IPO Allotment of Sanima Middle Tamor Hydropower Concludes; 4,24,893 Applicants Get 10 Units Each, Lucky 8 Applicants Get 1 Unit Extra
Wed, Mar 22, 2023 10:12 AM on IPO/FPO Result News, Latest,
The IPO allotment of Sanima Middle Tamor Hydropower Limited is concluded today at the premises of Sanima Capital Limited, Kathmandu.
Sanima Middle Tamor Hydropower Limited had issued 42,48,938 units worth Rs 42.48 crores as Initial Public Offering (IPO) to the general public (Falgun 26- 30, 2079).
Out of the total 49,98,750 units; 10% i.e. 499,875 units have already been issued and allotted to Nepalese citizens working abroad, whereas 5% of the total offered shares i.e. 249,937 units have been set aside for the mutual funds. The remaining 42,48,938 units are for the general public.
The paid-up capital of the company will reach Rs. 3.33 Arba after the IPO issuance.
The issue had received applications from 13,48,342 valid applicants who had applied for a total of 1,49,72,020 units. The issue was oversubscribed by more than 3.52 times.
As per the allotment module, a total of 4,24,893 applicants were allotted 10 units each via lottery, and lucky 8 applicants got 1 unit extra and the remaining 9,23,449 applicants were returned with empty hands.
A total of 249,937 units were allotted to the mutual funds.
In total 7,999 applicants who applied for 1,16,860 units were disqualified.
Allotment Module:
The IPO result can be accessed by CDSC IPO Result, MeroShare, and Sanima Capital Limited.
Earlier, the company had issued 33,32,500 unit shares worth Rs. 33.32 crores to the project-affected locals and 4,99,875 unit shares to Nepalese citizens working abroad. Overall, 70% of shares are of the promoter shareholders in the company.
CARE Ratings Nepal Limited (CRNL) has reaffirmed the rating of ‘CARE-NP BB’ to the long-term bank facilities of Sanima Middle Tamor Hydropower Limited.
Sanima Middle Tamor Hydropower Limited was established and incorporated in the year 2016 as a Special Purpose Vehicle (SPV) Company with its Office located at Dhumbarahi, Kathmandu Nepal for the implementation and operation of the Middle Tamor Hydropower Project. It is promoted by individual promoters from different backgrounds, institutional investors majorly related to the Sanima Hydro group, Non-resident Nepalis, and other institutions which include Banks, Insurance, and investment companies. SMTHL is one of the sister organizations of Sanima Hydro Group which was initiated with the establishment of Sanima Hydropower Limited in 1999 B.S. Sanima Hydropower Ltd. was established as a public company with the primary objective of harnessing the vast potential of Nepal’s hydropower sector. The company developed and commissioned Sunkoshi Small Hydropower Plant (2.6 MW) in the year 2005. It is setting up a 73 MW run-of-river, Middle Tamor Hydropower Project in the Taplejung district of Nepal. The project is constructed under the BOOT (Build, Own, Operate, and Transfer) mechanism.
