The company’s IPO has received 17 times more applications than the issued units. The company’s IPO has received applications from 2,451,010 applicants for 2,44,74,530 Units. This is 17.53 times more than the demand. However, out of the total applicants, only 1.211 million were eligible to apply, according to Global IME Capital.
The company has opened IPO sale of primary shares to the general public since 4th January 2021. The company has issued 1,534,091 units IPO at the rate of Rs 100, equivalent to Rs.15 crore 34 Lakh 91 thousand.Out of this, 4 percent or 61,364 shares were allotted to the employees of the company, 5 percent or 76,705 shares were allotted to the collective investment fund and 1,396,022 shares were allotted to the public. Only 139,622 people will get this IPO at the rate of 10 lots. In this regard, it is seen that more than 11 lakh applicants will be empty-handed. The company had opened IPO sale for the project-affected locals from November 30. The company has issued 36,819 shares at the face value of Rs 100 per share for the project-affected locals. The company was allowed to issue 1,840,910 shares equal to 184,091,000 shares for the local and general public. The company’s paid-up capital will reach Rs 1.53 billion after the IPO distribution to the public.