Singati Hydro's IPO Oversubscribed Over 1.5 Times on First Day Itself; How Many Applicants Have Applied?

Singati Hydro Energy Limited has opened its IPO to the general public from today, i.e. 6th Chaitra. The issue will close on 10th Chaitra, 2077. If the issue is not subscribed by the early closing date, the deadline can be extended up to Chaitra 20.

The company has a total of 1.45 crore registered shares of which 29 lakh shares have been 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 have been 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 are purely for individual investors. Investors can apply for a minimum of 10 units and a maximum of 2,00,000 units.

Mega Capital Markets Limited has been appointed as the issue manager for the IPO issuance.

The company is issuing 43,50,000 units IPO shares, out of which 14,50,000 units share is already offered to locals of project affect areas in the first phase and the remaining shares are now offered to the general public in the second phase.

After the issuance of shares to locals and general public company capital will be Rs 1.5 Arba and public and promoter shares holding will be 70:30.

According to CDSC, the IPO has received 2,42,861 applications for a total of 40,83,540 units. This is data as of 5 pm today. Thus, the issue is already oversubscribed over 1.5 times. It seems highly likely that the company may have to allot 10 shares per applicant.