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IPO Allotment of Singti Hydropower at Friday 11 AM

News 08 Apr 2021 3279 0

Singati Hydropower IPO

IPO Allotment of Singti Hydropower at Friday 11 AM:

The IPO of Singti Hydropower will be distributed (allotment) on Friday. The IPO allotment will be held at 11:00 am on Friday at the office of the company's share issue and sale manager Mega Capital. The company had sold 2.9 million IPOs at the rate of Rs 100 per share since March 20. Of that, 5 percent or 154,000 shares were distributed to collective investment funds, and 2 percent or 58,000 shares were distributed to employees. The sale of the remaining 26 lakh 97 thousand lots was opened to the public.

The company has received applications from 1,523,450 applicants for the purchase of 2,47,20,450 shares in the IPO. The company has issued 2.69 million shares, which is more than 9.16 times the IPO.

As there are more applications than the demand, the company shares will be distributed at the rate of minimum of 10 shares. Accordingly, only 269,700 people will get shares at the rate of 10 shares. The remaining more than 1.2 million applicants will not get the shares.

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