The initial public offering (IPO) of 7,000,000 units of ordinary shares, valued at Rs. 70 crores, has been made available to the general public. It will terminate on Ashwin 10, 2078, because the issue was oversubscribed from the very beginning.
This represents 20 percent of the total amount of issued capital. A total of 70,00,000 units are allocated to mutual funds, with 3,50,000 units, or 5% of the total, going to mutual funds. 3 percent of the total units, or 2,10,000 units, are reserved for corporate employees, with the remainder 64,40,000 units being reserved for the general public.
The issue manager for the initial public offering (IPO) has been designated as NIBL Ace Capital Limited. According to the CDSC, a total of 2,54,87,830 units have been applied for, with 17,86,270 applicants submitting applications. This is the information as of today at 5:10 p.m. This results in an issue being oversubscribed more than 3.95 times on the third day of distribution alone.
Applications can be submitted for a minimum of ten units and a maximum of one million fifty thousand units.