The IPO allocation for Bikash Hydropower Company Limited was finalized today at the headquarters of its issue manager, Prabhu Capital Limited, located in Kamaladi, Kathmandu.
Bikash Hydropower Company Limited launched an Initial Public Offering (IPO) comprising 29,42,760 shares valued at Rs 29.42 crores for the general public (from 18th Ashadh to 22nd Ashadh, 2082).
Among the total 35,45,500 shares, 10% (354,550 shares) were previously allocated to Nepalese citizens residing abroad, while 2% (70,910 shares) were reserved for company employees, and 5% of the total shares (1,77,275 shares) were designated for mutual funds. The remaining 29,42,760 shares were made available for the general public.
The issue attracted a total of 20,56,202 applications for 23,655,370 shares, leading to an oversubscription exceeding 8.03 times. However, 94,465 applications were denied.
According to the allocation system, 2,94,276 applicants were awarded 10 shares each through a lottery process.
