Trishuli Hydropower IPO receives overwhelming support from investors
March 26, 2019 | Investopaper
The first Hydropower IPO under the government initiative “Citizen’s Hydropower Program” has received overwhelming support from the investors. The IPO was hugely oversubscribed at the end of the closing day.
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Prime Minister K.P Sharma Oli initiated the issue by purchasing the shares in the IPO. The IPO was open from Chaitra 7, 2075 and closed on Chaitra 11 due to oversubscription of shares. The company issue 37,05,000 shares to the public at a par value of Rs. 100 per share. Out of Rs. 100, only Rs. 10 was the initial call amount.
The issue manager for the IPO, Global IME Capital informed that about 64,737 investors participated in the IPO. The investors applied for 2.67 crores units worth Rs. 26.75 crores. Out of it, 559 applications worth Rs. 58.94 lakhs were rejected.
The investors applied by paying only Rs. 10 per share. The remaining Rs. 90 per share is payable after 9 months.
