Singati Hydro Energy Limited will allot its IPO shares tomorrow.
The company opened its IPO to the general public from 6th Chaitra. The issue closed on 10th Chaitra, 2077, at the end of banking hours. The company has a total of 1.45 crore registered shares of which 29 lakh shares were issued in this IPO. Thus, the IPO will raise a total of Rs. 29 crores in paid-up capital.
2% of the issue, i.e. 58,000 units were set aside for the employees of the company and another 5% to mutual funds i.e 1,45,000 units. The remaining 26,97,000 units were purely for individual investors. The company issued 43,50,000 units of IPO shares, out of which 14,50,000 units of shares were already offered to locals of project affect areas in the first phase and the issue for the remaining shares is now closed.
According to CDSC, the IPO received 16,22,721 applications for a total of 2,47,10,880 units. This is data as of 5: 00 pm after the issue closed. Thus, the issue is oversubscribed over 9.16 times and has received the second-highest volume of applications in an IPO issue ever, second only to the record-breaking number of applicants in the IPO issue of Jyoti Life Insurance. The lottery is confirmed for 10 units each to lucky 2,67,700 applicants.
Mega Capital Markets Limited was appointed as the issue manager for the IPO issuance. The allotment will commence tomorrow at 11 am. The issue manager is planning to stream the program live via its Facebook page.