The IPO allotment of Madhya Bhotekoshi Jalavidyut Company Limited has been scheduled to take place this Friday, i.e. Kartik 12. The allotment program will commence at the premises of the issue manager Global IME Capital starting at 9 am that day.
The company opened its IPO issue for 90,00,000 unit shares worth Rs 90 crore from Ashwin 20 to Ashwin 25. Out of the offered 90,00,000 units; 4% of the total offered shares to the general public i.e. 3,60,000 units were set aside for the employees of the company and 5% for mutual funds. The remaining 81,90,000 units were for the general public.
According to the issue manager, 2,393,428 applicants applied for a total of 34,360,010 units. Thus, the issue was oversubscribed over 4.19 times till closing day. Looking at the data, approximately 1 in every 3 applicants have the probability of being allotted with 10 units each. More than 15 lakh applicants will return empty-handed.