KATHMANDU: The initial public offerings (IPO) of Ru Ru Jalabidhyut Pariyojana have been distributed.

The IPO was distributed at the office of NMB Capital, the issue manager, on Friday morning.

A total of 37,916 subscribers have received 10 units of IPO each and other remaining seven units have been distributed through lottery among seven people who had applied for more than 10 units of shares.

Of the total 1,590,896 applications received, 8, 535 had been declared invalid.

The hydropower had issued a total of 407,706 units of shares for Rs 120 per unit of share on April 2.

The IPO results can be viewed at https://iporesult.cdsc.com.np/.

ICRA Nepal has rated this project as Grade 3. Ru Ru hydro project has already sold IPO to the locals hit by the project.