Kathmandu. Singati Hydro Energy Limited's IPO has received 9.16 times more applications than the demand. CDS and Clearing Limited has informed that applications for 2,47,20,450 lots have been received from 1,623,450 applicants till 5 pm on March 26, the last day to apply for the company's IPO.

The company has issued 26.97 million shares to the public since March 20. 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 issued to the public.

The company has already sold IPO to the project affected locals in the first phase and has sold IPO to the general public in the second phase. The company had issued 1.45 million IPOs in the locality from January 19 to March 19.

 The IPO sales manager of the company is Mega Capital Markets Limited. 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. For the first transaction in the secondary market, the net worth or up to three times the value range of the net worth of the company's first transaction of Rs. 100 to Rs. It seems to have a price range of up to 300