Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The IPO allotment of Singati Hydro Energy Limited has concluded today.
As per the allotment module, a total of 2,69,700 applicants were allotted 10 units each via lottery, and the remaining 12,90,102 applicants were returned empty hands.
The company opened its IPO to the general public from 6th Chaitra. The issue closed on 10th Chaitra, 2077, at the end of banking hours. The company has a total of 1.45 crore registered shares of which 29 lakh shares were issued in this IPO. Thus, the IPO will raise a total of Rs. 29 crores in paid-up capital.
Out of the offered 29,00,000 units; 2% of the issue, i.e. 58,000 units were set aside for the employees of the company and another 5% to mutual funds i.e 1,45,000 units. The remaining 26,97,000 units were purely for individual investors.
The issue had received applications from 15,59,802 valid applicants who had applied for a total of 2,27,68,260 units. The issue was oversubscribed by more than 8.47 times.
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