Sahas Urja Limited has begun accepting applications for its initial public offering (IPO) of 7,000,000 units of ordinary shares valued at Rs. 70 crores, which will take place today. Because the issue has already received a large number of subscriptions, it will be completed on Ashwin 10, 2078.
This represents 20 percent of the total amount of issued capital. A total of 70,00,000 units are allocated to mutual funds, with 3,50,000 units, or 5% of the total, going to mutual funds. 3 percent of the total units, or 2,10,000 units, are reserved for corporate employees, with the remainder 64,40,000 units being reserved for the general public.
The issue manager for the initial public offering (IPO) has been designated as NIBL Ace Capital Limited. According to the issue manager, a total of 77,91,580 units have been applied for, with 5,18,872 applicants applying for a total of 77,91,580 units. As a result, the issue is already oversubscribed by more than 1.2 times on the first day of distribution.
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