Rapti Hydro and General Construction IPO Allotment to be Concluded on Monday at 9 AM

Siddhartha Capital Limited is going to allot IPO of Rapti Hydro and General Construction Limited (RHGCL) on Monday i.e Shrawan 09 at 9 AM. The IPO allotment will take place at the premises of Siddhartha Capital Limited, Naxal, Kathmandu.

The company opened its IPO issue of 23,66,240 units of ordinary shares worth Rs 23.66 crore to the general public on Ashad 29 till 1st Shrawan, 2079.

Out of the total 23,66,240 units; 3% of the total offered shares i.e. 70,988 units have been set aside for the employees of the company and 5% of the total offered shares i.e. 1,18,312 units have been set aside for the mutual funds. The remaining 21,76,940 units were for the general public. The paid up capital of the company will reach to Rs. 61.27 Crores after the IPO issuance.

According to CDSC, 15,38,688 applicants have applied for a total of 1,72,65,150 units worth Rs. 1.72 Arba till last day. Thus, the IPO was oversubscribed by more than 7.93 times in terms of number of units through ordinary applicants as of closing day.

ICRA Nepal has assigned the issuer rating of [ICRANP-IR] B+ (pronounced ICRA NP issuer rating B plus) to Rapti Hydro and General Construction Limited (RHGCL). Companies with this grading are considered to have high risk of default regarding timely servicing of financial obligations.