The notice states that Kumari Capital, which is the issue and sale manager, has removed the issue because it was priced at Rs 10 per share instead of Rs 100 per share in the C-ASBA system.
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CDS & Clearing Limited has removed the initial public offering (IPO) of Suryakunda Hydro Electric Limited from the 'Mero Share' app. Earlier, the notice of issuing the IPO to the public from today was suddenly removed.
Currently, the information of Suryakunda Hydro Electric is not visible in my share app. The notice issued by the CDSC states that the company's list has been removed.
The notice states that Kumari Capital, which is the issue and sale manager, has placed Rs. 10 per share in the C-ASBA system instead of Rs. 100 per share.
'572,431 units of ordinary shares of Suryakunda Hydro Electric Limited issued to the general public by the issue and sale manager of Kumari Capital Limited have been issued since 18/10/2082, and the C-ASBA system should have placed Rs. 10 per share. This capital has mistakenly opened the issue at Rs. 10 per share, and has closed the application for some time to correct the error in the software,' the notice states.
Kumari Capital Limited, which is the issue and sale manager, has issued an IPO for the public from Sunday. It has issued 572,431 shares with a face value of Rs. 100 for the public. The notice states that the application for the IPO will be opened for the public once the problem is resolved. 'The details of the resumption of application after the problem is resolved are also informed through this notice,' the notice states.
