Kathmandu: Daramkhola Hydro Energy Limited has completed the allotment of its Initial Public Offering (IPO) to the general public.
The IPO, which was open for subscription from 30 July to 3 August, saw an overwhelming response from investors.
The company had offered 2,423,185 shares to the general public at a face value of Rs 100 each. A total of 2,296,465 applicants applied for 26,498,590 shares — oversubscribing the issue by more than ten times.
Following the allotment process, 242,312 applicants received 10 shares each, while 5 applicants were allotted 11 shares each.
Daramkhola Hydro Energy had been authorized to issue 3,950,000 shares, representing 38.33 percent of its issued capital of Rs 1.03 billion (Rs 395 million in value). Of these, 1,030,500 shares worth Rs 103.05 million were allocated earlier to local residents of the project-affected areas, and 291,950 shares worth Rs 29.195 million were allotted to Nepalis working abroad.
The latest allotment was for the remaining 2,423,185 shares worth Rs 242.3185 million, offered to general investors in the second phase of the company’s share issuance.
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