IPO of Himalayan Hydropower Oversubscribed Over 2.57 Times So Far

Himalayan Hydropower Limited (HMHL) has been issuing its 18,30,472 unit IPO shares to the general public from 15th Ashad and will conclude on 19th Ashad. If it is not fully subscribed the issue will be extended up till 29th Ashad, 2079.

Out of the total 19,68,250 units; 2% of the total offered shares i.e. 39,365 units have been set aside for the employees of the company and 5% of the total offered shares i.e. 98,413 units have been set aside for the mutual funds. The remaining 18,30,472 units are for the general public. The paid-up capital of the company will reach Rs. 1.09 Arba after the IPO issuance. Global IME Capital Limited has been appointed as the issue manager for the IPO issuance.

According to CDSC, 4,05,842 applicants have applied for a total of 47,17,250 units. Thus, the issue is already oversubscribed by 2.57 times so far. This is the data as of 10 AM this morning.

Interested investors can apply for a minimum of 10 units and a maximum of 1000 units.

ICRA Nepal has downgraded the issuer rating of Himalayan Hydropower Limited to [ICRANP-IR] B+ (pronounced ICRA NP issuer rating B plus) from [ICRANP-IR] BB+ (pronounced ICRA NP issuer rating double B plus). Issuers with this rating are considered to have a high risk of default regarding timely servicing of financial obligations.