United Modi Hydropower IPO allotment of 17.25 lakh unit shares tomorrow; allotment being concluded in 38 days

The allotment of shares under the Initial Public Offering (IPO) of United Modi Hydropower Company Limited will be made public on Chaitra 31, 2073 (tomorrow). The shares are being allotted in 38 days of the last day of IPO issue. Mr. Badri Pyakurel, Merchant Banking Head of NIBL Capital Markets Limited said, “The allotment of the IPO will take place tomorrow at 9 AM at the premises of NIBL Capital located at Lazimpat, Kathmandu.” United Modi Hydropower Limited had issued 17,25,000 units shares worth Rs 17.25 crore to the general public as a part of their Initial Public Offering (IPO) from Falgun 19, 2073 till Falgun 23, 2073. The IPO had collected Rs 4 arba and was oversubscribed by more than 24.93 times till last day from regular applications only. The company has set aside 16,04,250 unit shares to the general public, 34,500 shares for its staffs and 86,250 shares for mutual funds. Interested people were required to apply for a minimum of 50 units and for a maximum of 15,000 units shares. United Modi Hydropower Limited had issued 11, 50,000 units shares worth Rs 11.50 crore for the local people of Parbat district from Bhadra 26 to Ashwin 9, 2073. The paid up capital of United Modi Hydropower Limited currently stands at Rs 97.75 crore. After the IPO, their paid up capital will reach Rs 1.15 arba, and the shareholding ratio of promoter – people of the affected area – general public will be 75%-10%-15%.