Barun Hydropower oversubscribed by 7 times on first day; Collection centre details inside

ShareSansar, March 2

Barun Hydropower Company Limited has started floating its Initial Public Offering (IPO) from March 1 (yesterday). Today is the second day of IPO. The IPO is oversubscribed by 7 times on the very first day.

CEO Of Civil Capital Market, Mr. Bhism Raj Chalise said they got an overwhelming response from the public on the very first day. The total collection on the first day was approximately 29 crore, he added

The hydropower company is floating a total 4,86,000 units of ordinary shares at face value of Rs 100. The company has allocated 24,300 units shares for the mutual funds, 8,720 units for the staff members of the hydro power company and 4,51,980 units for general public.

ICRA-Nepal, a credit rating agency, has assigned “[ICRANP] IPO Grade 4” rating for the IPO. The rating indicates below average fundamentals for the IPO.

The minimum number of shares that must be applied is 50 units whereas maximum number of shares that can be applied is 1,000 units i.e. one lakh rupees only.

The collection centers are:

The company has authorized capital of Rs 350 million and paid-up capital of Rs 243 million (after adjustment of public shares).

The issue will be managed by Civil Capital Market Limited and the offer will close on Falgun 20. The maximum date by which one should apply for the shares is Chaitra 1.