All 4,40,00,000 shares of Shivam Cements Limited (SHIVM) have become tradable from today.
Shivam Cements issued an Initial public offering (IPO) for project affected locals and the general public at a premium price.
The company issued 10% of the capital for the general public and 2% for locals. However, since the issue was floated at a premium price, it got undersubscribed and took multiple phases to be fully subscribed.
The company issued 10% of the issued capital i.e. 44 lakh unit shares to the general public at Rs 300 per unit (Rs 200 premium added on Rs 100 face value per share). Out of the total issuance, 2,20,000 units were allocated for employees of associated organizations and another 2,20,000 units…
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