United Modi Hydropower Limited is refunding excess money collected from investors from today (Kartik 24, 2073).
The non-allotted investors have to visit their respective collection centers with receipt to collect their refund money through account payee cheque. Letter of authorization along with photocopy of identity card of authorized person must be presented if the investors cannot collect their money themselves.
Applicants who had provided their account number of Nepal Investment Bank Limited (NIB), Global IME Bank Limited (GBIME) and Deva Bikas Bank Limited (DBBL) will get their refund money directly deposited in their respective accounts.
The small investors of the project affected areas were allotted 20.12% whereas big investors were allotted 5.20% of the total investment.
Of the total 11, 50,000 unit shares set aside for local resident. 40% or 460,000 units shares, were put aside for retail investors and 60% or 690,000 shares, under “other investor” category. Retail investors applied for a total of 22, 85,990 unit shares and those in the others category demanded 13,262,600 units shares. The retail investors’ side was oversubscribed by 4.97 times, whereas other investors’ side was oversubscribed by 19.22 times.