Rairang Hydropower issued IPO worth Rs 84 million from May 14 to 17. The company issued 840,000 units of IPO at a face value of Rs 100 to employees and the general public.
As per its issue manager NIBL Ace Capital, out of the total shares, the company allocated 33,600 units to employees and 42,000 to mutual fund. The remaining 764,400 units of shares were distributed among the IPO applicants.
In the issuance, a total of 175,472 applicants applied for the IPO, among which, 194 applications were canceled. The issue was oversubscribed by 17.78 times.
Earlier, the company issued 560,000 units of IPO to the locals of the affected area of Panchthar and Taplegunj.