Mabilung Energy IPO Allotment Update: When Will the IPO Be Distributed?
Are you eagerly awaiting the Mabilung Energy Limited IPO allotment? Here’s the latest information on the IPO and what you need to know. The IPO allotment process is underway, according to Laxmi Sunrise Capital Limited, the sales manager for the Mabilung Energy IPO.
Unfortunately, the IPO allotment is taking a bit longer than expected. This is because many investors have submitted applications using two Demat accounts, leading to potential rejections and delays in the IPO distribution. The capital has stated that a high number of applications may be rejected due to these duplicate applications.
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Mabilung Energy IPO Application Numbers and Details
The Mabilung Energy Limited IPO received a massive response, with a total of NPR 2.666 billion worth of applications submitted by the deadline. A staggering 2,325,256 applicants applied for a total of 26,667,170 shares. This shows the strong interest in Nepal’s IPO market and demonstrates the popularity of investment opportunities in the energy sector.
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IPO Share Allotment Breakdown and Potential Outcomes
Due to the high number of applications, the IPO allotment is highly competitive. It is estimated that 124,890 individuals will receive 10 shares each. A few investors may receive 11 shares. The majority of applicants, approximately 2.2 million, may not be allocated any shares in this IPO. This highlights the importance of understanding the IPO lottery system and the chances of receiving shares. Investors need to be aware of the IPO’s risks associated with the primary market and understand how to apply for an IPO effectively.
The company was authorized to issue 1,890,530 ordinary shares at a face value of NPR 100 per share on June 1st. The first phase of this IPO was allocated to local residents and Nepalese citizens working abroad. The remaining 1,248,904 shares were issued to the general public. The Mabilung Energy IPO has significant growth potential due to the burgeoning hydropower sector in Nepal.
