When is the IPO distribution of Sopan Pharmaceuticals Limited?

The allotment of ordinary shares (IPO) of Sopan Pharmaceuticals Limited is scheduled to take place at 9 am on Thursday. Its sales manager, NMB Capital, has informed that all preparations for distribution have been completed. A total of 29 lakh 14 thousand 443 people applied in this IPO. The company had issued 34 lakh 74 thousand 900 shares to the general public. Due to the number of applications exceeding the demand, the shares will be distributed according to the securities distribution guidelines.

As against the total number of applicants, only about 347,490 applicants will get shares at the rate of 10 shares per person. This means, there is a possibility that the remaining 25 lakh 66 thousand applicants will not get shares this time.