Sanima Mai HydroPower IPO allotment scheduled for today

ShareSansar July 2:

NCM Merchant Banking Limited, an issue manager for Sanima Mai Hydropower Company’s IPO is all set to make an allotment today (18th Ashad 2070).

The company has issued 1,055,000 units of shares at a face value of Rs 100 per unit, worth Rs 105.5 million, for the local’s resident in Ilam district. Out of Rs.105.5 million, Rs.0.633 million i.e. 60% was set aside for local people residing in 9 VDC of project affected area and remaining Rs.0.422 million i.e. 40% was set aside for Ilam Metropolitan and other 38 VDC of the same district.

Earlier, the company has issued its share on 29th Baisakh and closed on 14th Jestha 2070.

As per the source, it is most likely that the allotment module for the project affected area investors which includes 9 VDC of the Illam district will get 100% of their investment; whereas Illam Metropolitan and other 38 VDC investors may get only 40-45% of their overall IPO investment.

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