How Many Have Applied for IPO of Upper Hewakhola Hydropower Company So Far?

Upper Hewakhola Hydropower Company Limited (UHKHPC) has been issuing its 15,00,000 unit IPO shares to the general public from 24th Ashad and will conclude on 29th Ashad. If it is not fully subscribed the issue will be extended up till 6th Shrawan, 2079.

Out of the offered 15,00,000 units; 2% of the total offered shares to the general public i.e. 30,000 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 75,000 units have been set aside for the mutual funds. The remaining 13,95,000 units are for the general public. This is the 30% shares of the issued capital.

NMB Capital Limited is appointed as the issue manager for the IPO issuance. Interested investors can apply for a minimum of 10 units and a maximum of 1,00,000 units.

According to issue manager, 8,71,678 applicants have applied for a total of 1,00,29,560 units. Thus, the issue is already oversubscribed by 7.19 times so far.

Care Ratings Nepal Limited (CRNL) has revised the issuer rating assigned the company to ‘CARE-NP BB (Is)’. Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations in Nepal.