The company issued the FPO on May 25-31.
According to Muktinath Capital, issue manager for the company, a total of 1.4 million applicants have applied for 16.3 million units of shares worth Rs 1.63 billion. It is 43 times of offered 379,425 units of shares.
Given that the issue has been oversubscribed, the allotment will take place as per Securities Issuance and Allotment Guidelines under which minimum of 10 units of shares will be allotted through lottery.
The company issued 379,425 units of ordinary shares worth Rs 37.9 million at a face value of Rs 100. In the issue, a total of 1,357,180 applicants applied for 154,427,530 units of shares. Out of which 1493 applications were cancelled and 1,355,679 applications were approved.
Out of approved applications, 37,942 applicants have been provided with 10 units of shares through lottery. Among them, lucky 5 applicants also provided an additional one unit of shares.
