Kathmandu, February 8

Sunrise Capital Ltd, the issue manager of the initial public offering (IPO) of Molung Hydropower Company Ltd, has allocated 973,250 units of shares at Rs 100 per share to 5,653 applicants of Okhaldhunga district who were affected by the project.

The shares were open to the residents of affected areas from January 1 to 28.

Of the total 1,927 applications received for a total of 422,450 units of shares from wards 1 to 8 of Molung RuralMunicipality, 1,807 applicants who applied for 10 to 800 units of shares were distributed shares as per their request, while the 120 applicants who had applied for 900 or more units were distributed 820 units of shares each.

Similarly, 1,407 applicants of wards 1 to 10 of Sunkoshi Rural Municipality who applied for 10 to 330 units of shares were allotted the shares as per their request, while 174 people who applied for more than 330 units of shares were distributed 330 units of shares, respectively.

Moreover, 88 people of the 174 applicants who applied for 350 to 1,000 shares were distributed additional 880 units of shares at the rate of 10 shares each through a lottery system while the remaining five units of shares were also distributed in a similar way to five applicants at the rate of one share each. A total of 252,890 units of shares were distributed among a total of 1,581 applicants there.

A total of 2,112 applications were received from wards 1 to 12 of Siddhicharan Municipality. As many as 1,654 affected residents who applied for 10 to 170 units of shares were allotted the shares as per their application, while 180 units of shares were allotted to 460 applicants who applied for 180 to 1,000 units of shares.

Also, 392 people of the 460 applicants who applied for more than 190 units of shares were allotted a total of 3,925 remaining shares at the rate of 10 shares each through a lottery system.

The remaining five units of shares were distributed similarly at the rate of one share each to five applicants.

A version of this article appears in the print on February 9, 2023, of The Himalayan Times.