IPO Allotment: Hathway Investment Nepal Allotted Shares To Nepalese Employed Abroad on 25th Shrawan

Hathway Investment Nepal Limited has allotted IPO shares to Nepalese citizens working abroad. The allotment program concluded today morning.

The issued capital of the company is Rs. 1.17 Arba of which 12.5% i.e. 29,25,000 unit shares are issued to the public (Nepalese citizens working abroad and the general public). Out of this total issue, 10% i.e. 292,500 unit shares were issued to the Nepalese citizens working abroad from 4th Shrawan to 18th Shrawan, 2080.

As per the allotment module, the issue had received a total of 27,231 applications for 14,17,180 units. However, there were 5 invalid applicants who had applied for 260 units.

In total 292,500 units were allotted to 14,625 valid applicants with 20 units each.

Global IME Capital Limited was appointed as the issue manager for the IPO issuance. Applications could be placed for a minimum of 20 units and a maximum of 100,000 units. 

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).