April 16, 2019 | Investopaper
The IPO allotment process of Himalayan Urja Bikas Company was concluded by the issue manager of the IPO, Nabil Investment Banking today.
The total of 1.366 lakhs units was floated to the general public by the hydropower company which has been constructing a 19MW hydropower project in Ramechhap district.
The total valid applicants were 69,670 and out of that, 66,950 applicants were allotted 20 units each while only 2,720 got 10 units from the allotment.
Lately, Nepalese sharemarket has shown pessimism towards the hydro sector as many hydropower IPO has gone unsubscribed and they have been underperforming in the stock market.
The recently listed Universal Power has been trading below 100 while Mountain Hydro is yet to open after getting listed on Nepse a few days ago.