Ru Ru Jalbidhyut Limited has released an initial public offering (IPO) on 20th Chaitra, which will close on 24th Chaitra, 2077, i.e. today. Over 13 lakhs of investors have already applied. 4,07,706 unit shares are to be issued at Rs 120 per share with an additional premium of Rs 20 per share.
There are 8,154 units, which is 2% of the issue, reserved for company employees, and 20,385 units that are 5% reserved for mutual funds. Individual investors own the remaining 3,79,167 units with minimum 10 units to be applied and a maximum of 3,79,167 units.
“There have been 13,08,985 applications for 1,87,65,600 units” says CDSC. Given that only 37,916 investors will receive 10 shares each, the issue is also oversubscribed in terms of number of applicants. Hence, the issue has already been oversubscribed over 49.49 times in terms of shares.