Khanikhola Hydropower IPO allotment on Shrawan 11; offer oversubscribed by 73 times

Fri, Jul 22, 2016 1:47 PM on Latest, Featured, Share Allotment, Stock Market,
The allotment of shares under the Initial Public Offering (IPO) of Khanikhola Hydropower Company Limited will be made public on Shrawan 11, 2073. Mr. Paraag Bista, CEO of Civil Capital Markets Limited said, “All the details regarding IPO allotment will be made public on Shrawan 11 at the premises of Civil Capital located at Kamaladi, Kathmandu.” The time of the allotment is yet to be finalized added Mr. Bista. KhaniKhola Hydropower Company had floated its Initial Public Offering (IPO) 9, 31,429 unit shares worth Rs 9.31 crore as part of its initial public offering (IPO) from Jestha 16, 2073 till Jestha 19, 2073 The IPO was oversubscribed by 73 times till last day. Around 1 lakhs 35 thousand application forms were received till last day of the IPO. Interested people were required to apply for a minimum of 10 units of share and they can apply for up to 1,000 units of share. Civil Capital Market Limited has been assigned as the issue manager for the IPO issue. The hydropower company has set aside 18,629 unit shares for its employees and 46,571 unit shares for the 8 mutual fund companies. The company has set aside 8, 66,229 unit share to the general public. The authorized and issued capital of company is Rs 50 crore and Rs 46.57 crore respectively.  The paid up capital of the company remains at Rs 19.80 crore. After the IPO issuance, the promoter-people of affected area (Bhattedanda, Ikudole, Sankhu) – general public ratio of the company will be 70% to 10% to 20%. ICRA Nepal has assigned an “[ICRANP] IPO Grade 4+”, indicating below average fundamentals to the proposed initial public offering (IPO) of KhaniKhola Hydropower.