SEBON has given instruction to extend ongoing Sanjen and Rasuwagadhi IPO issue after the continues disturbance in Meroshare login

Tue, Apr 23, 2019 8:20 PM on IPO/FPO News,
SEBON has...

Security Board of Nepal (SEBON) has given instruction to the issue manager of Sanjen Jalayidhyut and Rasuwagadhi Hydropower to extend the ongoing IPO issue of both companies by 2 days due to continuous disturbance in meroshare login. This means investors (only natural person) can apply both companies IPO till Thursday.

The meroshare website where investors can apply for IPOs online is getting technical disturbances since last 2 days. Investors are not able to apply in those IPOs. Recently five IPOs and one mutual fund scheme are being issued namely Sanjen Hydropower, Rasuwagadhi Hydropower, Nepal Agro Laghubitta, Ganapati microfinance, Union hydropower and Nabil Balanced Fund 2.

Both the Sanjen and Rasuwagadhi Hydropower was schedule to close its IPO today but there was many complains from investor being unable to apply IPO even at last moments today. Both the companies IPO was already oversubscribed on 3rd day.

As per the issue manager of Sanjen Jalavidhyut, Citizens Investment Trust, a total of 2,63,524 applicants have applied for more than 12,540,820 units of shares till today. The issue has been oversubscribed by 2.51 times till 4th day.

Similarly, a total of 2,66,196 applicants have applied for more than 1,57,52,900 units till today for the IPO issue of Rasuwagadhi Hydropower. The issue has been oversubscribed by 1.68 times till 4th day.