United Idi-Mardi and R.B. Hydropower's IPO oversubscribed 5.36 times on the second day; How many applicants applied?

Thu, Nov 19, 2020 4:38 PM on IPO/FPO News, Latest,

United Idi-Mardi and R.B. Hydropower has opened its IPO issue from yesterday.

The company has issued 8,73,910 units (including 2,43,910 units unsubscribed by locals) worth Rs 8.73 crore as Initial Public Offering to the general public from yesterday, i.e. Mangsir 3.

Out of the offered 8,73,910 units; 17,478 units have been set aside for the employees of the company and 43,696 units have been set aside for the mutual funds. The remaining 8,12,736 units are for the general public. Applications can be placed for a minimum of 10 units and a maximum of 10,000 units.

Global IME Capital Limited is the issue manager for IPO issuance. According to the issue manager, the issue has received 2,20,497 applications for 43,60,520 units as of 4:30 pm. Thus, the issue is oversubscribed by a little over 5.36 times on the second day in terms of the volume of applicants. If one looks at the number of applicants, the issue received significant interest from investors, given that only 81,273 applicants will get 10 units each via lottery.

Note that rejected applications are not included in this data.

This IPO issue will close on Mangsir 07.