Singati Hydro Energy’s IPO to distribute on Friday

Kathmandu, April 6

Singati Hydro Energy Limited is preparing to distribute the issued IPO on Friday. If there are no technical problems, pre-allotment will be done on Wednesday and distribution will be done on Friday, said sales manager Mega Capital.

The company had issued 29 lakh IPOs from Chaitra 6 to Chaitra 10. Out of which, 58,000 shares were distributed for employees and 145,000 shares for collective investment funds and the remaining 26 lakh 97 thousand shares were issued to the public.

In the IPO issued by the company, applications have been received for 2,45,16,600 lots from 1,624,483 applicants. This application is 9.09 times more than the demand. The company has already distributed 14 lakh 5 thousand ordinary shares to the locals of the project-affected areas on Falgun 17. After issusing IPO the company’s capital has raised to Rs. 1 arba 45 crore.