Everest Color IPO Allotment Likely on Friday, Over 65,000 Applicants to Receive Shares
Everest Color Limited is preparing to allot its IPO shares on Friday, Ashadh 5. Following the allotment, 65,570 applicants are expected to receive shares, while the majority of applicants may remain empty-handed due to high demand.
Everest Color Limited is set to conduct the allotment of its Initial Public Offering (IPO) shares for the general public this Friday. According to issue manager Muktinath Capital Limited, the allotment process is scheduled for Ashadh 5.
Sources indicate that if the allotment cannot be completed on the scheduled date due to technical or administrative reasons, it may be postponed until Ashadh 8 (Monday).
The company had opened the IPO issue for the general public from Jestha 22 to Jestha 27, offering a total of 655,700 ordinary shares. The issue reportedly attracted a large number of applications, resulting in an oversubscription.
Based on the available share volume, only 65,570 applicants are expected to receive 10 shares each through the lottery allocation system. The remaining applicants are unlikely to receive any shares.
After the allotment is completed, investors will be able to check their IPO results through Muktinath Capital, the CDSC IPO result portal, and the MeroShare platform.