The 'Mero Share' app was removed after the price of each share in the Suryakunda Hydro IPO was reduced to Rs 100 instead of Rs 100.
We use Google Cloud Translation Services. Google requires we provide the following disclaimer relating to use of this service:
This service may contain translations powered by Google. Google disclaims all warranties related to the translations, expressed or implied, including any warranties of accuracy, reliability, and any implied warranties of merchantability, fitness for a particular purpose, and noninfringement.
Applications for the initial public offering (IPO) of Suryakunda Hydro Electric Limited have been accepted. CDS and Clearing Limited had removed the 'Mero Share' app after the price of each share in Suryakunda Hydro's IPO was Rs 100 instead of Rs 100. With the resolution of the issue, applications for the IPO of Suryakunda Hydro have been accepted again.
Kumari Capital has issued an IPO for the public of Suryakunda Hydro from Sunday. Kumari Capital, which is the issue and sale manager of CDSC, had stated that the notice was removed due to an error in the price per share and that applications would be reopened once the problem was resolved.
With the problem resolved, the notice of the IPO of Suryakunda Hydro Electric is now visible on the Mero Share app. 572,431 shares have been issued to the public at a face value of Rs 100 per share. With the problem resolved, applications for the IPO have been opened to the public.
The notice states that Kumari Capital, which is the issue and sale manager, removed the notice because it was set at Rs 10 per share instead of Rs 100 per share in the C-ASBA system.
'Kumari Capital Limited, under the management of the issuance and sale of Suryakunda Hydro Electric Limited, has issued 572,431 ordinary shares of Rs 100 each to the general public since 18/10/2082. Although the C-ASBA system should have issued Rs 100 per share, this capital has mistakenly issued Rs 10 per share and has closed the application process for some time to correct the error in the software. We request all concerned to inform us,' the notice said.
