Synergy Power IPO allotment concludes; up to 310 units decided through lottery, retail investors up to 500 units allotted 3.04%, others allotted 2.93% on pro rata basis

Synergy Power Development Limited has concluded its IPO allotment of 21 lakh units shares today at Sanima Capital Limited, Naxal, Kathmandu at 4:00 PM. Allotment for small investors who had applied from Rs 5,000 (or 50 units ) to Rs 31,000 (or 310 units) were decided through lottery. Retail investors who had applied from Rs 32,000 (or 320 units) till Rs 50,000 (or 500 units) were allotted 3.04% on pro-rata basis. Other investors who had applied for more than 500 units were allotted 2.93% on pro-rata basis. Investors who had applied for 500 units got 15 shares, whereas those who applied for 21,000 units got 616 shares. Out of the total 1,01,655 valid applicants, 71,489 investors got the shares. The shares set aside for retail investors was oversubscribed by 32.81 times and those set aside for other category was oversubscribed by 34.10 times. Synergy Power Development Limited had floated 21,00,000 units shares as part of its Initial Public Offering (IPO) to the general public from Poush 8 to Poush 13, 2073. The IPO had collected Rs 6.81 arba and was oversubscribed by 33.59 times. The hydropower company had set aside 3% or 63,000 unit shares for its employees and 5% or 105,000 unit shares for the 10 mutual fund schemes. The company had set aside 19,32,000 unit shares for the general public. Allotment Module There were 194 invalid applicants. Altogether, 44 staffs were allotted 63,000 unit shares and 7 mutual fund schemes were allotted 1,05,000 unit shares. Individual lottery results can be checked at ShareSansar’s IPO Result section later today. The hydropower company has an authorized capital of Rs 70 crore. After the IPO, the paid up capital has reached Rs. 70 crore from the current capital which includes Rs 42 crore promoter and Rs 7 crore collected from the IPO floated for project-affected area. After the IPO, the shareholding structure of promoters, public of the project-affected area (Dolakha district), and general public has reached 60%-10%-30%. Synegy Power Development Limited is developing 10MW Sipring Khola Hydropower Project in Dolakha district.