Allotment of Sanima Mai hydropower IPO over; shares allotted at 3.65% for small investors, 2.97% for big investors; up to 240 under lottery

ShareSansar, November 1:

The allotment of IPO equity shares of Sanima Mai Hydropower Limited has taken place today.

As less than 40 percent of the applicants were from the small group, the allotment was made at 3.65 percent for small investors, and 2.97 percent for the big investors.

Likewise, the applications for up to 240 units were put to lottery as minimum required 10 units had to be allotted to the allottees from the smaller group.

The 21.1 lakh unit of the IPO was oversubscribed by 31 times, the issue manager NIDC informed during the allotment held at Sanima Mai’s office at Naxal today afternoon.

Of the total 66,333 applications, only 65,752 applications were valid, which included 48,559 were from the small investors.

However, the investors will have to wait till the Tihar festival is over for the cash refund.

Click here for the the result.