Tough stitch for Textured Jersey

Textured Jersey Lanka’s Rs. 1.2 billion Initial Public Offering (IPO) has managed to be oversubscribed by only three times drawing applications worth Rs. 3.68 billion.

Registrars to the issue SSP Corporate Services said the IPO of 80 million shares at Rs. 15 each had attracted 16,952 applications requesting for 245.8 million shares worth Rs. 3.68 billion.  

Retail category applications with payments via bank draft and cheques amounted to 16,904 requesting for 115.1 million shares worth Rs. 1.72 billion. Applications with payment via bank guarantees amounted to 48 requesting for 130.7 million shares worth Rs. 1.96 billion.

Textured Jersey also announced the basis of allotment of its IPO.

Employee Category

Shares Applied/Basis of allotment

Up to 500,000/100%

Over 500,000/500,000 shares + 57.32% of the balance shares applied.

The percentage is applied after deducting 500,000 shares and rounded to the nearest 100 shares.

Unit Trust Category/100%

Retail Category

Shares Applied/Basis of allotment

Up to 6,600/100%

Non Retail Category

Shares Applied/Basis of allotment

6,601 to 100,000/100%

Above 100,000/100,000 shares + 12.023520% of the balance shares applied.

The percentage is applied after deducting 100,000 shares and rounded to the nearest 100 shares.