Rairang Hydropower IPO Allotment Just Done! Stay Updated with NepalStockNews for Your Result !!

IPO RESULT

The IPO allotment of Rairang Hydropower Development Company Ltd. is finally done for today morning at around 8:30 AM, Wednesday 22rd May 2018 within the premises of its office as per the officials of NIBL ACE Capital Ltd., its issue manager. Since the IPO was oversubscribed by more than 18 times, the allotment was done by lottery system and more than 91,000 didn't get the IPO share. The lucky ones to get 10 unit IPO shares are 76,440 (43.56%) applicants.

The IPO was issued for 4 days starting from Monday 14th May 2018 and ending on Thursday 17th May 2018. The company floated 8.4 lakh unit shares at a face value of Rs 100. The allotment is delayed to 5 working days due to problems with C-ASBA software. That is beyond expected time since previously allotment of Arambha Microfinance IPO share was possible in 37 hours after the closure.

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Rairang Hydropower IPO Allotment by Lottery, Oversubscribed by 18.03 Times !

IPO ISSUE:

Rairang Hydropower Development Company Ltd. (RAIRANG) has collected nearly Rs 1,38,10,43,000 from the initial public offering (IPO) issue. This is 18.08 times the amount of unit shares offered to the general public. There are 1,77,386 applicants that had applied for the IPO. This is 1,00,986 times more than those getting the IPO. Due to oversubscription, the allotment will for sure go into the lottery system and only 76,400 lucky applicants will be allotted 10 unit shares.

Rairang had floated this IPO of 8,40,000 unit shares at the face value of Rs 100 per unit share. Of these, 33,600 (4%) unit shares had been set aside for the employees and 42,000 (5%) unit shares for the mutual funds. The remaining 7,64,400 (91%) unit shares were offered for the general public. The IPO issued amount was 15% of the total capital. NIBL ACE Capital had been appointed as the issue manager for the issue.

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