Will Singati Hydro open its IPO for general Public??

Kathmandu, March 2

Singati Hydro Energy Limited has allotted its 14,50,000 units  of IPO shares. From Magh 4, it issued its IPO to the locals residents of Bigu Rural Municipality and Kalinchowk Rural Municipality of Dolakha Districts which was supposed to close on Magh 18.

According to the issue manager Mega Capital, the IPO issue for the general public will most probably open on Chaitra 06. 

Since the IPO issue was still undersubscribed, the deadline was extended to Falgun 3, 2077. The IPO received applications from 19,282 individuals is worth Rs 17.45 crore; 20.37% more than the total volume of the shares issued.

In the allotment, locals who applied from 10 units to 490 units have got all the shares. Meanwhile, 299 lucky applicants have received 500 units each.

The company will issue a total of 43,50,000 units of IPO shares, out of which 14,50,000 units of shares have been offered to locals in the first phase and the remaining shares will be offered to the general public later in the second phase. After the issuance of shares to locals and the general public, the company’s paid-up capital will be Rs 1.5 Arba, and the public and promoter shareholding ratio will be 70:30.