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Beni Hydropower IPO Allotted: 86,320 Investors Receive Shares

Beni Hydropower’s IPO has been allotted through a lottery, with 86,320 applicants receiving 10 shares each.

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Beni Hydropower IPO Allotted: 86,320 Investors Receive Shares

Beni Hydropower Project Limited has completed the allotment of its Initial Public Offering (IPO) to the general public on Monday, Ashwin 5. The IPO was allotted at the office of NMB Capital, the company’s issue and sales manager. The company had issued 863,200 ordinary shares with a face value of Rs. 100 per share, amounting to Rs. 86.32 million, for general investors from Bhadra 22 to Bhadra 26. The issue received applications from 2,351,560 applicants seeking a total of 26,200,910 shares, significantly exceeding the number of shares available. Of the total applications, 2,305,233 were approved, while the remaining applications were rejected. As the issue was oversubscribed, the shares were allotted through a lottery system. Under the allotment, 86,320 successful applicants received 10 shares each.

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