Ruru Hydropower got more than 10 Times Applications for IPO on the First Day:
The first day of IPO sale by Ruru Hydropower has received 10 times more applications. According to sales manager NMB Capital, as of Friday evening, applications have been received from 2,67,943 applicants for the purchase of 4,126,000 shares. That's 10.88 times more than the company's IPO.
The Ruru Hydropower Project has sold 407,706 shares at Rs. 120 per share since Chaitra 20. 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.
ICRA Nepal has given the 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
