API to distribute IPO share certificates on Ashwin 28th at the earliest, if not then between Dashain & Tihar

8.5 MW API Power Company Limited had floated IPO of 30,00,000 unit shares of Rs 100 face value each from Ashad 24, 2072 which lasted for four days. The company is preparing to distribute IPO share certificates to its shareholders. NIBL Capital Markets Ltd. is the issue manager for the IPO offering of API Power Company Limited. An official with NIBL capital said, “The IPO share certificates of API Power Company Limited are in printing phase, after share certificates are printed, they need to be signed by the company representative. We are working to distribute the IPO share certificates by Ashoj 27/28,2072. If the aforementioned date cannot be met for various unforeseen reasons, then we plan to distribute it between Dashain and Tihar Festival.” The hydropower company had set aside 90,000 unit shares for its employees and 1,50,000 unit shares for the 6 mutual fund companies on pro rata basis and 28,50,000 unit shares for general public. Allotment for investors who had applied from Rs 5000 or 50 units to Rs 290,00 or 290 units shares was decided through lottery and remaining investors who had applied for Rs.30,000 or 300 units to Rs 50,000  or 500 units were allotted 3.2 % to 3.3 % on pro-rata basis. And the other investors applied for Rs 51,000 or 510 units to Rs 1,00,000 or 1, 000 units were allotted 2.5% to 2.6% on pro rata basis.