Last Day to Apply for IPO of Vision Lumbini Urja Company Limited: Issue Oversubscribed by 4.76 Times

Vision Lumbini Urja Company Limited is closing the issue of 20,75,285 unit IPO shares at a par value of Rs. 100 from today i.e. on 20th Kartik. The issue opened on 16th Kartik, 2080.

Earlier, the company had issued 19,12,500 unit shares to the project-affected locals of Kaski District out of which only 14,24,590 units were allotted to valid applicants. Thus, the remaining 4,87,910 units of unsubscribed shares of project-affected locals were added to 19,12,500 units to make a total of 24,00,410 units for the general public.

Out of the total 24,00,410 units; 191,250 units have already been allotted to Nepalese citizens working abroad, and 95,625 units are allocated for mutual funds while 38,250 units have been set aside for the employees of the company. The remaining 20,75,285 units are being issued to the general public.

Muktinath Capital Limited is appointed as the issue manager. Applications can be placed for a minimum of 10 units while the maximum quantity is 380,000.

According to CDSC, 8,47,770 applicants have applied for a total of 98,80,430 units. Thus, the issue has already been oversubscribed by 4.76 times as of 5 PM yesterday evening.

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.