Bungad Hydro IPO Oversubscribed by 4.23 Times on First Day

Bungad Hydro Limited’s Initial Public Offering (IPO), which opened for subscription on Bhadra 16 (September 1), was oversubscribed on the very first day.

The company issued 1,701,500 ordinary shares at a face value of NPR 100 per share, amounting to a total of NPR 170.15 million, for the general public.

According to CDS and Clearing Limited, by 5 PM on the first day, the IPO had received 636,487 applications for a total of 7,208,360 shares, worth NPR 720.83 million. This is 4.23 times higher than the number of shares offered.

Investors can apply for a minimum of 10 shares and a maximum of 20,000 shares. The IPO will close at the earliest on Bhadra 19 (September 4) and at the latest on Bhadra 30 (September 15).

Himalayan Capital Limited is the issue manager for this IPO. Investors can apply through all C-ASBA member banks and financial institutions approved by the Securities Board of Nepal (SEBON) and their designated branches, as well as through the “Mero Share” online platform of CDS and Clearing.