50,173 applicants applied for IPO of NRN Infrastructure and Development till now; 75.35% issue already subscribed on the first day

NRN Infrastructure and Development Limited is issuing 33,98,046 units ordinary shares worth Rs 33.98 crore to the general public from today ie Shrawan 16, 2077. The early closing date of this IPO issue is on Shrawan 21, 2077 and if the issue is not subscribed till Shrawan 21 then this issue can be extended up to Bhadra 3, 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.

As per the issue manager Sanima Capital Limited, the issue has received approx 50,173 applications applying for a total of 23,81,390 units of shares worth Rs 23.81 crore till 4.30 PM today (Shrawan 16).  

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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