Beni Hydropower Project Limited has received an overwhelming response to its initial public offering (IPO), with the issue already oversubscribed by 15.80 times.

The company opened 8,63,200 ordinary shares to the general public from Bhadra 22, 2083, at a face value of Rs. 100 per share.

Beni Hydropower has an issued capital of Rs. 1.04 arba, with 20% of the total capital, equivalent to 20,80,000 shares, allocated for public issuance.

Of the public issue, 10%, or 10,40,000 shares, was initially reserved for project-affected locals of Solukhumbhu district. Another 10,40,000 shares was designated for the general public.

Within the general public allocation, 1,04,000 shares were reserved for Nepali citizens working abroad. Similarly, 20,800 shares were allocated to company employees and 52,000 shares were reserved for mutual funds.

After these reservations, the remaining 8,63,200 shares were offered to the general public.

As of 5:15 AM on Bhadra 23, data from CDS and Clearing Limited showed that 11,69,184 applicants had submitted applications for 1,36,44,340 shares.

Based on the applications received, the IPO has already been oversubscribed 15.80 times compared to the shares available to the general public.

The IPO application period has been extended to Bhadra 26, 2083 following the public holiday on Bhadra 23 on the occasion of Gen Z Sahid Diwas.