How Many Have Applied for Public Issue of "Makar Jitumaya Suri Hydropower Company" So Far?

CDS & Clearing Limited (CDSC) has reported the data of public IPO collection of Makar Jitumaya Suri Hydropower Company Limited as of 5 pm today i.e Chaitra 20.

The company has been issuing 1,337,302 unit shares of Rs 100 face value as Initial Public Offering to the general public from 19th Chaitra, 2079. The early closing date of this issue is on 22nd Chaitra and if the issue is not fully subscribed, it can be extended up to 3rd Baisakh, 2080.

Out of the total 15,20,000 units i.e. 20% of the issued capital; 10% or 152,000 units have already been issued and allotted to Nepalese citizens working abroad, whereas 2% i.e 32,028 units have been set aside for the employees of the company and 5% of the total offered shares i.e. 80,070 units have been set aside for the mutual funds.

Earlier, the company had issued 760,000 unit shares worth Rs. 7.6 crores to the project-affected locals of Dolakha District out of which only 6,78,600 units were allotted to valid applicants. Thus, the remaining 81,400 units of unsubscribed shares of project-affected locals are added to 12,55,902 units (which is reserved for the general public) to make a total of 13,37,302 units for the general public.

Prabhu Capital Limited is appointed as the issue manager for the IPO issuance. Applications can be placed for a minimum of 10 units and a maximum of 10,000 units.

According to CDSC, 730,267 applicants have applied for a total of 82,05,050 units. Thus, the issue is already oversubscribed by 6.13 times so far.

CARE Ratings Nepal Limited (CRNL) has reaffirmed the issuer rating of ‘CARE-NP BB (Is)’ assigned to Makar Jitumaya Suri Hydropower Limited. Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations, in Nepal