IPO Allotment of Upper Hewakhola Hydropower Company Concludes; 1 in Every 10 Applicants to Be Allotted with 10 Units
Sat, Jul 16, 2022 11:23 AM on IPO/FPO Result News, Latest,
The IPO allotment of Upper Hewakhola Hydropower Company Limited (UHKHPC) is concluded today at the premises of the issue manager NMB Capital, Nagpokhari, Kathmandu.
Upper Hewakhola Hydropower Company Limited (UHKHPC) had issued 15,00,000 units worth Rs 15 crore as Initial Public Offering to the general public from (Ashad 24-28, 2079).
Out of the offered 15,00,000 units; 2% of the total offered shares to the general public i.e. 30,000 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 75,000 units have been set aside for the mutual funds. The remaining 13,95,000 units are for the general public.
The issue had received applications from 14,52,573 valid applicants who had applied for a total of 1,60,25,940 units. The issue was oversubscribed by more than 11.48 times.
As per the allotment module, a total of 1,39,500 applicants were allotted 10 units each via lottery, and the remaining 13,13,073 applicants were returned empty hands.
A total of 39,150 units were allotted to the staff of the company and 97,875 units were allotted to mutual funds.
In total 2,811 applicants who applied for 34,670 units were disqualified due to duplicate applications.
Allotment Module
The IPO result can be accessed by CDSC IPO Result, NMB Capital, and MeroShare.
The total capital of the company after the allotment of IPO to the general public will reach Rs 50 crore.
Care Ratings Nepal Limited (CRNL) has revised the issuer rating assigned to UHHCL to ‘CARE-NP BB (Is)’. Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations in Nepal.
Upper Hewakhola Hydropower Company Ltd. is a public company, incorporated on March 13, 2012, as Upper Hewakhola Hydropower Pvt. Ltd. Later on, it converted to a public company on June 6, 2018. It is promoted by institutional as well as individual promoters from different backgrounds for setting up an 8.5 MW run-of-river Upper Hewakhola Small Hydropower Project under BOOT (Build, Own, Operate, and Transfer) model located in the Sankhuwasabha district of Nepal.
