The company had concluded the pre-allotment process on Friday, July 8. Following the conclusion of pre-allotment, they are required to conclude the allotment within three days.
Himalayan Hydropower issued the IPO to the general public from June 29- July 3.The company issued 1,968,250 units of ordinary shares including 618,250 units unsubscribed units from the issue to the locals of affected area. Out of total offered units, 2 percent i.e. 39,365 units were secured to employees and 5 percent i.e. 98,413 units to mutual funds. The general public could apply for the remaining 1,830,472 units.
The issue has been oversubscribed by 10.06 times. As per the latest data, a total of 1,626,430 applicants have applied for 18,419,980 units of shares.
As the issue has been oversubscribed, the allotment will be taken place as per Securities Issuance and Allotment Guidelines under which 183,047 applicants will be provided 10 units of shares through lottery. Meanwhile, nearly 1.4 million applicants will be left empty handed.
