The allotment process for Bikash Hydropower Company Limited’s IPO will be conducted next week through a lottery system due to overwhelming demand. Over 2.56 billion rupees worth of shares were applied for by more than 2.1 million applicants.
Bikash Hydropower Company Limited’s IPO allotment has been postponed and will now take place next week. According to the company’s sales manager, Prabhu Capital, final preparations for the allotment are underway, and shares will be distributed through a lottery system.
The company issued 2,942,760 shares to the general public from Ashad 18 to 22. According to the Central Depository System (CDS), 2,120,857 applicants applied for 25,627,110 shares, with a total application amount exceeding NPR 2.56 billion.
Due to high demand, shares will be allocated through a lottery system. As a result, approximately 294,276 applicants will receive 10 shares each, while over 1.8 million applicants will not receive any shares.
The IPO has been rated “ICRA NP Issuer Rating BBB-” by the credit rating agency ICRA Nepal, indicating an average financial standing.
This article was originally published on https://bajarkochirfar.com
Translated with the help of AI and reviewed by our editorial team.
