People’s Leasing allots mega IPO shares; makes all happy

The Initial Public Offering of People’s Leasing Company was oversubscribed by 1.3 times and the company said retail investors had been allotted 100% of shares applied for as had unit trusts and a category titled identified investor category.

Employees who applied for 34.5 million shares too had received 100% of shares applied for.

Retail investors had applied for 22 million shares.

Non retail investors who applied for 344 million shares had been allotted 217.9 million shares. Applications of over 55,600 shares in this category were allotted this amount plus another 58.786% of shares applied for.

The People’s Leasing Company IPO aimed at raising Rs. 7.02 billion made available 390 million shares at Rs. 18 each. It was oversubscribed on its official opening day itself, drawing applications worth Rs. 9.5 billion. It was the biggest IPO by a home-grown company.