The hydro company already issued IPO to locals of the affected area. The ongoing IPO includes shares that went unsubscribed in the first phase IPO. Earlier, the company issued 1,250,000 units of shares to locals of the affected area. Out of which 566,110 units of shares were unsubscribed.
Out of the total number of offered shares, the company has allotted 2 percent i.e. 36,355 units to employees and 40,000 to mutual funds. The general public can apply for the remaining 1,739,788 units of shares.
The company has appointed Siddhartha Capital as its issue manager. The interested investors can apply for a minimum of 50 to a maximum of 80,000 units through all C-ASBA approved BFIs and meroshare software.
ICRA Nepal has assigned grade 4 to the IPO indicating below average fundamentals.
