Last Day to clinch IPO shares of Barun Hydropower; expected to cross 250 crore

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    Barun Hydropower Company Limited has started floating its Initial Public Offering (IPO) from March 1 and today is the last day of IPO. The IPO is oversubscribed by 18 times on the first two days.

    CEO of Civil Capital Market, Mr. Bhism Raj Chalise said the total collection till 2nd day is approximately  Rs 72 crore  and it is estimated that the company will approximately have a total collection above Rs 250 Crore by the end of today.

    The hydropower company is floating a total 4,86,000 units of ordinary shares at face value of Rs 100. The company has allocated 24,300 units shares for the mutual funds, 8,720 units for the staff members of the hydro power company and 4,51,980 units for general public.

    ICRA-Nepal, a credit rating agency, has assigned “[ICRANP] IPO Grade 4” rating for the IPO. The rating indicates below average fundamentals for the IPO.

    The minimum number of shares that must be applied is 50 units whereas maximum number of shares that can be applied is 1,000 units i.e. one lakh rupees only.

    The collection centers are:

    The company has authorized capital of Rs 350 million and paid-up capital of Rs 243 million (after adjustment of public shares).

    The issue is being managed by Civil Capital Market Limited. The maximum date by which one should apply for the shares is Chaitra 1.

    Source : Sharesansar