IPO Allotment: Upper Lohore Hydropower Company Allotted Shares To Nepalese Employed Abroad on 2nd Shrawan
Wed, Jul 19, 2023 10:30 AM on Latest, IPO/FPO News, Share Allotment,
Upper Lohore Hydropower Company Limited has allotted IPO shares to Nepalese citizens working abroad. The allotment program concluded on 2nd Shrawan, 2080.
The issued capital of the company is Rs. 50.98 Crores of which 10% i.e. 509,804 unit shares worth Rs. 5.09 crores were allocated to project-affected locals of Dailekh District. Meanwhile, 39% of the company's issued capital i.e. 19,88,236 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 198,824 units shares were issued for Nepalese citizens working abroad from the 7th Ashad to the 21st Ashad.
As per the allotment notice, the company hereby informs that the issued units have been allotted to the valid applicants on 2nd Shrawan, 2080.
NIC Asia Capital Limited was appointed as the issue manager for the IPO issuance. Applications could be placed for a minimum of 10 units and a maximum of 25,000 units.
Upper Lohore Hydropower Company Limited was established on November 10, 2017, as a private limited company. Later, the company was converted into a public limited company. The company is developing an Upper Lohore Hydropower Project in the Dailekh district. The project is a run-of-the-river type project with an installed capacity of 4MW.
