High demand for Ru Ru Hydropower’s IPO; 37 times more demand than IPO issued

Kathmandu, April 4

The IPO of Ru Ru Hydropower Limited has received 37 times more applications till Sunday. The company has added a premium of Rs. 20 to the face value and issued a total of Rs 4 crore 89 lakh 24 thousand 720 at the rate of Rs. 120. The company has issued a total of 4 lakh 7 thousand 706 shares. Of which, 8,154 lots have been allotted for 2 percent employees and 20,385 lots for collective investment funds, while the general public will be able to apply for the remaining 379,167 lots.

As of 5:15 pm on Sunday, purchase applications for 1 crore 40 lakh 16 thousand 310 lots have been received from 969,250 applicants. Which comes to be equal to Rs. 1arba 68 crore 19 lakh 57 thousand 200. In this regard, 37 times more applications have been received for this IPO.

The general public can apply for this IPO from all C-ASBA member banks and financial institutions and their designated branches that have received approval from Securities Board of Nepal. In this IPO, investors will be able to apply for a minimum of 10 lots and a maximum of the entire lot.

The issuance of Ru Ru Hydropower’s IPO will be closed as soon as possible on Chaitra 24 and as late by Baisakh 3 after banking hours. Earlier, the company had issued IPO for the residents of Gulmi district in the first phase from Magh 21 to Falgun 21. The company had sold a total of 47,705 IPO lots to the project-affected people.

After the IPO, the company’s paid-up capital will reach Rs. 40 crore 77 lakh 5 thousand 500. NMB Capital Limited is the sales manager of the securities.