Raswagadhi and Sanjen Hydropower both closing its IPO issue today
April 23, 2019 | Investopaper
Rasuwagadhi Hydropower Company Limited is closing an IPO issue worth Rs. 1.02 arba to the general public from Baisakh 10, 2076 i.e. today.
Related: How to apply IPO/FPO/Right Share through Mero Share?
The company is closing its IPO issue to the general because it has already been fully subscribed. The IPO was opened to the general public from Baisakh 6, 2076.
Out of the total 1, 02, 63,150 issued units, 4 percent will be allotted to the employees of the company and 5 percent has been set aside for the mutual funds. The remaining units will be allotted to the general public.
Rasuwagadhi Hydropower Company Limited is a subsidiary of Chilime Hydro Power Company Limited. The under-construction hydropower project located in Rasuwa has the capacity of producing 111 MW energy and it has already completed more than 50 percent work. The estimated year of project completion is 2020 A.D.
Similarly, Sanjen Jalavidyut Company is also closing an IPO issue of 54,75,000 shares to the general public from today. The issue has already been fully subscribed so the date shall not be extended.
Out of the total IPO shares, 5 percent will be allotted to mutual funds. Likewise, 4 percent of allotment will be made to the employees of the company. The general public will be allotted from the remaining 49,82,250 shares.
More than 1,50,000 applicants have already applied for the IPO issue of both companies till Monday 5 PM. The IPO of both companies has already been oversubscribed.
