The first transaction came in the demat account of so many small power IPOs
The IPO of Samling Power, which was launched about a month ago, has been credited to the beneficiary account. Nepse is likely to set an opening range for the company’s first trading from a minimum of Rs 98.77 per share to a maximum of Rs 296.31 per share.
The company had issued and sold 730,000 ordinary shares at a face value of Rs 100 per share. Out of which 2 percent or 14,600 shares were allotted for employees, 5 percent or 36,500 shares for collective investment funds and 678,900 shares for general public.
The distribution of the ordinary shares (IPO) was completed on Tuesday, November 30. As there were more applications than the demand, the IPOs were distributed through the Gaela system. Till the last day, 2,198,764 applicants had applied. Of which, applications of 9,986 have been rejected. The number of eligible applicants was 2.188 million. Accordingly, 67,890 people had received shares at the rate of only 10 lots.