Since Shrawan 13th, approximately 26 times more applications have been submitted for Sayapatri Hydropower Limited’s IPO.
By 5:08 p.m. on Tuesday, 15 lakh 23 thousand 703 applications had been received for 1 crore 72 lakh 45 thousand 80 shares worth 1 Arab 72 crore 45 lakh 8 thousand rupees, according to CDS and Clearing.
This is 25.72 times the 670 thousand 586 shares granted to the general public. For the local population of the project-affected areas, the business had issued 600,000 shares at a price of Rs 100 each, and it had added the remaining 121,060 shares to make a total of 721,060 ordinary shares.
Out of which 5%, or 36 thousand 53 shares, have been assigned to collective investment funds, and 2% i.e. 14,421 shares have been set aside for employees. To the general public will only be allocated the remaining 670 thousand 586 shares.
According to the Securities Issuance and Allotment Guidelines, the shares will be issued at a minimum rate of 10 shares by round robin because there are more applications than there are shares in demand for the company. That means that just 76 thousand 58 persons will receive shares.