Kathmandu. Solu Hydropower Limited’s IPO allotment is scheduled for January 26. Nabil Investment Banking Limited, the issue manager of the company, will issue the IPO at 9:00 am.
As of the last day, 25,70,422 applicants have applied for 3,17,08,390 units of shares worth Rs 3,170,08,39,000. That’s 3.86 times more than the demand.
The company has been allowed to issue a total of 20 million units at Rs 100 per share. Out of the total offered 10 million units to project affected people and one million units to foreign employment applicants. Out of the total offered shares, 5 lakh units have been reserved for mutual funds, 3 lakh have been reserved for the employees of the company and the remaining 82 lakh units have been reserved for the general public.
According to the IPO allotment guidelines, each applicant will get 10 units of shares, out of which only 8,20,000 will get shares and the remaining 17,40,422 will be empty-handed.
