Tehrathum Power's IPO allotment on Friday
The ordinary shares (IPO) of Tehrathum Power Company will be distributed on Friday. According to NIVL S Capital, after the pre-allotment on Tuesday, the company is preparing to distribute its shares on Friday.
As there are more applications than demand for the company's shares, the issue and distribution of securities will be done as per the guidelines. Accordingly, only 74,400 people will get shares at the rate of 10 lots. The rest of the applicants will not get it.
The company had issued 800,000 shares worth Rs 80 million by August 29-13. Out of the total shares sold, the company will distribute 2 percent or 16,000 shares to the employees and 5 percent or 40,000 shares to the collective investment fund and distribute the remaining 744,000 shares to the public.
The company, which currently has a paid-up capital of Rs 280 million, will pay Rs 40 million to locals and Rs 80 million to the general public.