Only 644,000 will get IPO distribution of Sahas Urja next week
Sahas Urja Company is going to distribute IPO next week. The company is going to distribute the IPO brought to the public from October 22 to October 25.
NIBL S Capital, the company's IPO sales manager, has announced the next IPO allotment.
"Verification is currently underway," Capital said. "Once the verification is complete, we will issue an IPO within the next week."
The company had opened 7 million IPOs at a face value of Rs 100 per share from October 22 to October 25. Out of which 3 percent or 210,000 shares were allotted to the employees, 5 percent or 350,000 shares were allotted to the collective investment fund and the remaining 6.4 million shares were allotted to the general public.
As of the last day, more than 2.46 million applicants have applied for 34.3 million shares in the company's IPO. This is 5.62 times more than the demand for the general public.
As there are more applications than demand, the IPO of the company will be distributed through round robin. As per the directive of the IPO Securities Board of the company, 644,000 people will get 10 lots when the distribution takes place