FPO of Citizens Bank to be allotted tomorrow; 46,382 applicants to receive 10 units each

Thu, Aug 9, 2018 2:36 PM on Featured, IPO/FPO News, Stock Market,
FPO of Cit...

The allotment of further public offering (FPO) of Citizens Bank is set to be allotted tomorrow. As per the information received from the issue manager i.e. Global IME Capital, the allotment will be made in the premises of Global IME Capital at 9:00 AM.

The bank had issued 4,63,826 unit shares from Shrawan 15 till Shrawan 18, 2075 for which 64,710 applications has been received. The issue was open for Rs 200 (Rs 100 premium added).

As the issue has been oversubscribed, the allotment will be made on a lottery basis i.e. 46,382 applicats will be allotted with 10 unit shares each. For the total issue worth Rs 1.27 crore, applications for more than Rs 1.25 arba was received till the last day.

After the allotment of the FPO, the capital structure of the bank will stand at 51% of promoters and 49% of ordinary shareholders. Currently, the capital structure stands at 51.29:48.71.

NFRS based report of the bank stated its profit to be Rs 1.27 arba with distributable profit of Rs 96.49 crore.