Samridha Laghubitta is set to allot the recently issued initial public offering (IPO) on Friday, as per issue manager Global IME Capital.
As per the capital, it has completed the application verification procedure and will allot the IPO within Friday. Nesdo Samridha issued 828,750 units of primary shares at a face value of Rs 100 worth Rs 82.8 million from February 23-27.
Out of the total offered units, the company allocated 0.5 percent i.e. 12,750 units to the employees and 5 percent i.e. 41,737 units of general public quota to mutual funds. The general investors could apply for the remaining 774,563 units of shares.
As per the latest data, 2.6 million applicants have applied for 30,113,700 units of shares worth Rs 3.01 billion.
Given that the IPO has been oversubscribed, allotment will take place as per Securities Issuance and Allotment Guidelines. Based on that, only 77,456 applicants will be provided 10 units of shares through lottery.
Currently, the company has paid-up capital of Rs 172.1 million that will reach Rs 255 million after the issue.
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