IPO Allotment of Chirkhwa Hydro Power To Be Concluded on Thursday; Lucky 85,930 Applicants Will Get 10 Units Each
Tue, Oct 31, 2023 2:16 PM on Dividend, Bonus & Rights, Share Allotment, Latest,
The IPO allotment of Chirkhwa Hydro Power Limited will take place this Thursday, i.e. on 16th Kartik, 2080. The allotment program will be held at the premises of the issue manager RBB Merchant Banking Limited, Kathmandu at 1 PM.
Out of the total 9,95,300 units; 80,000 units have already been allotted to Nepalese citizens working abroad, 40,000 were set aside for mutual funds and 16,000 units were set aside for the employees of the company. The remaining 8,59,300 units were issued to the general public at a par value of Rs. 100.
According to CDSC, 873,180 applicants applied for a total of 95,68,430 units worth Rs. 95.69 Crores as of closing day. Thus, the issue was oversubscribed by 11.14 times so far.
Looking at the data, it is apparent that only 85,930 lucky applicants will get ownership of the company.
ICRA Nepal has reaffirmed the issuer rating of [ICRANP-IR] BB- (pronounced ICRA NP issuer rating double B minus) to Chirkhwa Hydropower Limited. Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations.
