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Singati Hydropower to distribute IPO on Friday

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Singati Hydropower to distribute IPO on Friday

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Singati Hydropower to distribute IPO on Friday

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KATHMANDU: Singati Hydro Energy Private Limited is distributing its primary shares on Friday, according to Mega Capital Markets Limited, the issue manager.

A total of 1,635,537 applicants had applied for 24,665,640 units of shares worth Rs 2,466,564,000. This demand is higher by 9.34 percent than the initial public offerings issued for the people in general.

Based on this statistics, 264,000 subscribers will obtain 10 units each while the remaining 1,371,537 applicants will be deprived of shares.

The company had issued a total of 2.9 million units of shares for Rs 100 per unit, i.e., 20% of the total issue from March 19.

Out of the total of 2.9 million units, 145 thousand units i.e. 5% are for the Mutual Fund, 2%, i.e. 58 thousand units  for the employees of the company, and the remaining 2.697 million units are for the general-public.

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