The IPO shares of Madhya Bhotekoshi Jalavidyut Company Limited will probably be listed this week, says share registrar Global IME Capital.
The IPO allotment of the company concluded more than a month ago. Madhya Bhotekoshi Jalavidyut Company Limited had issued 90,00,000 units worth Rs 90 crore as Initial Public Offering to the general public from (Ashwin 20-25, 2078). Out of the offered 90,00,000 units; 4% of the total offered shares to the general public i.e. 3,60,000 units were set aside for the employees of the company and 5% for mutual funds. The remaining 81,90,000 units were for the general public.
The issue had received applications from 22,94,496 valid applicants who had applied for a total of 3,19,41,790 units. The issue was oversubscribed by more than 3.9 times. As per the allotment module, a total of 8,19,000 applicants were allotted 10 units each via lottery, and the remaining 14,75,496 applicants returned empty hands. A total of 3,60,000 units were allotted to the staff of the company and 4,50,000 units were allotted to the mutual funds. In total 95,722 applicants who applied for 22,41,500 units were invalid.
The share registrar Global IME Capital told Sharesansar that the application has been submitted to CDSC. After the share registrar receives an approval letter from CDSC, which they expect to receive today or tomorrow, they will submit the listing application to NEPSE. The shares will then be listed right away.