2nd November 2022, Kathmandu
Eastern Hydropower is set to allot a recently issued initial public offering (IPO) on November 4. A total of 1,394,326 applicants have applied for shares worth Rs 1.57 billion.
The company issued 670,310 units of shares including 50,310 unsubscribed units issued to the locals of the affected area of Bhojpur District from October 14-19.
Out of the total offered units, the company secured 5 percent i.e. 33,515 units to mutual funds, and 2 percent i.e. 13,406 units to employees. The general public could apply for the remaining 623,389 units.
The issue has been oversubscribed by 25.21 times. The company issued just 623,389 units of shares.
NMB Capital, the issue manager for the company, has completed the pre-allotment of the IPO and is preparing to complete the allotment on coming Friday.
The issue has been oversubscribed by 25.21 times. The company issued just 623,389 units of shares.
Given that the issue has been oversubscribed, allotment will take place as per Securities Issuance and Allotment Guidelines.
Currently, the company has a paid-up capital of Rs 496 million which will reach Rs 620 million after the capitalization of the IPO to the general public.
As per the company, 6,233 applicants will receive 10 units of shares through a lottery.
To check the results of the IPO, candidate can visit the official website Click Here
