United Modi IPO collects Rs 4 arba till last day; IPO oversubscribed by more than 24.93 times from regular applications only

- ShareSansar, March 9, 2017  on Featured , IPO News , Latest , Stock Market

United Modi Hydropower Limited had issued 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 till Falgun 23, 2073.

The IPO has been oversubscribed by more than 24.93 times till last day from regular applications only.

As per an official of NIBL Capital Market Limited, “The total collection of the IPO is approximately Rs 4 arba till last day. Around 64,500 application forms were received till date. It is only from regular applications since collection from ASBA application has not been revealed yet. Final data will vary after ASBA collections are known.”

DaysTotal Collection (Rs)Number of Application Forms
First day39 crore7,500
Second day50 crore7,600
Third day89 crore15,400
Fourth day2 arba 22 crore34,000
Total 4 arba64,500

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%.