Locals IPO of Madhya Bhotekoshi Jalavidyut Company Oversubscribed Over 2.906 Times by 87,995 Applicants

Madhya Bhotekoshi Jalavidyut Company has extended the deadline for the IPO issue of 60 lakh units to locals of the project-affected area.

The company had resumed its IPO process from Shrawan 5, 2078 for the project affected locals of Sindhupalchowk district which was earlier halted on Baisakh 25, 2078. While the issue was supposed to close on Shrawan 17, the deadline has been extended till Shrawan 32 since the issue was not fully subscribed by the early closing date. The issue is already oversubscribed now.

The eligible locals of the Sindhupalchowk district can apply for a minimum of 50 units to a maximum of 400 unit shares.

According to the issue manager Global IME Capital, 87,995 applicants have applied for a total of 1,74,39,800 units. This is the data as of Shrawan 28. Note that this is the combined data from collection centers and ASBA. Thus, the issue is oversubscribed over 2.906 times in terms of the number of units.

The hydropower company has allocated 32 collection centers in the Sindhupalchowk district whereas 7 such centers in Kathmandu through which the investors can submit their application and cheques whereas can do so also through ASBA member BFIs and via eSewa and IME Pay service.