28th August 2022, Kathmandu
Peoples Power Limited has allotted the recently issued initial public offering (IPO) today on the premises of Prabhu Capital, the issue manager of the company.
Out of 2,467,400 units of ordinary shares issued at a face value of Rs. 100 per unit from August 16-21, the company secured 49, 348 units i.e 2% to its employees, and 123,370 units i.e 5% of total units to mutual funds. The remaining 2,294,682 units were issued to the public.
A total of 1,551,413 applications were received as per the capital. Given that the issue was oversubscribed, the allotment took place as per Securities Issuance and Allotment Guidelines.
Under this, only 229,468 applicants were provided 10 units of shares. Out of them, 2 lucky applicants were also provided one additional unit.
