Upper Hewakhola Hydropower Company IPO Collects Rs. 1.76 Arba From 15.53 Lakh Applicants Till Last Day; IPO Oversubscribed by More Than 12.63 Times

Upper Hewakhola Hydropower Company Limited (UHKHPC) had issued 15,00,000 units shares worth Rs. 15 crores to the general public as a part of their Initial Public Offering (IPO) from Ashad 24 till 29th Ashad, 2079.

Out of the offered 15,00,000 units; 2% of the total offered shares to the general public i.e. 30,000 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 75,000 units have been set aside for the mutual funds. The remaining 13,95,000 units were for the general public. This is the 30% shares of the issued capital.

According to CDSC, 15,53,131 applicants have applied for a total of 1,76,19,120 units worth Rs. 1.76 Arba till last day. Thus, the IPO was oversubscribed by more than 12.63 times in terms of number of units through ordinary applicants as of closing day.

NMB Capital Limited was appointed as the issue manager for the IPO issuance. Interested investors could apply for a minimum of 10 units and a maximum of 1,00,000 units.

Upper Hewakhola Hydropower Company Ltd. is a public company, incorporated as on March 13, 2012 as Upper Hewakhola Hydropower Pvt. Ltd. Later on, it converted to a public company on June 6, 2018. It is promoted by institutional as well as individual promoters from different backgrounds for setting up an 8.5 MW run-of-river Upper Hewakhola Small Hydropower Project under BOOT (Build, Own, Operate and Transfer) model located in the Sankhuwasabha district of Nepal.