Synergy Power IPO allotment today at 4PM; IPO oversubscribed by 35 times


    Sanima Capital Limited, the issue manager for the IPO of Synergy Power Development Limited, will be allotting the 21 lakh unit IPO shares to the general public today at 4PM. The allotment will be held at the premises of Sanima Capital Limited, Naxal.

    Synergy Power Development Limited had floated 21,00,000 units shares as part of its Initial Public Offering (IPO) to the general public from Poush 8 to Poush 13, 2073. The IPO had collected Rs 6.81 arba and was oversubscribed by 35 times.

    The hydropower company has set aside 3% or 63,000 unit shares for its employees and 5% or 105,000 unit shares for the 10 mutual fund schemes: Nabil Balance Fund-1, NMB Sulav Investment Fund – 1, NIBL Sambriddhi Fund – 1, Laxmi Value Fund -1, Siddhartha Equity Oriented Scheme, Siddhartha Investment Growth Scheme- 1, Global IME samriddhi Fund-1, Nabil Equity Fund , NMB Hybrid Fund L-1 and NIBL Pragati Fund. The company has set aside 19,32, 000 unit shares to the general public.

    The hydropower company has an authorized capital of Rs 70 crore. After the IPO, the paid up capital will reach Rs. 70 crore from the current capital which includes Rs 42 crore promoter and Rs 7 crore collected from the project-affected area.

    After the IPO, the shareholding ratio of promoters, public of the project-affected area (Dolakha district), and general public will be 60%-10%-30%.

    Synergy Power is developing 10MW Sipring Khola Hydropower Project in Dolakha district.

    Source: The Share Sansar