Hathway Investment Nepal IPO Collects Rs. 1.06 Arba Till Third Day; Oversubscribed 8.75 Times So Far

CDS & Clearing Limited (CDSC) has reported the data of public IPO collection of Hathway Investment Nepal Limited as of 10 am today i.e. Bhadra 24.

The company has been issuing 24,27,750 unit IPO shares with a face value of NPR 50 per share to the general public from 21st Bhadra, 2080. The early closing date of this issue is on 25th Bhadra and if the issue is not fully subscribed, it can be extended up to 4th Ashwin, 2080.

The issued capital of the investment company is Rs. 1.17 Arba of which 12.50% i.e. 29,25,000 unit shares is for the public (Nepalese citizens working abroad and the general public). Out of this total issue, 10% i.e. 292,500 unit shares were allocated for Nepalese citizens working abroad, whereas 2% i.e. 58,500 units have been set aside for the employees of the company and 5% of the total offered shares i.e. 146,250 units have been set aside for the mutual funds. The remaining 24,27,750 units are for the general public.

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, 882,008 applicants have applied for a total of 21,240,760 units worth Rs. 1.06 Arba. Thus, the issue has already been oversubscribed by 8.75 times so far.

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).