Rasuwagadhi Hydropower’s second stage issue collects around Rs 38.31 crore till Chaitra 11; Issue to close on Chaitra 13

Rasuwagadhi Hydropower Company Limited has been conducting its second phase of initial public offering for the employees of Employees Provident Fund and employees of the promoter organization. In the second phase, the issue is open for 6,84,210 units shares for employees of Employees Provident Fund and 23,94,735 units for the employees of promoter institutions and employees of concerned department of Rasuwa district from Chaitra 5-Chaitra 13, 2074 . The employees of EPF can apply anywhere from 50 units to 2,500 units shares and the employees of promoter institutions can apply for 50 units to 500 units. Till Chaitra 11, 2074 the issue has collected about 38.32 crore from around 7,062 applications. From the employees of Provident fund, only 448 applications were received which garnered Rs 5,63,86,000. The amount is undersubscribed by 18% from the total issue of 6,84,210 units. Likewise, from the employees of promoter institutions, 6,614 applications were received for Rs 32,68,55,000. This amount is already oversubscribed by 1.4 times. 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.