Opening Price Range of Bindhyabasini Hydropower is Rs. 111.34 to Rs. 334.2. This price range is determined as per the audited financial report of fiscal year 2077/78. You can check the official data as below.
How opening price range is determined?
Nepal stock exchange (NEPSE) determined the opening price range of new stock based on the book value of company. For example, if book value of the company’s latest audited report is 100 then the opening price range will be 100 – 300. The minimum price should be same as book value and maximum price will be book value x 3.
About IPO
Bindhyabasini hydropower opened its IPO issue of 13,65,000 units ordinary shares worth Rs 13.65 crore to the general public from Jestha 20 and closed on Jestha 25, 2079. Out of total offered 15,00,000 units; 4% of the total offered shares (60,000 units) have been set aside for the employees and 5% (75,000 units) have been set aside for the mutual funds. The remaining 13,65,000 units were for the general public.
According to the issue manager Sanima Capital Limited, the issue has received approx. 18,48,407 applications applying for a total of 2,19,72,420 units making the issue oversubscribed by almost 16.09 times.
CARE Ratings Nepal has assigned a double B plus issuer rating [CARE-NP BB+ (Is)] to the company. Companies with this grading are considered to have a moderate risk of default regarding timely servicing of financial obligations.
The allotment was done on 3rd of Asar 2079. The allotment was place at the premises of Sanima Capital Limited, Naxal, Kathmandu. Out of total applicants1,36,500 Lucky Applicants alloted for 10 units each.
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