Home / News / IPO allotment of Ru Ru Jalbidhyut Limited concludes; lucky 37,916 investors get 10 units each

IPO allotment of Ru Ru Jalbidhyut Limited concludes; lucky 37,916 investors get 10 units each

The IPO allotment of Ru Ru Jalbidhyut Limited is concluded today i.e. 2078/01/03 in the premises of issue manager NMB Bank Limited at 08:30 A.M.

The company opened its IPO to the general public from 20th Chaitra. The issue closed on 24th Chaitra, 2077, at the end of banking hours. The company had issued 4,07,706 unit shares to the general public at Rs 120 per share including Rs 20 as a premium amount.

2% of the issue, i.e. 8,154 units have been set aside for the employees of the company and another 5% to mutual funds i.e 20,385 units. The remaining 3,79,167 units are purely for individual investors. The issue had received applications from 15,90,896 valid applicants who had applied for a total of 2,18,76,610 units. The issue was oversubscribed by more than 8.47 times.

As per the allotment module, a total of 37,916 applicants were allotted 10 units each via lottery, and the remaining 15,52,980 applicants were returned empty hands. The 7 lucky applicants get 1 unit extra.

A total of 8,154 units were allotted to 26 staff of the company and 20,385 units allotted to mutual funds.

8,535 applicants who applied for 1,20,750 units were disqualified as per the issue manager. A total of 83,690 applicants who applied for 15,49,080 units was rejected from ASBA BFI’s. There was a total of 24,108 suspected applicants.IPO is issued in two phases, first to locals (already issued) and now to the public, the promoter: public shareholding ratio of the company will be 80:20.

ICRA Nepal has assigned a grading of [ICRANP] IPO Grade 3, indicating average fundamentals, to the proposed initial public offering (IPO) of NPR 89.695 million of Ru Ru Jalbidhyut Pariyojana Limited.

-SS Pro

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