Himalaya Urja Oversubscribed by 3.76 Times

Apr 09, 2019 Merolagani

The IPO of Himalaya Urja BIkas Company (HUBCL) has been oversubscribed by 3.76 times. The company issued 1,485,000 million units of shares worth Rs 148.5 million to the general public from April 3-8.

As per Nabil Investment Banking, issue manager of the company, a total of 72,000 applicants have applied for 5,137,550 units of shares worth Rs 513.7 million. The investors could apply for a minimum of 50 to maximum of 6,500 units. ICRA Nepal has assigned grade 4 rating to the issue indicating below average fundamentals.

Out of the total offered shares, the company allocated 5 percent i.e. 74,250 units to mutual funds and 2 percent i.e.  44,550 unit shares to the employees.


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EPF Proposes to Buy All NEPSE Shares to NRB

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