NRN Infrastructure and Development closing IPO issue from today; already 3,34,292 applicants applied for IPO Issue

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 closing date of this IPO issue is today i.e. Shrawan 21, 2077. All the interested investors are requested to apply before banking hours today.

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 3,34,292 applications applying for a total of 1,40,53,760 units of shares worth Rs 1.14 arba till 5 AM (Shrawan 20).  This issue is already oversubscribed by 4.44 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.

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

Click here for IPO Offer Letter: