Bungal Hydropower Limited’s Initial Public Offering (IPO) has been oversubscribed by more than 12 times. According to CDS and Clearing Limited, a total of 1,809,864 applicants have applied so far.
The company received applications for 20,416,650 shares worth Rs. 2.04 billion, while it had only issued 1,701,500 shares to the general public from September 1 (Bhadra 16).
Investors were allowed to apply for a minimum of 10 shares and a maximum of 20,000 shares. Applications could be submitted through ASBA member banks and financial institutions, their branch offices, or via the Mero Share online platform.
The IPO will close as early as September 4 (Bhadra 19) and by September 15 (Bhadra 30) at the latest. Himalayan Capital Limited is managing the issue.
