How many have applied for Singati Hydro’s IPO so far ?

Kathmandu, March 21

The IPO issued by Singti Hydro Energy Limited has received a lot of applications till date.

According to Securities Sales Manager Mega Capital Markets Limited, a purchase application worth Rs 1.38 billion has been received in the IPO till 5 pm on Sunday. According to Capital, 8 lakh 79 thousand 710 applicants have applied for the purchase of 138 lakh 11 thousand 640 lots. Which is 5.12 times more than the total shares issued to the public.

The company has issued a total of 2.9 million IPOs at a face value of Rs 100. Of which, 2 percent i.e. 58,000 shares have been reserved for the employees while 5 percent of the 145,000 shares have been distributed to the collective investment funds. The general public will be able to apply for the remaining 26 lakh 97 thousand lots.

A minimum of 10 lots and a maximum of 200,000 lots can be applied for this IPO. Banks and financial institutions participating in the C-ASBA service and their branch offices can apply for this IPO by obtaining a certificate from the Securities Board of Nepal. The issuance of this IPO will take place on Chaitra 10 at the earliest and on Chaitra 20 at the latest after banking hours. The Securities Board of Nepal had given permission to Singati Hydro to issue a total of 4.35 million IPO lots for the project-affected and the public on Poush 29. In the first phase, the company had issued IPO worth Rs. 145 million for the residents of Bigu and Kalinchok villages of Dolakha district fromMagh 4 to Falgun 3.

The IPO is equivalent to 30 percent of the company’s paid-up capital. After the IPO sale, the company’s paid-up capital will reach Rs 1.45 billion.