KATHMANDU: An overwhelming response was witnessed for the

initial public offering (IPO) of Hydroelectricity Investment and Development Company Ltd (HIDCL). The company’s IPO has been oversubscribed by Rs 1.49

billion within two days of issuance. It has collected Rs 3.35 billion. Issue manager Citizen Investment Trust (CIT) has said that the amount collected till today is through only 40,000 forms. As per CIT, 125,000 forms have been distributed through 31 collection centres outside the Kathmandu Valley and 275,000 forms in the Valley. CIT has assumed that collection will be many times more till the deadline of November 5.