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The
Initial Public Offering (IPO) of Ridi Hydropower Development Company Limited
has been allotted today.
For the first time in the history of share market of the country, the issue managers have decided to put both groups of investors under the lottery system while allotting the primary shares amid at function at the company’s office at Trade Tower, Thapathali this morning.
Those who applied up to Rs 41, 000 under the small group as well as those who applied from Rs 51, 000 to 1 lakh 10 thousand have fallen under the lottery.
For the first time in the history of share market of the country, the issue managers have decided to put both groups of investors under the lottery system while allotting the primary shares amid at function at the company’s office at Trade Tower, Thapathali this morning.
Those who applied up to Rs 41, 000 under the small group as well as those who applied from Rs 51, 000 to 1 lakh 10 thousand have fallen under the lottery.
This means that even those who applied for more than Rs 1 lakh may not get ten
units of shares.
The IPO has been tentatively allotted at 2.23 percent for the small group and 0.94 percent of the big one.
The allotment model was designed in such a way since there were overwhelming applications for the both the retail and the other groups, according to the issue managers Civil Capital and Elite Capital (now Global IME Capital).
Ridi hydropower’s IPO of 11.70 lakh units, was oversubscribed by 81.71 times, according to the final compiled data.
There were 81,477 valid applicants and only 315 invalid ones, according the issue managers.
Ridi had issued the IPO at the face value of Rs 100 per unit on February 16.
The IPO being managed by Civil Capital Market Limited and co-managed by Elite Capital Limited had close on February 20.
Of the total units of the primary shares, 58,500 units were kept aside for Nabil Balanced Fund-1, SIG1 and Nagarik Ekanaga Yogana, and additional 23,400 units were reserved for the hydropower's staff.
It may also be noted that Ridi had earlier issued the IPO for 3 lakh unit equity shares to the local residents affected or in the vicinity of the 2.4 MW Ridi Khola Small Hydropower Project in October last year.
The IPO has been tentatively allotted at 2.23 percent for the small group and 0.94 percent of the big one.
The allotment model was designed in such a way since there were overwhelming applications for the both the retail and the other groups, according to the issue managers Civil Capital and Elite Capital (now Global IME Capital).
Ridi hydropower’s IPO of 11.70 lakh units, was oversubscribed by 81.71 times, according to the final compiled data.
There were 81,477 valid applicants and only 315 invalid ones, according the issue managers.
Ridi had issued the IPO at the face value of Rs 100 per unit on February 16.
The IPO being managed by Civil Capital Market Limited and co-managed by Elite Capital Limited had close on February 20.
Of the total units of the primary shares, 58,500 units were kept aside for Nabil Balanced Fund-1, SIG1 and Nagarik Ekanaga Yogana, and additional 23,400 units were reserved for the hydropower's staff.
It may also be noted that Ridi had earlier issued the IPO for 3 lakh unit equity shares to the local residents affected or in the vicinity of the 2.4 MW Ridi Khola Small Hydropower Project in October last year.
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