Bindhyabasini Hydropower IPO Allotment to be Concluded on Friday at 3 PM; 1,36,500 Lucky Applicants will Get 10 units Each

Sanima Capital Limited is going to allot IPO of Bindhyabasini Hydropower Development Company Limited (BHDCL) on Friday i.e Ashad 3 at 3 PM. The IPO allotment will take place at the premises of Sanima Capital Limited, Naxal, Kathmandu.

The company opened its IPO issue of 13,65,000 units ordinary shares worth Rs 13.65 crore to the general public from Jestha 20 and concluded on Jestha 25, 2079.

Out of the offered 15,00,000 units; 4% of the total offered shares i.e. 60,000 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 13,65,000 units were for the general public.

As per the issue manager Sanima Capital Limited, the issue has received approx 18,48,407 applications applying for a total of 2,19,72,420 units of shares till last day. The issue has been oversubscribed by almost 16.09 times.

CARE Ratings Nepal has assigned a double B plus issuer rating [CARE-NP BB+ (Is)] to the company. Companies with this grading are considered to have a moderate risk of default regarding timely servicing of financial obligations.