The IPO for Bhagawati Hydropower Development Company is set to close today, and it has received overwhelming demand, with subscriptions exceeding 17.02 times the available shares.

Bhagawati Hydropower Development Company Limited will conclude the offering of its 712,220 IPO shares today, on the 8th of Bhadra, 2080. This offering commenced on the 5th of Bhadra, 2080.

Out of the total of 858,097 units, 10%, or 85,810 units, have already been distributed to Nepalese citizens working abroad. Additionally, 5%, equivalent to 42,905 units, have been allocated for mutual funds, and 2%, or 17,162 units, have been earmarked for the company's employees. The remaining 712,220 units are available for the general public.

These shares are being issued at a price of Rs. 116 per share, consisting of a Rs. 100 face value and a Rs. 16 premium price.

Siddhartha Capital is serving as the issue manager for this IPO, which will generate a total of Rs. 16.58 Crores for the company. Out of this, Rs. 2.28 Crores will be designated as the premium amount, while the rest will be added to the paid-up capital.

According to CDSC, a remarkable 10,90,953 applicants have applied for a total of 12,124,200 units, amounting to Rs. 1.4 Arba. Consequently, the IPO has been oversubscribed by an impressive 17.02 times.

CARE Ratings Nepal Limited (CRNL) has reaffirmed the issuer rating of ‘CARE-NP BBB- (Is)’ assigned to Bhagawati Hydropower Development Company Limited. This rating suggests that the company offers a moderate level of safety when it comes to meeting its financial obligations in Nepal, indicating a moderate credit risk.