Janautthan to distribute IPO non-allotee refund from today

ShareSansar, April 19:

Janautthan Samudayic Bikas Bank will be refunding excess money collected from investors and distributing share allotment advice slip from today (Baisakh 6).

Janautthan IPO had received a total of 75,142 applications, resulting in an oversubscription by 355 times. Among those who had applied, only 8,333 applicants were allotted shares.

The bank has urged non-allottee investors to contact their respective collection centers from where they had applied for the IPO to collect their refund money.

The non-allotees have to bring their receipt slip with a copy of citizenship or authorization letter to collect their payment slip.

Growmore Merchant Banker is the issue manager.

Of the total 82,800 shares set aside for public, 40%, or 33,120 shares, were put aside for retail investors and 60%, or 49,680 shares were earmarked for applicants under “other investor” category.   

Since the allotment took place through lottery, all investors were eligible for a minimum of 10 shares.