Solu Hydropower Limited is set to distribute its Initial Public Offering (IPO) shares to the public this Monday. The allotment process is currently being finalized by the issue managers, Nabil Investment and Himalayan Capital, after receiving an overwhelming response from investors.
Subscription Overview and Allotment Date
The issue managers have confirmed that the final allotment of Solu Hydropower’s IPO will take place on Monday. According to the final data, a total of 2,570,422 applicants applied for 31,708,390 units of shares. This means the IPO was oversubscribed by approximately 3.86 times the total units offered.
Distribution to General Public
Based on the subscription figures, the shares will be distributed through a lottery system. Out of the millions who applied, only 820,000 applicants will be lucky enough to receive 10 units of shares each. The rest of the applicants will not be allotted any shares.
Total IPO Structure
Solu Hydropower was granted permission to issue a total of 2 Crore (20 million) units of shares at a par value of Rs 100 per share. The distribution of these units was structured as follows:
- Project Affected Locals: 1 Crore units
- Foreign Migrant Workers: 10 Lakh units
- General Public: 82 Lakh units
The allotment on Monday will specifically distribute the 82 Lakh units allocated for the general public.
Disclaimer: This news is originally written in Nepali, translated with the help of AI and editorially reviewed.