Global IME Capital to conclude Chhyangdi Hydropower IPO allotment of 5.40 lakh unit shares on Saturday

The allotment of shares under the Initial Public Offering (IPO) of Chhyangdi Hydropower Limited will be concluded on Asadh 17, 2074. As per an official of Global IME Capital Limited, the issue manager for the IPO, “All the details regarding IPO allotment will be made public on Asadh 17, 2074 (Saturday). The time and venue of the allotment is yet to be finalized” Chhyangdi Hydropower Limited had issued 5,40,000 unit shares worth Rs 5.40 crore as part of its Initial Public Offering (IPO) to the general public from Jestha 14, 2074 till Jestha 18, 2074. The issue had collected around Rs 3.79 arba (Oversubscribed by 74 times) till last day from both regular and ASBA applications. Around 90,098 application forms were received. As per the new allotment guideline introduced by SEBON, the IPO allotment should be completed within 20 days. The hydropower company has set aside 10,800 unit shares for its employees and 5% or 27,000 unit shares for the 11 mutual fund companies. The authorized capital of company is Rs 50 crore.  The paid up capital of the company remains at Rs 21.60 crore. After the IPO for the general public, the paid up will reach Rs 27 crore. Recently, Chhyangdi Hydopower had also issued 2, 70,000 unit IPO shares worth Rs 2.70 crore for the locals of project affected people of Lamjung district. After the IPO, the promoter-people of affected area (Lamjung district) – public ratio of the company will be 70% to 10% to 20%. Chhyangdi was established on September 2, 2007 as a private limited company. The company is developing Channdi Khola Hydropower project (2 MW) in Lamjung district, Nepal.