Api Power Company to refund money to applicants

ShareSansar, September 6: Api Power Company Limited will most probably refund excess money collected from investors from Sunday (Bhadra 20). As per SEBON rule, the money should be refunded within 5 days after allotment day. Api Power Company had allotted 30, 00,000 units IPO shares to the general public on 15th Bhadra, 2072. Api IPO had received a total of 1, 85,341 applications, resulting in an oversubscription by 38.20 times. Among the total applicants only 1, 48, 616 applicants were allotted shares. NIBL capital Market Limited is the issue manager. Of the total 28, 50,000 shares set aside for public, 40% or 1,104,000 shares, were put aside for retail investors and 60% or 1,656,000 shares, under “other investor” category. Retail investors applied for a total of 34,340,510 unit shares and those in the others category demanded 63,266 units. After the IPO, the promoter-people of affected area (Darchula and Baitadi) - public ratio in the company will be 60% to 10% to 30%.