Madhya Bhotekoshi Jalavidyut Company has concluded the allotment program for its recently-concluded IPO issue to locals. The allotment program was held at the premises of the issue manager's office in Naxal, Kathmandu, starting at 9 am.
The hydropower company recently concluded the IPO issue of 60 lakh units to locals of the project-affected area. The company had resumed its IPO process from Shrawan 5, 2078 for the project affected locals of Sindhupalchowk district which was earlier halted on Baisakh 25, 2078. While the issue was supposed to close on Shrawan 17, the deadline was extended till Shrawan 32 since the issue was not fully subscribed by the early closing date.
According to the issue manager Global IME Capital, 1,01,028 applicants applied for a total of 1,93,25,780 units. This is the data after the issue concluded on Shrawan 32. Note that this is the combined data from collection centers and ASBA. Thus, the issue was oversubscribed over 3.22 times in terms of the number of units.
Applicants from the project-affected area applying for up to 180 units have got the quantity they asked for. Nonetheless, 2,313 applicants applying from 190 units to 400 units have each received 10 units extra via lottery.
Meanwhile, locals of Sindhupalchowk district other than those in the project-affected area applying from 10 to 40 units have got the quantity they asked for. Nonetheless, 40,548 applicants applying from 50 units to 400 units have each received 10 units extra via lottery.
The IPO shares allotted to locals will be in the locking period for 3 years after IPO allotment to the general public. The locals who are allotted the shares can't sell them during the locking period.