The company issued 132,000 units of shares worth Rs 13.2 million from August 24-28. Out of the total offered units, the company secured 0.5 percent or 2,000 units to employees while 5 percent i.e. 6,600 units from the general quota to mutual funds. The general public could apply for the remaining 123,400 units of shares.
As the IPO has been oversubscribed, the allotment will take place as per Securities Issuance and Allotment Directive under which a minimum of 10 units will be provided through a lottery. Based on the data, only 12,340 applicants will be provided 10 units of share and the remaining applicants will be left empty-handed.
Currently, the company has a paid-up capital of Rs 26.8 million that will reach Rs 40 million after the IPO.
