4,28,153 Applicants Applied for IPO of NRN Infrastructure; Oversubscribed by 5.24 Times

Wed, Aug 5, 2020 6:03 PM on IPO/FPO News, Latest,

NRN Infrastructure and Development Limited has closed its issue of 33,98,046 units ordinary shares worth Rs 33.98 crore to the general public from today banking hours. The issue was open since Shrawan 16, 2077. 

Out of the offered 33,98,046 units; 2% of the total offered shares i.e. 67,961 units was  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.

As per the issue manager Sanima Capital Limited, the issue has received approx 4,28,153 applications applying for a total of 1,65,67,600 units of shares worth Rs 1.65 arba till 5 PM today.  This issue is already oversubscribed by 5.24 times. Now its confirm that allotment will be done on the basis of lottery and only lucky 3,16,018 applicants will get 10 units each.

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 is 30% of the total paid-up capital of the company. 

Things to know for prospective investors about IPO of NRN Infrastructure and Development Limited

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