Khalikhola IPO Over-Subscribed by 73 times

June 3: Initial Public Offering (IPO) of Khanikhola Hydropower Company has been oversubscribed by 73.25 times. The IPO of 931,000 units of shares issued by the company has been applied worth Rs 6.82 billion through 135,000 applications.

The company has directed issue manager Civil Capital to conclude the allocation of shares within the end of the current FY. As per the rules, the allocation of shares must be completed within 50 days of closing of  the IPO despite the technical problem that may arise during the process. The company had issued the shares from May 29 to June 1. According to Civil Capital, many application forms are likely to be cancelled due to improper fillings and unclearly written details.

The company is likely to get range of Rs 90 to Rs 264 for its first transaction after being listed in the NEPSE. According to company’s projected financial report, the net worth per share will reach Rs 88.20 by the end of the current FY.