Arun Kabeli refunding IPO non-allottees from today; applicants having A/C in NIC Asia, Siddhartha, Janata & Kumari Bank to get refund in respective A/C

Arun Kabeli Power Limited is refunding excess money collected from investors from today  (Poush 11, 2073). It had floated 30, 00,000 unit shares worth Rs 30 crore as part of its IPO shares. The non-allotted investors have to visit their respective collection centers with receipt to collect their refund money through account payee cheque. Letter of authorization along with photocopy of identity card of authorized person must be presented if the investors cannot collect their money themselves. Applicants who had provided their account number of NIC Asia Bank Limited, Siddhartha Bank Limited, Janata Bank Limited & Kumari Bank Limited will get their refund money directly deposited in their respective accounts. Siddhartha Capital Limited was the issue manager for the IPO. Allotment for small investors who had applied from Rs 5,000 or 50 units to Rs 35, 000 or 350 units shares was decided through lottery; whereas above that from Rs 36,000 or 360 units till Rs 50,00 or 500 units investors were allotted 2.67% shares on a pro rata basis and big investors having more than 50 thousand investment were allotted 1.97% again on a pro rata basis. Of the total 1, 65,852 applicants, only 1, 19,433 investors got the shares. After the IPO, the paid up capital of the company will reach Rs 1.50 arba from the current Rs 1.20 arba which includes Rs 1.05 arba of promoter shareholders and Rs 15 crore collected from the project-affected area. The hydropower has authorized capital of Rs 1.50 arba.