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50 Times more Applications for IPO of Ruru Hydropower Project

News 05 Apr 2021 1049 0

50 Times more Applications for IPO of Ruru Hydropower Project:

According to NMB Capital, sales manager of Ruru Hydropower; A total of 1,87,65,600 shares have been applied for from 13,08,985 applicants in the IPO till Monday evening. That's 49.49 times more than the company's IPO.

The Ruru Hydropower Project has sold 4,07,706 shares at a total price of Rs 120 by adding a premium of Rs 20 to the face value of Rs 100 per share from 20th Chaitra to 24th of Chaitra 2077.

Out of the total issue, 2 percent or 8 thousand 154 shares have been allotted to the employees and 5 percent or 20 thousand 385 shares have been allotted to the collective investment fund. General investors will be able to apply for the remaining 379,167 Shares.

You have to apply for the purchase of the shares by the 24th of Chaitra 2077. If the full application is not received by that time, the deadline will be extended till 3rd of Baishakh. In that IPO, investors will be able to apply for a minimum of 10 Shares and a maximum of the entire Shares.

ICRA Nepal has given ICRA NP IR Triple B rating to the company in the rating given for the IPO issue. This indicates that it is moderately safe to meet financial obligations on time.

All C-ASBA members who have received approval from the Nepal Securities Board can apply for the company's IPO from banks and financial institutions and their designated branch offices.

At present, the paid-up capital of the company is Rs. 326.164 million. After the sale of the IPO to the locals and the general public, the paid-up capital of the company will reach Rs. 407.7 million.

IPO
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