Solu Hydropower Limited has completed the allotment of its IPO issued to the general public, with 820,000 applicants receiving shares through a lottery system due to oversubscription.
The allotment of the Initial Public Offering (IPO) issued by Solu Hydropower Limited to the general public was completed on Monday. The share allotment was carried out by the issue and sales manager, Nabil Investment Banking Limited, at its office.
The company had issued 82 lakh shares to the general public from Poush 29 to Magh 4 (B.S.). By the final day of application, a total of 25,70,422 applicants had applied for 3 crore 17 lakh 8 thousand 390 shares, which was approximately 3.86 times higher than the number of shares on offer.
As per the IPO allotment guidelines, shares were distributed through a lottery system, under which 8 lakh 20 thousand applicants received 10 shares each. The remaining 17 lakh 40 thousand 422 applicants did not receive any shares.
Solu Hydropower Limited had received approval to issue a total of 2 crore IPO shares at a face value of Rs 100 per share. Out of this, 1 crore shares were allocated to project-affected local residents, while 10 lakh shares were issued to Nepalis employed abroad. From the remaining 90 lakh shares, the company reserved 5 lakh shares for mutual funds and 3 lakh shares for employees, opening the remaining 82 lakh shares for the general public.
How to check IPO results?
1.Nabil Investment Banking Limited
Applicants will be able to view the results by entering their bid DP ID and other details.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
