Bungal Hydro’s IPO Oversubscribed on Day One
Bungal Hydro’s Rs 170M IPO saw applications worth over Rs 720M on its opening day, oversubscribed by 4.2 times.
Kathmandu, Sept 2 (Nepalytix) — The Initial Public Offering (IPO) of Bungal Hydro Ltd was oversubscribed on its opening day, underscoring strong investor appetite for hydropower stocks in Nepal.
The company offered 1.70 million shares worth Rs 170.15 million at a face value of Rs 100 each to the public. According to CDS & Clearing data, by 5 PM on the first day (Bhadra 16), the IPO had received 636,487 applications requesting 7.20 million shares — about 4.23 times the available quota.
Investors can apply for a minimum of 10 shares and a maximum of 20,000 shares. The issue is scheduled to close on Sept 4 (Bhadra 19) at the earliest, or Sept 15 (Bhadra 30) at the latest if under-subscribed.
Himalayan Capital Ltd is managing the issuance. Applications can be submitted through ASBA-participating banks and financial institutions or via the MeroShare online platform.
Analysts highlight that the strong oversubscription reflects continued retail enthusiasm for hydropower IPOs, though actual allotments will remain small given the scale of demand.