IPO Allotment of Makar Jitumaya Suri Hydropower Concludes; 1,33,730 Applicants Get 10 Units Each, Lucky 2 Applicants Get 1 Unit Extra

The IPO allotment of Makar Jitumaya Suri Hydropower Company Limited is concluded today at the premises of Prabhu Capital Limited, Kathmandu. 

Makar Jitumaya Suri Hydropower Company Limited had issued 1,337,302 units worth Rs 13.37 crores as Initial Public Offering (IPO) to the general public (Chaitra 19- 22, 2079). 

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.

Overall, 70% of shares are of the promoter shareholders in the company.

The issue had received applications from 12,81,402 valid applicants who had applied for a total of 1,38,33,110 units. The issue was oversubscribed by more than 10.34 times. 

As per the allotment module, a total of 1,33,730 applicants were allotted 10 units each via lottery, and lucky 2 applicants got 1 unit extra and the remaining 11,47,672 applicants were returned with empty hands. 

A total of 80,070 units were allotted to the mutual funds and 32,028 units were allotted to the employees of the company.

In total 5,974 applicants who applied for 78,080 units were disqualified.

Allotment Module:

The IPO result can be accessed by CDSC IPO Result, MeroShare, and Prabhu Capital Limited.