Samata Microfinance and Synergy Power IPO allotment this week

Samata Microfinance Bittiya Sanstha Ltd. and Synergy Power Development Ltd. had floated their initial public offering (IPO) in Poush. The allotment of the IPOs is set to conclude this week. As per an official of NIBL Capital Markets Limited, the issue manager for IPO of Samata Microfinance, the allotment will happen on Falgun 4, 2073. The IPO, worth Rs 94.80 lakh, had collected Rs 1.87 arba from 86,700 applicants. Similarly, Synergy Power Development Ltd. should also be allotting the IPO shares this week. The issue had collected around Rs 6.81 arba from 1,28,580 applicants and was oversubscribed by 35 times. As per the provision, the IPO allotment should conclude within 50 days of the last day of the IPO issue (Falgun 5, 2073). After these two allotments, over Rs 8.46 arba worth of excess money will be refunded to the non-allottees from next week. Last week, SEBON had directed the issue managers of Nepal Life Insurance FPO and Forward Microfinance IPO to conclude allotment before Falgun 13, 2073. As such, over Rs 67.54 arba liquidity will flow back to the market within the month of Falgun.