United Modi Hydropower IPO collects Rs 1.71 arba till third day; oversubscribed by more than 10.65 times from regular applications only


    United Modi Hydropower Limited has been issuing 17,25,000 units shares worth Rs 17.25 crore to the general public as a part of their Initial Public Offering (IPO) from Falgun 19, 2073. Today is the last day of the IPO.

    As per an official of NIBL Capital Markets Limited, the issue manager for the IPO, the issue has collected around Rs 1.71 arba (Oversubscribed by 10.65 times) till third day from regular applications only. Around 30,500 application forms were received. Collections from ASBA applications will only be known after 4 days.

    The company has set aside 16,04,250 unit shares to the general public, 34,500 shares for its staffs and 86,250 shares for mutual funds.

    Interested people were required to apply for a minimum of 50 units and they can apply for a maximum of 15,000 shares. Applicants can also apply from more than 1,971 branches of ASBA-approved banks in 73 districts around Nepal.

    United Modi Hydropower Limited had issued 11,50,000 units shares worth Rs 11.50 crore for the local people of Parbat district from Bhadra 26 to Ashwin 9, 2073. The paid up capital of United Modi Hydropower Limited currently stands at Rs 97.75 crore. After the IPO, their paid up capital will reach Rs 1.15 arba, and the shareholding ratio of promoter – people of the affected area – general public will be 75%-10%-15%.

    Source: The Share Sansar