United Modi Hydropower IPO allotment concludes; up to 330 units decided through lottery, retail investors up to 500 units allotted 2.8%, others allotted 2.24% on pro rata basis


    United Modi Hydropower Limited has concluded its IPO allotment of 17.25 lakh units shares today at NIBL Capital Markets Limited, Lazimpat, Kathmandu at 9:00 AM.

    Allotment for small investors who had applied from Rs 5,000 (or 50 units ) to Rs 33,000 (or 330 units) were decided through lottery. Retail investors who had applied from Rs 34,000 (or 340 units) till Rs 50,000 (or 500 units) were allotted 2.80% on pro-rata basis. Other investors who had applied for more than 500 units were allotted 2.24% on pro-rata basis.

    Investors who had applied for 500 units got 14 shares, whereas those who applied for 15,000 units got 337 shares. Out of the total 95,871 valid applicants, 65,508 investors got the shares.

    There were 1,230 invalid applicants. Also, 47 staffs were allotted 34,500 unit shares and 7 mutual fund schemes were allotted 86,250 unit shares.

    Overall, the IPO had collected Rs 6.58 arba from 97,155 applications.

    The shares set aside for retail investors (50 to 500 units) was oversubscribed by 35.40 times and those set aside for other category (more than 500 units) was oversubscribed by 44.21 times.

    Individual lottery results can be checked at ShareSansar’s IPO Result section later today.

    United Modi Hydropower Limited operates a 10MW Lower Modi-1 Hydropower project in Modi Khola of Parbat district. After the IPO, its paid up capital has reached Rs 1.15 arba. The shareholding ratio of promoter – people of the affected area – general public now stands at 75%-10%-15%.

    Refunds from Baisakh 5

    As per NIBL Capital, the non-allottees will be refunded their money from Baisakh 5, 2074. “NIBL Capital is awaiting confirmation from banks on the account numbers given by the applicants, so it can refund the money directly to banks. We will publish a separate refund notice soon with list of banks where we will directly transfer the excess amount”, said an official of NIBL Capital.

    Source: The Sharesansar