IPO of CEDB Hydropower Oversubscribed on First Day Itself; How Many Have Applied?

CEDB Hydropower Development Company has floated 25.18 lakh unit shares in IPO to the general public from today ie. Baisakh 17, 2078. The hydro developer has appointed Sunrise Capital as the issue manager for the IPO. The early closing date of the issue is Baisakh 21, 2078.

After allocating 2% shares for the employees and 5% for mutual funds, the hydro developer has issued 23.41 lakh unit shares to the general individuals.

According to CDSC, 3,90,000 applicants have applied for a total of 65,13,921 units. This is the data as of 5 pm on the first day. Thus, the issue is oversubscribed 2.78 times on the first day itself. The lottery is now fixed for 10 units each to lucky applicants.

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.