Himalayan Power Partner Allocates IPO

Jul 19, 2017 Merolagani

 Himalayan Power Partner (HPPL) has allocated its initial public offering (IPO) today. The company allocated its IPO as per the Securities Issue and Allotment Guidelines 2074 under which all duly filled applicants were allocated 10 units of shares.

 

According to Global IME Capital, issue manager of the company, 163,737 share applicants who duly filled share application forms are provided 10 units of shares each. The capital informed that share applications of 1264 applicants were canceled.

The company issued 1,981,675 units of IPO to the general public. After allocating 10 units of shares to all applicants, the remaining shares were distributed as per the lottery system.

Out of the total duly filled applicants, 34,460 share applicants acquired additional 10 units of shares through the lottery. Moreover, five applicants obtained additional one unit share through the second lottery where the gainers from the first lottery were excluded.

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