Is Panchakanya Mai IPO oversubscribed ???? You still have chances for 10 units allotment

The 10.01 lakh unit IPO of Panchakanya Mai is on a roll. The public issue which is said to have oversubscribed by more than 6 times is scheduled to end tomorrow. The IPO has already collected Rs 67 crores from 95,700 applicants. This accounts for 6.70 times more than the amount of shares offered to general pubic. 

Should we now loose hope of getting shares ?

Well, the answer is no. The rule for "minimum 10 units allotment" is applicable in our market. Thus, when allotted 10 units to every applicant, nearly 1 lakh applicants will be eligible for the shares. Since, 95,700 applicants had applied for the shares by today, applicants can still hope for the shares.

Though the IPO may look oversubscribed from issue managers point of view, the issue can still be called "under subscribed" from shareholder's perspective. Thus, investors looking to apply for the shares can still go ahead tomorrow and apply for the shares.