Sanima General Insurance's IPO allotment on Friday: At what time exactly?

Sanima General Insurance is allotting its IPO shares to applicants tomorrow, i.e. Ashwin 30, 2077. The shares will be allotted at NIC Asia Capital, starting from 8:30 am. 

Sanima General Insurance Limited recently closed the issue of 30,00,000 units of Initial Public Offering to the general public. This IPO issue was open since Ashwin 21 and was open for four working days (five days including Saturday.)

Out of the offered 30,00,000 units; 4% of the total offered shares were set aside for the employees of the company and 5% for the mutual funds. The remaining 27,30,000 units were for the general public.

According to the issue manager NIC Asia Capital, the IPO has received 8,82,703 applications for a total of 1,89,75,060 units till 5 pm today. This is the highest number of applicants an IPO issue has ever witnessed. Analyzing the data in the nearest round figure, one in three applicants will get 10 units.

Also, the issue is oversubscribed by 6.95 times in terms of the applied quantity of shares.

Some of the invalid applications will be disqualified and allotment will be done. Only the lucky 2.73 lakhs applicants will get 10 units each via the lottery.