The issue managers of Rasuwagadhi Hydropower and Sanjen Hydropower are allocating recently issued initial public offering (IPO) of both companies on Sunday afternoon.
The companies issued IPO to depositors of Employees Provident Fund (EPF) from February 23 to March 14 and to employees of promoter companies (Nepal Electricity Authority, Chilime Hydropower Company and employees of local bodies of Rasuwa District) and employees of lending institution (Employees Provident Fund) from March 19 to 27.
Rasuwagadhi Hydropower
In the first stage, Rasuwagadhi Hydropower issued 13,342,095 units of IPO to depositors of EPF. The issue was oversubscribed to 67.5 million units of shares worth Rs 6.75 billion from more than 200,000 applicants.
Similarly, in the second stage, the hydropower issued 2,394,735 to employees of promoter companies and 684,210 to employees of EPF. A total of 8,986 Employees of promoter companies have applied for 4,393,730 units of shares worth Rs 439.3 million while 585 employees of EPF have applied for 738,850 units of shares worth Rs 73.8 million.
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