Eastern Hydropower IPO Collects Rs. 1.57 Arba From 13.96 Lakh Applicants Till Last Day; IPO Oversubscribed by More Than 25.25 Times

Eastern Hydropower Limited (EHL) had issued 6,70,310 units shares worth Rs. 6.7 crores to the general public as a part of their Initial Public Offering (IPO) from Ashwin 28 till Kartik 02, 2079.

Out of the offered 6,70,310 units; 2% of the total offered shares i.e. 13,406 units have been set aside for the employees of the company and 5% of the total offered shares i.e. 33,515 units have been set aside for the mutual funds. The remaining 6,23,389 units were for the general public. The paid up capital of the company will reach to Rs. 62 Crores after the IPO issuance.

According to CDSC, 13,96,590 applicants have applied for a total of 1,57,43,700 units worth Rs. 1.57 Arba till last day. Thus, the IPO was oversubscribed by more than 25.25 times in terms of number of units through ordinary applicants as of closing day.

NMB Capital Limited was appointed as the issue manager for the IPO issuance. Applications could be placed for a minimum of 10 units and a maximum of 1,00,000 units.

Eastern Hydropower Limited (EHL) is a public company, incorporated on August 4, 2017, promoted by institutional as well as individual promoters from different background. It is currently operating a 5 MW Pikhuwa Khola Small Hydropower Project (PKSHP) in run –of –river scheme located at Bhojpur district, Nepal. The project has been constructed under BOOT (Build, own, Operate and Transfer) mechanism.