Ganapati Microfinance and Union Hydro closing IPO issue; Can apply till 5 PM today and both IPO is already oversubscribed

Ganapati Microfinance Bittiya Sanstha Limited is closing the issue of 3,35,000 units ordinary shares worth Rs 3.35 crore to the general public from today (Baisakh 12, 2076). This issue was opened since Baisakh 9. The investors can apply till 5 PM today.

Out of the offered 3,35,000 units; 5,175 units have been allotted for the employees of the company and 16,750 units have been allotted for the mutual funds. The remaining 3,13,075 units are for the general public.

NIBL Ace Capital Limited has been appointed as the issue manager for the IPO issuance. As per the issue manager, 294,030 applicants have applied for almost 5,913,440 units till 3^rd day, oversubscribing the issue by almost 19 times.

Applications can be place for minimum 10 units and maximum 1,500 units.NIBL Ace Capital Limited has been appointed as the issue manager for the IPO issuance.

The paid-up capital will reach Rs 10.35 crore after the issuance of the public shares. After the IPO issue; public holding will be 32.37% and promoters holding will be 67.63%.

Similarly, Union Hydropower Company Limited is also closing issue of 35,34,340 units (including 6,21,790 units unsubscribed by locals) IPO shares at Rs 100 face value to the general public from 5 PM today (Baisakh 12, 2076). This IPO issue was opened since Chaitra 13, 2075.

As per the issue manager, 45,479 applicants have applied for 3,567,860 units till 2 PM yesterday.  Finally this IPO is also oversubscribed.

Interest can apply for a minimum of 50 units and maximum of 35,000 units of shares for a par value of Rs 100. Application can be placed from the financial institutions providing C-ASBA facility or through Meroshare.

ICRA Nepal has assigned Grade 5 rating to the IPO issue which indicates poor fundamentals. Laxmi Capital has been appointed as the issue manager for the IPO issuance.