IPO of Balephi Hydropower Oversubscribed Over 12.76 Times, Issue Closing Tomorrow

Balephi Hydropower Limited has opened its IPO issue on 16th Chaitra. The issue will close at the early closing date on 21st Chaitra, 2078 since it was oversubscribed on the first day itself. 

18,27,970 shares have been issued at a par value of Rs. 100 per unit. 4% of the total issue, i.e. 73,119 units have been allocated for employees while 5%, i.e. 91,398 units have been allocated for mutual funds. The rest 16,63,453 shares are for the individual public.

According to CDSC, 18,70,709 applicants have applied for a total of 2,12,26,750 units. This is the data as of 5:00 PM today. Thus, the issue has already been oversubscribed over 12.76 times on the third working day.

The minimum bid quantity is 10 units while the maximum is 1,00,000 units. Global IME Capital has been appointed as the issue manager for the IPO issuance. ICRA Nepal Limited has rated the issue Double B, indicating a moderate risk of default regarding timely servicing of financial obligations.

Offer Letter

Recommended Reading:

Balephi Hydropower Opening IPO to Public, Here's All You Need to Know