Balephi Hydropower Limited is closing its locals IPO issue today, i.e. Thursday, Falgun 26.
The company has been issuing its 18,27,970 unit IPO shares to the project-affected locals of Sindhupalchowk District from Magh 27, 2078. The early closing date was on Falgun 12. However, the issue was unsubscribed till then and the deadline was extended till Falgun 27, 2078. The company has now decided to close the issue one day early today.
Interested locals can place their applications for a minimum of 10 units and a maximum of 1,00,000 units. Global IME Capital Limited has been appointed as the issue manager for the IPO issuance. ICRA Nepal has assigned a grading of [ICRANP] IPO Grade 4+ to this initial public offering (IPO) issue, indicating below-average fundamentals.
According to CDSC, 7,425 applicants have applied for a total of 19,21,430 units. This is the data as of 10: 04 am today. Thus, the issue has already been oversubscribed 1.05 times.