Barun Hydro IPO allotment concludes; Below Rs 91,000 thru lottery

ShareSansar, April 23:

Barun Hydropower Company Limited concluded its IPO allotment today. ShareSansar will publish the full IPO result on its website soon.

As per the allotment module, while each of the investors who had applied for shares worth above Rs 91,000 got 10 shares, the fate of investors who had applied for shares worth Rs 90,000 or below was decided through lottery.

Investors who were selected through lottery system were also allotted 10 shares each.

Barun Hydropower Company Limited had started floating its Initial Public Offering (IPO) from March 1 which lasted till March 4.

The company had floated a total 4,86,000 units of ordinary shares at face value of Rs 100. The company has allocated 24,300 units shares for the mutual funds, 9,720 units for the staff members of the hydro power company and 4, 51,980 units for general public.

The IPO of Barun Hydropower was oversubscribed 95 times and the offer collected Rs 4 arba 41 crore, much more than what it had planned to raise.