Kathmandu. The IPO of Singti Hydro Energy Limited, which has gone public for the general public, has received 1.57 times more applications than the demand. On the first day, 250,000 425 applicants received Rs. 42.31 million 17 thousand equivalent to 42 lakh 31 thousand 170 lots have been applied for.

The company has issued 26.97 million shares to the public. Out of the total 2.9 million IPOs allotted to the public, 58,000 shares have been distributed to the employees of the company and 145,000 shares to the collective investment fund and the remaining shares have been brought to public issue.

The IPO will go on sale soon on March 26 and late on March 30. There is a provision to demand minimum 10 lots and maximum 200,000 lots for IPO purchase. The IPO sales manager is Mega Capital Markets Limited. Along with the sales arrangement, applications can also be submitted from all the participating banks and financial institutions. Applications can also be submitted through CDSC's My Share software.

The company's IPO has been given a Care NP Double B Minus (IS) rating by Care Rating Nepal indicating below-average bases. The company is constructing a 25 MW capacity project. The construction cost of the project is Rs. 220 million is projected. The company has a net worth of Rs. 100.