Suryakund Hydro Electric Company Limited’s initial public offering (IPO) closes today. The company opened the second phase of its IPO for the general public on Magh 18, offering shares at an issue price of NPR 100 per share.
A total of 572,431 ordinary shares are being issued, of which 34,484 shares are allocated for mutual funds and 13,793 shares for company employees. Investors are allowed to apply for a minimum of 10 shares and a maximum of 50,000 shares under this IPO.
In the rating assigned for the IPO, CARE Ratings Nepal has given the company a CARE-NP BB- issuer rating. This indicates a moderate level of risk in the company’s ability to meet its financial obligations.
The IPO is being managed by Kumari Capital Limited. Investors can apply through the C-ASBA system at all C-ASBA member banks and financial institutions approved by the Securities Board of Nepal, including their designated branches. Additionally, applications can also be submitted online through the ‘Mero Share’ software operated by CDS and Clearing Limited.
According to CDSC data, as of Tuesday evening, a total of 2,049,285 applicants had submitted applications for the IPO, requesting 23,504,370 shares worth NPR 2,354,370,700. This means the IPO has been oversubscribed by 41.06 times compared to the total number of shares issued.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
