Last Day to Apply for IPO of CEDB Hydropower Development Company; IPO already applied by more than 15 lakhs investors

Tue, May 4, 2021 5:32 AM on IPO/FPO News, Stock Market, Latest,

-ShareSansar

CEDB Hydropower Development Company Limited is closing the IPO issue of 25,18,230 units worth Rs 25.18 crore to the general public from today (Baisakh 21, 2078) after banking hour. This IPO issue was opened on Baisakh 17.

According to CDSC, 15,00,364 applicants have applied for a total of 2,30,73,200 units. This is the data as of 5: 10 pm on the 3rd Day. Thus, the issue is now oversubscribed 9.8 times. The lottery is fixed for 10 units each to lucky applicants.

Out of the offered 25,18,230 units; 2% of the total offered shares to the general public i.e. 50,365 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 1,25,911 units have been set aside for the mutual funds. The remaining 23,41,954 units are for the general public.

Sunrise Capital Limited has been appointed as the issue manager for the IPO issuance.

Applications can be placed for a minimum of 10 units and a maximum of 25,18,230 units.

After the issuance of 25,18,230 units worth Rs. 25.18 crore IPO shares the general public i.e 30% of total capital which will raise its paid-up capital to Rs 83.94 crore and the promoter/public ratio will be 70:30.

Company Profile

CEDB Hydropower Development Company Limited (CHDC) is a public limited company incorporated under the prevalent laws of Nepal on Mangsir 15, 2066 (November 30, 2009). CEDB Hydropower Development Company Limited (CHDC) was founded by the then Clean Energy Development Bank to provide equity investment for hydropower projects to meet the energy needs of the nation. CHDC is currently mandated to invest in and develop hydropower projects. It has got three hydropower projects in operation and four projects in the construction and development stages.

Projects Under Development and Construction

1. Tallo Khare Khola Hydropower Project (11 MW)
2. Dordi-1 Hydro Electric Project (12 MW)
3. Rukum Gad Hydropower Project (5 MW)
4. Kasuwa Khola Hydropower Project (45 MW)