Union Hydropower allotment concludes; valid applicants fully allotted shares, remaining 1.23 Lakh shares allotted to the underwriters

The IPO allotment of Union Hydropower Company Limited took place today at the premises of Laxmi Capital.

As per the issue manager Laxmi Capital Limited, 45,462 applicants have applied for 3,410,810 units till closing. This is the final and verified data, and mentioned number of applicants will go for allotment. There has been variation in data due to high number of disqualified applicants.

As per the allotment module, since the issue has remained undersubscribed, all valid applicants have been fully allotted shares as per demand. The remaining 123,530 units of shares have been allotted to the underwriters of the issue, Laxmi Capital and Prabhu Capital in the predetermined rate.

Earlier, the company had issued 750,000 lakh units (10% of the issue capital) to the locals of the project affected of Lamjung district. Out of the total issue only 128,219 units were subscribed by the locals and 621,790 units remain under subscribed.