Himalayan Hydropower witnesses a 6.22 times more subscription demand for its IPO in three days of issue

Published On: July 2, 2022 07:05 PM NPT By: Republica | @RepublicaNepal

KATHMANDU, July 2: Himalayan Hydropower Limited witnessed a six-fold oversubscription of its initial public offering (IPO) as of Friday, the third day of floating the primary shares in public.

The company issued 1,830,472 units of its IPO, at the base rate of Rs 100 per share, starting from Wednesday. As of Friday, the company received applications from over 1 million individuals to purchase 11,398,010 units of its IPOs, according to the issue manager Global IME Capital (GIMEC).

Out of the total issuance of 1,968,250 primary shares, the company has allocated two percent for the staffers and another five percent for the mutual funds. The rest of the IPOs were opened for the general public. According to the GIMEC, the subscription will last till Sunday.

Himalayan Hydropower Limited has authorized capital of Rs 1.98 billion, issued capital of Rs 1.09 billion and paid up capital of Rs 870 million. With the IPO sale, the company’s paid up capital will reach Rs 1.09 billion.