Rasuwagadhi Hydropower’s IPO raises appx. Rs 6.75 arba in total; oversubscribed by more than 5 times of the total issue in the first stage

The IPO issuance of Rasuwagadhi Hydropower has raised approx. Rs 6.75 arba from tentative 2 lakh applicants till the last day of its first stage issue, Falgun 30, 2074 which is 5.06 times of the first stage issue. The issue was made for the members of the Employees Provident Fund. Rasuwagadhi Hydropower Company Limited is issuing a total of 1,64,21,040 units ordinary shares. In the first phase, the issue was open for 1,33,42,095 units shares from (Falgun 11, 2074) to Falgun 30, 2074 for staffs having membership of Employees Provident Fund. In the second stage, Rasuwagadhi will collect applications from staffs of promoter companies (i.e. staffs of Nepal Electricity Authority, Chilime Hydropower Company, and staffs of local bodies of Rasuwa district) and staffs of lending institution i.e. Employees Provident Fund from Chaitra 5 – Chaitra 13, 2074. Employees of promoter companies can apply from 50 to 500 units of shares. 23,94,735 units shares have been allocated for employees of promoter companies. Likewise, employees of EPF can apply from 50 to 2,500 units shares of Rasuwagadhi Hydropower Company. 6,84,210 units shares have been allocated for EPF employees. Siddhartha Capital Limited is the issue manager for the IPO of Rasuwagadhi Hydropower. NIBL Ace Capital, Global IME Capital and Sunrise Capital are co-issue managers.