Kutheli Bukhari Small Hydropower IPO Allotment To Be Concluded On Sunday; 10,115 Applicants Will Get 10 Units Each

The IPO allotment of Kutheli Bukhari Small Hydropower Limited will take place on Sunday, i.e. on 7th Shrawan, 2080. The allotment program will be held at the premises of the issue manager NMB Capital Limited, Nagpokhari, Kathmandu at 9 am.

Out of the total 121,867 units; 10% i.e. 12,186 units were issued and allotted to Nepalese citizens working abroad, 5% of the total offered shares i.e. 6,093 units were set aside for the mutual funds while 2% i.e 2,437 units were set aside for the employees of the company. The remaining 101,151 units were for the general public. The paid-up capital of the company will reach Rs. 12.18 Crores after the IPO issuance. The company intends to collect Rs 1.01 crore from this IPO.

According to data presented by CDSC, the issue has received approx 973,353 applications applied for a total of 10,481,890 units till the last day. Thus, the IPO was oversubscribed by 103.62 times in terms of the number of units through ordinary applicants as of the closing day.

Looking at the data, it is apparent that only 10,115 lucky applicants will get ownership of the company.

Kutheli Bukhari Small Hydropower Ltd. was incorporated on August 11, 2011, as a private limited company and was converted to a public limited company on January 28, 2015, to facilitate public participation. The company is operating a 0.998-MW Suspa Bukhari Khola Small HPP in the Dolakha district, Madhesh Province of Nepal. It is a run-of-the-river (R-o-R) type project with a 40% probability of exceedance (Q40). The project started commercial operation on September 20, 2015, and was developed at a total cost of ~NPR 248 million.