Aankhukhola’s IPO to be allotted within Kartik 07; Applicants to receive 10 units from lottery

The issue manager of Aankhu Khola Hydropower Company i.e. Civil Capital has stated that the IPO allotment will be made within Kartik 07, 2075.

The initial public offering (IPO) of Aankhu Khola Hydropower Company for the general public was floated from Ashwin 24^th, 2075 to Ashwin 26th, 2075. The issue has received 85,880 applications amounting to Rs. 59 crore 36 lakh i.e. for 59 lakhs 36 thousand units. The issue has been oversubscribed by 4 times.

The hydropower company issued 13,76,020 unit shares which include 12 lakh units previously reserved for general public and 1,76,020 units unsubscribed portion issued to the locals.

Out of the total 13,76,020 units, 5% i.e. 68,801 units have been reserved for mutual funds which have already been allotted to NIC Asia Growth Fund (NICGF) and Nabil Equity Fund (NEF) and 2% i.e. 27,520 units are reserved for the employees of the company.

ICRA Nepal had assigned Grade 5 rating to the IPO which indicates poor fundamentals of the company.

The paid-up capital will reach Rs 80 crore with promoter shares standing at Rs 60 crore. The hydropower company is currently operating Ankhu Khola -1 Hydro electric project having installed capacity of 8.4 MW situated at Tripura Sundari Gaun Palika of Dhading District