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Himalayan Power Partner IPO collects Rs 1.50 arba from 34k applicants till second day; Beneficial to apply only Rs 5,000; No lottery this time

- ShareSansar, June 18, 2017  on Featured , IPO News , Latest , Stock Market
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Himalayan Power Partner Limited has been issuing 21,30,834 unit shares worth Rs 21.30 crore as part of its Initial Public Offering (IPO) for the general public from Ashad 1, 2074 at face value of Rs 100 per share.

As per an official of Global IME Capital Limited, issue manager of the IPO, “The total collection of the IPO is Rs 1.50 arba (oversubscribed by 7.61 times) till second day. Around 34,317 application forms were received.

The IPO has collected Rs 18.12 crore from 4,795 regular applications and Rs 72.52 crore from ASBA collections on the second day. “10,025 applicants submitted the application via ASBA forms and 4,531 applicants submitted via regular application forms”, added the official.

The hydropower company has set aside 42,617 unit shares for its employees and 5% or 1,06,542 unit shares for the 10 mutual fund companies. The company has set aside 19,81,675 units shares for the general public.

How much to apply?

The hydropower company has set aside 19,81,675 units shares for the general public. As per the statements from SEBON and the issue manager, the allotment will most probably exceed Asadh and the new allotment guideline will be applicable. Under this, 10 units shares have been reserved for each applicant. So, if the number of applications does not exceed 1,98,167, all applicants will receive a minimum of 10 units shares without lottery.

So, it is sensible to apply minimum amount i.e. Rs 5,000 for 50 units in this IPO.

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