Molung Hydropower is Closing its 22,64,655 Units of IPO issue for General Public from the 10th of Falgun
As of today, or 10 Falgun 2079, Molung Hydropower Company Ltd is ending the offer of 22,64,655 unit shares with a face value of Rs 100. On the fourth Falgun, the issue started. Through this IPO, the company hopes to raise Rs 22.64 crore.
Out of the total 27,28,500 units, 10%, or 272,850 units, have already been issued and assigned to Nepalese citizens who are working abroad. In addition, 2%, or 54,570 units, have been set aside for company employees, and 5%, or 136,425 units, of the total offered shares, have been allocated to mutual funds. The general public can purchase the final 22,64,655 units. Following the IPO, the company’s paid-up capital will amount to Rs. 80.25 Crores.
The business previously distributed 27,850 unit shares to Nepali nationals working abroad and 8,02,500 unit shares worth Rs. 8.02 crores to locals. In total, the promoter owners own 56% of the company’s shares.
11,44,129 applicants have submitted applications to CDSC for a total of 1,28,59,050 units. As a result, as of February 20, the issue is already 5.67 times oversubscribed (5 pm).
The issue manager for the IPO issuance is Sunrise Capital Ltd. A minimum of 10 units and a maximum of 8000 units may requeste in an application.
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