How Many Have Applied for Public Issue of "Molung Hydropower Company Limited" So Far?

CDS & Clearing Limited (CDSC) has reported the data of public IPO collection of Molung Hydropower Company Limited as of 5 pm today i.e Falgun 08.

The company has been issuing 22,64,655 unit shares of Rs 100 face value as Initial Public Offering to the general public from 4th Falgun, 2079. The company intends to collect Rs 22.64 crore from this IPO. The early closing date of this issue is on 10th Falgun and if the issue is not fully subscribed, it can be extended up to the 18th Falgun, 2079.

Out of the total 27,28,500 units; 10% i.e. 272,850 units have already been issued and allotted to Nepalese citizens working abroad, whereas 2% i.e 54,570 units have been set aside for the employees of the company and 5% of the total offered shares i.e. 136,425 units have been set aside for the mutual funds. The remaining 22,64,655 units are for the general public.

Sunrise Capital Limited is appointed as the issue manager for the IPO issuance. Applications can be placed for a minimum of 10 units and a maximum of 8000 units.

According to CDSC, 11,44,129 applicants have applied for a total of 1,28,59,050 units. Thus, the issue is already oversubscribed by 5.67 times so far.

ICRA Nepal has reaffirmed an issuer rating of [ICRANP-IR] BB (pronounced ICRA NP issuer rating double B) to Molung Hydropower Company Limited. Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations.