Sahara Bikas Bank starts refunding non-allottees of its IPO

ShareSansar, July 20:

Sahara Bikas Bank Limited has started refunding the non-allottees of its Initial Public Offering (IPO) from today.

Allotment of the primary shares took place on July 15 at the Jamal-based office of Global IME Capital Limited, which is the issue manager of the development bank.

Investors who had applied up to Rs 70 thousands were placed under the lottery system while the rest were allotted proportionately at 1.29 percent.
   
The class ‘B’ development bank based in Malangwa of Sarlahi district had floated the IPO worth Rs 60 lakh on June 6, and the issue was closed on June 10 with oversubscription of almost 79 times.