Himalaya Urja Bikas Company Limited (HUBCL) initial public offer (IPO) allotment result for locals of project affected areas of Ramechhap and Dolakha districts is successfully completed today. The company floated 9,90,000 unit shares equivalent to 10% of its issued capital of Rs 990 million at the face value of Rs 100 per unit shares in the first phase, starting from 06 Kartik 2075 till 20th Kartik and is oversubscribed by 1.2 times with 7,040 applications for 11,98,970 unit shares from the local residents.
Of the total issuing unit shares, 396,000 (40%) were for the locals of most affected area of Gokulgnaga Rural Municipality ward no 1 and Jiri Municipality ward no 1 and 2, whereas 594,000 (60%) to locals of affected area of Gokulganga Rural Municipality ward no 2, 3, 4 and 5, Jiri Municipality ward no 3, Tamakoshi Rural Municipality ward no 5 and 6 and Manthali Municipality ward no 13.
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