Universal Power Company Limited (UPCL) has successfully concluded its initial public offer (IPO) on Wednesday morning at 10 AM today, 27th February 2019 (15th Falgun 2075). The company had floated its total IPO issues of 93,27,410 unit shares worth of Rs 932 million at the face value of Rs 100 per unit share to the general public initially for four working days, starting from Friday 8th February 2019 (25th Magh 2075) to Tuesday 12th February 2018 (29th Magh 2075) and since due to under subscription later extended for an additional 7 working days upto until full subscription by Wednesday 20th February 2019 (8th Falgun 2075) just last week.
According to Siddhartha Capital Ltd., its issue manager, the IPO was closed after its full subscription by about 1.06 times, attracting 105,159 applications from the public. Of the total applications, 40 applications for 3,160 unit shares were rejected due to errors and the remaining 105,119 valid applications were included in the allotment process of which applicants for 50 to 1,300 unit shares were allotted in full as per their demand, while applicants for 1,500 to 10,000 unit shares were allotted 1,350 unit shares each on pro rata basis, thus leaving none empty handed.
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