Kathmandu. Bungal Hydro Power Company Limited (BHPCL) has issued an initial public offering (IPO).

The company had issued 17,01,500 units of shares worth Rs 17,01,50,000 to the general public from September 1 to 24. Out of them, 2,175,888 applicants had applied for 2,37,38,910 units of shares.

According to Himalayan Capital, issue manager of the company, 2,143,250 applications have been approved.

The IPO has been allotted through lottery as there have been more applications than the demand. A total of 1,70,150 people have been allotted 10 units of shares.

The results of the IPO can be accessed by Bungal Hydro, Himalayan Capital, issue manager and CDSC.