United Modi Hydropower lists 1.15 crore units shares in NEPSE; Shares to be traded after 7 days of listing

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    United Modi Hydropower Limited has listed 1,15,00,000 units ordinary shares in Nepal Stock Exchange Limited (NEPSE) today.

    The trading will start in NEPSE after 7 days of notice published, which means the trading of the shares will commence from Jestha 16, 2074.

    The first price range of United Modi Hydropower may start from Rs 101.57 – Rs 304.71.

    United Modi Hydropower Limited had issued 17.25 lakh unit shares worth Rs 17.25 crore as part of its Initial Public Offering (IPO) for the general public on Chaitra 31, 2073.

    The issue had collected Rs 4 arba and was oversubscribed by 24.93 times. Retail investors were allotted 2.8% and others were allotted 2.24% on pro-rata basis.

    United Modi Hydropower Limited operates a 10MW Lower Modi-1 Hydropower project in Modi Khola of Parbat district. After the IPO, its paid up capital has reached Rs 1.15 arba. The shareholding ratio of promoter – people of the affected area – general public now stands at 75%-10%-15%.

    Source : Share Sansar