Sayapatri Hydropower IPO Allotment to be Concluded on Tuesday at 9:30 AM; 67,058 Lucky Applicants will Get 10 units Each

The IPO allotment of Sayapatri Hydropower Limited (SPHL) will take place this Tuesday, i.e. Sharwan 24, 2079. The allotment program will be held on the premises of the issue manager NIBL Ace Capital, starting at 9:30 am that day.

The company issued its IPO issue of 721,060 units ordinary shares worth Rs 7.21 crore to the general public from 13th Shrawan to 17th Shrawan. Out of the total 721,060 units; 2% of the total offered shares i.e. 14,421 units have been set aside for the employees of the company and 5% of the total offered shares i.e. 36,053 units have been set aside for the mutual funds. The remaining 670,586 units were for the general public.

According to data presented by CDSC, the issue has received approx 15,57,702 applications applying for a total of 1,76,77,610 units of shares till last day. The issue has been oversubscribed by almost 26.36 times.

Looking at the data, it is apparent that only 67,058 lucky applicants will get ownership of the company.