IPO of Sahas Urja Limited Oversubscribed 1.2 Times on First Day Itself

Sahas Urja Limited has opened the IPO issue for 7,000,000 units of ordinary shares worth Rs. 70 crores to the general public from today. Since the issue is oversubscribed today itself, it will conclude on Ashwin 10, 2078.

This is 20% of the total issued capital. From the total of 70,00,000 units, 3,50,000 units i.e., 5% are for the mutual funds. 3% of the total units i.e., 2,10,000 units are for the employee of the company, and the remaining 64,40,000 units are for the general public.

NIBL Ace Capital Limited has been appointed as the issue manager for the IPO issuance. According to the issue manager, 5,18,872 applicants have applied for a total of 77,91,580 units. Thus, the issue is already oversubscribed over 1.2 times on the first day itself.

Applications can be placed for a minimum of 10 units and a maximum of 1,050,000 units.