Sarbottam Cements to Allot IPO on Friday

GP Chudal

Sarbottam Cements IPO Allotment Set for March 8: Global IME Capital Reveals Details

Published: March 4, 2024
Sarbottam Cements, a prominent player in the construction industry, is gearing up to finalize the allocation of its eagerly awaited initial public offering (IPO) on Friday, March 8.

According to insights shared by global IME Capital, the esteemed issue manager overseeing the process for Sarbottam Cements, the IPO allotment is scheduled for March 8, commencing promptly at 10 am within their premises.

During the offering period, which spanned from February 25 to February 28, Sarbottam Cements made available 2,776,076 units of ordinary shares at an inviting price of Rs 360.90 per share, exclusively for the general public. This offering elicited tremendous interest from investors, with an overwhelming response of 960,301 applicants vying for a total of 50,613,360 units of shares.

With such a robust demand surpassing the available supply, the IPO has garnered substantial oversubscription. Consequently, the allotment process will adhere to the Securities Issuance Guidelines, employing a lottery system to ensure fairness. Under this framework, a fortunate pool of 55,521 applicants will be granted the opportunity to acquire shares in Sarbottam Cements.

This development marks a significant milestone for both Sarbottam Cements and prospective investors, as anticipation builds towards the upcoming IPO allotment event.

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