IPO Allotment and Result of Suvam Power Limited | 13.64 lakh applicants contributed Rs. 1.51 Arba to the Shuvam Power IPO | This is more than 31.37 times oversubscribed.
During their first public offering (IPO), Shuvam Power Limited (SHUVAM) distributed 481,882 units of shares to the general public for a total of Rs. 4.81 crores from Magh 18 to Magh 22 of 2079.
10%, or 58,058 units, of the total 580,580 units have already been released and allocated to Nepalese people living and working overseas. 2%, or 11,610 units, were set aside for the company’s workers, while 5%, or 29,030 units, of the total offered shares, were reserved for mutual funds. 481,882 copies were sold to the general public. After the IPO, the company’s paid-up capital will amount to Rs. 20 crores.
Up to the last day, 13,64,756 applicants submitted applications for 15,121,130 units valued Rs. 1.51 Arba, according to CDSC. As a result, as of closing day, the IPO had received more than 31.37 times the amount of units from ordinary applicants.
The IPO’s issue manager was chosen to be Muktinath Capital Limited. A minimum of 10 units and a maximum of 5,000 units were available for application.
IPO Allotment and Result of Suvam Power Limited
A public limited company named Shuvam Power Limited was established on December 29, 2015. The 0.99MW run-of-the-river Lower Piluwa Khola Small Hydroelectric Project (LPKHP), located in the Sankhuwasabha District, is operated by SPL and has been in service since July 17, 2011.
On April 15, 2008, the firm received a Generation License from the Ministry of Energy of the Government of Nepal.
Keep Visiting us.
Also, you may read,
Sanima Middle Tamor Closing the IPO Issue for Project Affected Locals from 19th of Magh
SEBON has finally approved the IPO proposals of the Dolti Power Company and the Bhugol Energy Development Company.