IPO of CEDB Hydropower Has Now Closed; What is the Final Count?

CEDB Hydropower Development Company has now closed its IPO issue.

The company floated 25.18 lakh unit shares in IPO to the general public from Baisakh 17, 2078. The hydro developer appointed Sunrise Capital as the issue manager for the IPO. The issue closed today, i.e. on Baisakh 21 at the end of banking hours.

After allocating 2% shares for the employees and 5% for mutual funds, the hydro developer issued 23,41,954 unit shares to the general individuals.

According to CDSC, 17,36,700 applicants have applied for a total of 2,63,45,500 units. This is the data after the issue closed today. Thus, the issue is oversubscribed 11.24 times. The lottery is fixed for 10 units each to lucky 2,34,195 applicants. The data also tells us that approximately one in eight applicants has the chance to be allotted. 

The company is currently operating 4.40 MW Radhi Hydro Project and 0.18 MW Syage Khola Hydro Project in Lamjung district whereas is currently constructing 3 more projects. The company is also in the process to begin construction of the 45 MW Kasuwa Project in the Solukhumbu district.

After the capitalization of the IPO shares, the promoter-public shareholding structure of the company will be in a ratio of 70:30. After the IPO, it will have a paid-up capital of Rs 83.94 crore, as per the media statement.