oversubscribed by 70.45 times.
Out of total applications received, 1,864,640 units have been approved for allotment while 1,286 were cancelled.
As the issue was oversubscribed, the allotment will take place as per Securities Issuance and Allotment Guidelines under which only 30.829 applicants are provided 10 units of shares through lottery. Moreover, five allottees were also provided additional one unit through lottery.
Right now, the company has a paid-up capital of Rs 70 million that will reach Rs 103.1 million after the IPO.
