Union Hydropower IPO on Chaitra 13, how much can you apply?
March 18, 2019 | Investopaper
Union Hydropower is going to issue 35,34,340 shares as Initial Public Offering (IPO) to the general public from Chaitra 13, 2075. Out of the issue, 2 percent or 70,686 shares are reserved for the employees of the company. The general public will participate in the remaining 34,63,654 shares.
Related: How to apply IPO/FPO/Right Share through Mero Share?
This IPO includes 6,21,790 shares unsubscribed by the locals. In the first phase of the IPO, the company issued 7.5 lakhs (10% of the issue capital) to the locals of the project affected area of Lamjung district. Out of the total issue, only 1,28,219 units were subscribed by the locals and 6,21,790 shares were unsubscribed.
Investors can apply for a minimum of 50 shares and a\maximum of 35,000 shares at a par value of Rs. 100.
The IPO will close on Chatra 17, 2075. If fully unsubscribed, the issue will extend to Baisakh 12, 2076.
ICRA Nepal has assigned Grade 5 rating to the IPO issue which indicates poor fundamentals of the company.
Laxmi Capital is the issue manager for the Initial Public Offering (IPO).
