IPO Allotment: Vision Lumbini Urja Company Allotted Shares To Nepalese citizens working abroad on 15th Ashwin

Vision Lumbini Urja Company Limited has allotted IPO shares to Foreign Nepalese employee. The allotment program concluded on 15th Ashwin, 2080.

The issued capital of the company is Rs. 1.91 Arba of which 10% i.e. 19,12,500 unit shares worth Rs. 19.12 Crores have been allocated to project-affected locals of Kaski District. Meanwhile, 10% of the company's issued capital i.e. 19,12,500 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 191,250 units shares were issued to the Nepalese citizens working abroad from 19th Bhadra to 2nd Ashwin, 2080.

As per the allotment module, the issue had received a total of 29,822 applications for 7.52 lakh units.

In total 1,91,250 units were allotted to 19,125 valid applicants with 10 units each. Applications could be placed for a minimum of 10 units and a maximum of 19,120 units.

Muktinath Capital Limited has been appointed as the issue manager.

ICRA Nepal has reaffirmed the long-term rating of [ICRANP] LBB- (pronounced ICRA NP L double B minus) to Vision Lumbini Urja Company Limited’s long-term loan limits and also reaffirmed the short-term rating of [ICRANP] A4 (pronounced ICRA NP A four) to its short-term loan limits.

Vision Lumbini Urja Company Limited is developing a 25-MW Seti Nadi Hydroelectric Project in the Machhapuchchhre rural municipality of Kaski District, Gandaki Province of Nepal. The project is a run-of-the-river (R-o-R) type and is being developed at a 44.5% probability of exceedance.