As per the issue manager Sanima Capital Limited, the IPO issue of NRN Infrastructure and Development Limited has received approx 2,30,671 applications applying for a total of 89,24,590 units of shares worth Rs 89.24 crore till 10:30 AM today (Shrawan 19). This issue is already oversubscribed by 2.82 times.
NRN Infrastructure and Development Limited is issuing 33,98,046 units ordinary shares worth Rs 33.98 crore to the general public from Shrawan 16, 2077. The early closing date of this IPO issue is on Shrawan 21, 2077.
Out of the offered 33,98,046 units; 2% of the total offered shares i.e. 67,961 units have been set aside for the employees of the company and 5% of the total offered shares i.e. 1,69,902 units have been set aside for the mutual funds. The remaining 31,60,183 units are for the general public.
Applications can be placed for a minimum of 10 units and a maximum of 31,60,183 units.
CRNL has assigned ‘CARE-NP IPO Grade 4’ grading to the proposed Initial Public Offering (IPO) of NRN Infrastructure and Development Limited (NRNIL). ‘CARE-NP IPO Grade 4’ indicates Below Average Fundamentals. The approved units are 30% of the total paid-up capital of the company.