IPOs of Madhya Bhotekoshi Jalavidyut Company oversubscribed 4.19 times

Published On: October 13, 2021 06:42 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, OCT 13: The primary share of Madhya Bhotekoshi Jalavidyut Company Limited (MBJCL) was oversubscribed 4.19 times amid growing attractions of investors in the initial public offerings (IPOs) of companies listed at Nepal Stock Exchange.

According to Global IME Capital, issue manager of the MBJCL’s IPOs, the company received 34,360,010 applications as of Monday, the last day of the applications deadline. The MBJCL floated 8.19 million units of the primary shares worth Rs 819 million for general people.

The company issued 450,000 units of its IPOs for the depositors of the Employment Provident Fund while another 360,000 units were allocated for the fund’s staff.   MBJCL has received credit rating of Care-NP BB from Care Ratings Nepal Limited for its IPOs.

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