Hathway Investment Nepal Closing 292,500 Unit IPO Issue For Nepalese Employed Abroad From Today
Thu, Aug 3, 2023 8:55 AM on Latest, IPO/FPO News,
Hathway Investment Nepal Limited is closing the issue of 292,500 unit IPO shares to Nepalese citizens working abroad today i.e. on the 18th Shrawan. The issue opened on 4th Shrawan, 2080.
The issued capital of the company is Rs. 1.17 Arba of which 12.5% i.e. 29,25,000 unit shares will be issued to the public (Nepalese citizens working abroad and the general public). Out of this total issue, 10% i.e. 292,500 unit shares have been allocated for Nepalese citizens working abroad, the issue of which will close today.
Whereas 2% of the total offered shares i.e. 58,500 units have been set aside for the employees of the company and 5% or 146,250 units have been set aside for the mutual funds. The remaining 24,27,750 units will be issued later to the general public.
The issue will raise Rs. 14.625 crores for the company since each share will be issued at a face value of Rs. 50 per share. The current paid-up capital of the company is Rs. 1.023 Arba which will reach Rs 1.17 Arba after IPO allotment.
Global IME Capital Limited is appointed as the issue manager. Applications can be placed for a minimum of 20 units and a maximum of 100,000 units.
According to CDSC, 26,172 applications have been received through Nepalese citizens working abroad for a total of 14,13,840 units so far.
Hathway Investment Nepal Limited is an investment company, registered as a public company in 2009 and commenced its operation in 2011. Hathway invests/trades in various listed, unlisted securities, and real estate, among others. The company’s registered and corporate office is in Hathway Complex, Lainchaur, Kathmandu.
ICRA Nepal has assigned a long-term rating of [ICRANP] LBBB- (pronounced ICRA NP L triple B minus) to the long-term bank limits and reaffirmed the short-term rating of [ICRANP] A3 to the short-term bank limits of Hathway Investment Nepal Limited. ICRA Nepal has also reaffirmed the issuer rating of the company at [ICRANP-IR] BBB- (pronounced ICRA NP issuer rating triple B minus).
