Really the shortage of investable funds? Rasuwagadhi Hydropower raises 312 crores, issue oversubscribed by almost 2 times

Rasuwagadhi Hydropower Company Limited has raised over Rs 3.12 arba from tentitive89 thousand applicants in its ongoing IPO issue to the members of Employees Provident Fund, employees of promoter companies (Nepal Electricity Authority, Chilime Hydropower Company and staffs of local bodies of Rasuwa district) and employees of lending institution (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 is open for 1,33,42,095 units shares from (Falgun 11, 2074) to Falgun 30, 2074 for staffs having membership of Employees Provident Fund. They can apply anywhere from 50 units to 500 units shares. Staffs having membership of EPF till Poush 20, 2074 can apply under this issue. 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.