Samling Power Company Limited will conclue its IPO allotment coming Tuesday, i.e. Kartik 16, preferably in the morning. The company recently concluded its IPO issue on 8th Kartik, 2078.
7,30,000 unit shares were issued at a par value of Rs. 100 per unit. This is 14.6% of the company's issued capital. 2% of the issue worth 14,600 shares were allocated for employees of the company and 5% worth 36,500 shares for mutual funds. The remaining 678,900 shares were purely for the individual public.
Nepal SBI Merchant Banking Limited was appointed the issue manager. According to CDSC, 22,65,698 applicants have applied for a total of 2,69,33,500 units. This is the data reported after the issue closed at 5 pm on the last day. Thus, the issue is oversubscribed over 39.67 times.
Looking at the data, it seems that only 67,890 lucky applicants will be allotted with 10 unit shares each. The remaining applicants will return empty-handed.