Still 48 hours to know IPO result of Aankhu Khola Hydropower; Issue manager to allot IPO shares within 48 hours of pre-allotment module approval

The IPO of Ankhu Khola Hydropower is set to be allotted IPO shares today however due to some unexpected delay now the company is in the attempt to allot IPO within next 48 hours. The issue manager of the IPO issuance, Civil Capital's official said "we will inform about the pre-allotment module in the Securities Board of Nepal (SEBON) today at 3:00 PM and accordingly we will allot the shares within 48 hours of the approval by SEBON"

The initial public offering (IPO) of Aankhu Khola Hydropower Company for the general public was floated from Ashwin 23rd to Ashwin 26th, 2075. The issue has received 85,880 applications amounting to Rs. 59 crore 36 lakh i.e. for 59 lakhs 36 thousand units. The issue has been oversubscribed by 4 times.

Out of the total 13,76,020 units, 5% i.e. 68,801 units have been reserved for mutual funds which have already been allotted to NIC Asia Growth Fund (NICGF) and Nabil Equity Fund (NEF) and 2% i.e. 27,520 units are reserved for the employees of the company.

ICRA Nepal had assigned Grade 5 rating to the IPO which indicates poor fundamentals of the company.