Universal Power Allots IPO

Feb 27, 2019 Merolagani

Universal Power Company (UPCL) has allotted IPO in the morning of February 27. As per issue manager Siddhartha Capital, applicants who sought up to 1,300 units of shares are provided the desired number of shares.

Similarly, the applicants who sought above 1,500 to 10,000 units were provided 1,350 units of shares.

In the IPO, a total of 105,159 applicants applied for 9,245,290 units of shares. Out of which 40 applications seeking 3,160 units of shares were cancelled.

Universal Power Company issued 9,327,410 units of shares from January 8-February 20. Out of the total number of shares offered during IPO, the company allocated 186,548 units of shares to employees and 466,370 units of shares to mutual funds.

ICRA Nepal has assigned grade 4 for the issue indicating below average fundamentals. Presently, the company has a paid-up capital of Rs 1.13 billion that will reach Rs 2.1 billion after the first and 2nd phase IPO.

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