Kathmandu: The allotment of Initial Public Offering (IPO) of Singati Hydro Energy Limited Ltd has been completed with 269,700 applicants receiving 10 units of primary shares each.

Mega Capital, the issue manager, made the allotment public that was made through a lottery earlier on Friday.

A total of 1.565 million applicants had applied for the initial offering that opened on March 19 and closed later on 23rd. The applications of 5,728, however, were declared invalid.

Of the 2,900,000 units of the shares offered, 1.295 million applicants were left empty-handed. As many as two percent of the issue was designated for the company’s staff and another five percent to mutual fund.