IPO allotment of Liberty Energy Company concludes; all applicants applying till 30 units allotted with full applied units and lucky 25,620 applicants get 10 units extra via lottery

The IPO allotment of Liberty Energy Company Limited is concluded today at the premises of NIBL Ace Capital Limited. 

Liberty Energy Company Limited has issued 35,64,930 units (including 13,14,930 units unsubscribed by locals) worth Rs 35.64 crore as Initial Public Offering to the general public from Bhadra (3-7), 2077.

The issue had received applications from 1,88,373 applicants who had applied for a total of 54,38,090 units. The issue was oversubscribed by more than 1.53 times. 

As per the allotment module; 94,904 applicants were allotted 10 units; 45,048 applicants were allotted 20 units; 11,863 applicants were allotted 30 units and 25,620 applicants will get extra 10 units each via lottery.

A total of 6,100 units were allotted to the staff of the company out of 45,000 units provisioned and none of the mutual funds applied for the issue. A total of 1,12,500 units were provisioned for mutual funds.

In total 126 applicants who applied for 3,960 units were disqualified.

The IPO result can be accessed by sharesansar.com- IPO result page soon.

The chairman of Liberty Energy Company Mr. Atma Ram Ghimire expressed his gratefulness towards all the parties who made this possible, including the issue manager, regulatory bodies, media portals, and investors themselves.

He also acknowledged the fact that the IPO issued to the locals was unsubscribed because of the barriers posed by Covid-19 and the lockdown.

Lastly, he promised that the company will work towards generating electricity as early as possible, earn revenue, and distribute a dividend to the investors as proposed.

Allotment Module:

After the issuance of 37.50 lakhs units IPO shares to locals and general public i.e 25% of total capital which will together raise its paid-up capital to Rs 1.50 Arba.

ICRA Nepal Limited had assigned an [ICRANP] IPO Grade 4 to the Rs.37.50 Initial Public Offer of Liberty Energy Company Limited. Instruments with this grading are considered to have below-average fundamentals.

The company is developing the 25 MW Upper Dordi ‘A’ HEP in Faleni and Dhodeni VDC, Lamjung district of western Nepal. The per megawatt cost of the project (including IDC) is Rs 18.54 crore and its payback period is 9.20 years.