The initial public offering (IPO) of Samling Power Company was oversubscribed by 7,83,813 applicants on the second day, for a total of almost 14.16 times.
In preparation for its initial public offering (IPO), Samling Power Company Limited has began collecting applications. The IPO is scheduled to take place on April 4th. The matter will be resolved by the end of the day on the 8th of Kartik in the year 2078. Considering that the issue was already oversubscribed on the first day of its release, it will be finished by the early closing date.
A total of 7,300,00 unit shares having a par value of Rs. 100 per unit have been issued, for a total of Rs. 100 per unit. In terms of percentage of the company’s total capitalisation, this amounts to 14.6 percent. Employees of the company will receive 2 percent of the issue, which is worth 14,600 shares, while mutual funds would receive 5 percent of the issue, which is worth 36,500 shares, according to the terms of the offering. The remaining 678,900 shares are reserved only for the benefit of members of the general public.
In order to manage the issue, it has been agreed to employ Nepal SBI Merchant Banking Limited as issue manager. Application for a single unit can be for a minimum of 10 units and a maximum of 20,000 units, and applicants can submit multiple applications for a single unit. An estimated 7,83,813 individuals have applied for a total of 96,15,790 units, according to the California Department of Securities. Those are the facts as of today, which happens to be the second day of the week. As a result, on the second day, the issue has already been overloaded by 14.16 times the number of members who had originally signed up.