Joshi Hydropower issued 1,690,470 units of IPO worth Rs 169 million including the unsubscribed 242,010 units of shares of the previous IPO issued to locals of affected area of from December 2-5.
Out of the total units, 3 percent i.e. 50,714 units of shares have been allocated to employees and 84,523 units of shares have been allocated to mutual funds. The general public will be issued remaining 1,555,233 units of shares.
As per Securities Issuance and Allotment Directives, each applicant must be provided at least 10 units of shares. based on the number of shares issued and application received, majority of applicants will be provided 20 units of shares whereas few applicants will be provided 10 units of shares.
According to data of Siddhartha Capital, a total of 83,770 applicants have applied in the issue. Dividing the total 1,555,233 units to total number of applicants, it can be estimated that 71,753 applicants will be provided 20 units of shares, 12,014 applicants will be provided 10 units of shares and 3 applicants will be provided 11 units of shares.
