Today is the last day to apply for initial public offering of Mid-Bhotekoshi Hydropower Project issued to depositors of Employee Provident Fund. As per Global IME Capital, issue manager of the company, the issue is being closed as it has already been oversubscribed.

The company is issuing 11.7 million units of shares worth Rs 1.17 billion to the depositors of Employee Provident Fund from November 14-30.

The company is issuing 14.4 million units of shares to depositors of Employee Provident Fund (EPF), employee of promoter companies and employees of lending institution in the first phase from November 14.

After the issue, the company will issue 2.1 million units of shares to employees of promoter companies and 600,000 units of shares to lending institutions (EPF) from December 4-12.

The interested investors can apply for the shares from all C-ASBA approved BFIs. The interested depositors of EPF and employees of promoter companies can apply for a minimum of 50 to maximum of 500 units of shares whereas employees of lending companies can apply for a minimum of 50 to maximum of 1,200 units of shares.

As per the agreement between the company and EPF, depositors of EPF registered in its book in December 8, 2011 till October 15, 2018 and employees of promoter and lending companies can apply for the shares.

The company has appointed Global IME Capital as its issue manager. The issue has been co-issued by NIBL Ace Capital, Prabhu Capital, Laxmi Capital Market, Civil Capital Market, Sanima Capital and CBIL Capital.

In the second phase, the company will issue 6 million units of shares worth Rs 600 million to locals of affected area of Sindhupalchowk. In the third phase, it will issue 9 million units of shares worth Rs 900 million to general public.