IPO in Pipeline: Nyadi Hydropower Limited appoints CIT as its underwriter

Nyadi Hydropower Limited is issuing an IPO of 40.50 lakh units of shares. 

From the total units issued, 15 lakh units are reserved for project-affected locals and 3 lakh units are reserved for promoters. The remaining 22.50 lakhs will be open to the general public. 

From the 22.50 lakh units allocated for the general public, 1,12,500 units will be reserved for mutual funds and 45,000 for employees. Thus, only the remaining 20,92,500 units will be available for application by individual investors. 

Citizen Investment Trust is appointed as the underwriter of the IPO issue. Basically, an underwriter is an institution that pledges to buy all the shares of an issue that are unsold. 

CRNL has assigned grading of ‘CARE-NP IPO Grade 4’ to the proposed Initial Public Offer (IPO) of Nyadi Hydropower Limited (NHL).