IPO Allotment for Locals Completed: Ru Ru Jalbidhyut Pariyojana Allots Shares As High As 30 Units Per Applicant

Tue, Mar 23, 2021 11:43 AM on Latest, IPO/FPO News, IPO/FPO Result News,

Ru Ru Jalbidhyut Pariyojana Limited has allotted its 4,07,705 unit IPO shares to the project affected local residents of Gulmi District. The allotment concluded on 9th Chaitra, 2077.

The company had issued 4,07,705 unit IPO shares to the project-affected locals of Gulmi District from Falgun 7, 2077. The company has a total of 40,77,055 shares registered of which 4,07,705 unit shares were issued to the locals at the rate of Rs. 100.

NMB Capital Limited was the issue manager for the IPO issuance. According to CDSC, 18,093 locals applied for a total of 24,17,640. Considering the difference in the volume of applications received and the actual quantity of shares issued, it seems that the locals of the area have enough faith in the company.

The company is going to refund money to non-allottee investors. According to the issue manager, the highest quantity of shares allotted to an individual in this issue is 30 units.

Meanwhile, 4,07,706 units will shortly be issued to the general public at a premium rate of Rs. 120.

After the IPO is issued in two phases, first to locals and then to the public, the promoter: public shareholding ratio of the company will be 80:20, and paid-up capital will be Rs 40.77 crore.