IPO Allotment Tomorrow at 11: CEDB Hydropower Development Company to Allot Its Shares

CEDB Hydropower Development Company Limited will allot its IPO shares tomorrow i.e 31^st Baiksakh, 2078 at 11.00 am virtually at the premises of issue manager Sunrise Capital.

CEDB Hydropower Development Company has floated its 25.18 lakh unit shares in IPO to the general public from Baisakh 17, 2078.

After setting out 2% shares for the employees and 5% for the mutual funds, the hydro developer has issued 23.41 lakh unit shares to the general public.

A total 16,85,627 valid applicants have applied for a total of 2,63,45,500 units. Thus, the issue is oversubscribed 10.52 times. The lottery is fixed for 10 units each to lucky 2,34,195 applicants. The data also tells us that approximately one in eight applicants has the chance to be allotted. 

The company is currently operating 4.40 MW Radhi Hydro Project and 0.18 MW Syage Khola Hydro Project in Lamjung district whereas is currently constructing 3 more projects. The company is also in the process to begin construction of the 45 MW Kasuwa Project in the Solukhumbu district.

After the capitalization of the IPO shares, the promoter-public shareholding structure of the company will be in a ratio of 70:30. After the IPO, it will have a paid-up capital of Rs 83.94 crore, as per the media statement.