Radhi Bidyut IPO collects Rs 1.28 arba from 1.61 lakh applicants; 76,450 lucky allottees will be decided thru lottery

The initial public offering (IPO) of Radhi Bidyut Company Limited has been positively received by investors. As per an official of Nabil Investment Banking Limited, the issue manager for the IPO of Radhi, the IPO has collected around Rs 1.28 arba from 1.61 lakh applicants. He added that the data is only preliminary which may also vary after final calculation. Radhi Bidhyut Company Limited had floated Initial Public Offering (IPO) of 7,64,550 units shares from Poush 3 to Poush 6, 2074. It had floated 4,10,000 units IPO shares to the local people of Lamjung district from Baisakh 5 to Jestha 3, 2074, however, 149,550 units were not subscribed and were floated to the general public during this issue. Radhi Bidyut Company Limited operates a 4.40 MW Radhi Small Hydropower Project in Lamjung district that has been generating electricity since Jestha 31, 2071 and is connected to the national grid. ICRA Nepal assigned an [ICRANP] IPO Grade 3 rating to this IPO, indicating average fundamentals. The authorized capital of company is Rs 1.50 arba.  The paid up capital of the company remains at Rs 30.75 crore. After the IPO for the locals of project affected area and for general public, its paid up capital will reach Rs 41 crore. Radhi Bidyut Company has earned net profit of Rs 4.74 crore in the last fiscal year 2072/73.