Nepal Hydro IPO allotment concludes; 36,270 applicants allotted with 10 kitta share through lottery
Fri, Sep 15, 2017 10:27 AM on Latest, IPO/FPO News, IPO/FPO Result News, Featured, Stock Market,
NMB Capital Limited, the issue manager for the IPO of Nepal Hydro Developer Limited, has allotted 3,90,00 units IPO shares today. The allotment was held at NMB Capital’s premises in Nagpokhari, Kathmandu at 9:00 AM.
Out of 1,71,592 valid applicants, only 36,270 applicants have been allotted a minimum number of 10 units through lottery. Also, mutual funds were allotted with 19,500 unit shares and staffs of the company were allotted with 7,800 unit shares.
There were 1,73,501 applicants but application of 1,909 applicants were cancelled due to double application, mistakes in Demat account number and application made for more or less than mentioned kitta.
Allotment was concluded in the presence of Tola Kanta Neupane from SEBON, Rajan Kumar Basnet from CRO, Shreejesh Ghimire, CEO of NMB Capital, Kamal Nepal, COO of NMB Capital and other staffs from NMB Capital, media persons and investors.
The blocked amounts of the applicants will be unfreezed after 3 working days from the notice sent by the capital to respective bank.
Nepal Hydro Developer had issued its Initial Public Offering (IPO) of 3,90,000 units shares worth Rs 3.90 crore at Rs 100 per unit from Shrawan 27, 2074 till Shrawan 32, 2074.
Applicants were required apply for a minimum of 50 units of shares and they could apply for up to 1,000 units shares.
Nepal Hydro Developer is the first company to issue IPO from full ASBA services all over Nepal.
The authorized capital of the company is Rs 60 crore. The paid up capital of the company remains at Rs 22.10 crore. After the IPO for the general public, the paid up has reached 26 crore.
The main promoters of the hydropower company are Gyanendra Lal Pradhan, Kumud Kumar Dugar, Pashupati Murarka and Dev Kishan Mundara.
ICRA Nepal has assigned “[ICRANP] IPO Grade 4” grading to the upcoming Initial Public Offering (IPO) of Nepal Hydro developer, indicating below average fundamentals.After this IPO, the promoter, people of affected area (Dolakha district) – public shareholding ratio of the company has been restructured to 75% to 10% to 15%.
Nepal Hydro Developer Limited has developed a 3.52 MW Charanwati Hydroelectric project in Dolakha district with an annual energy generation of 37.29 GW hr. It had earlier floated 2,60,000 units shares worth Rs 2.60 crore as part of its Initial Public Offering for the locals of Dolakha district on Mangsir 26, 2073.
Allotment Module:
The blocked amounts of the applicants will be unfreezed after 3 working days from the notice sent by the capital to respective bank.
Nepal Hydro Developer had issued its Initial Public Offering (IPO) of 3,90,000 units shares worth Rs 3.90 crore at Rs 100 per unit from Shrawan 27, 2074 till Shrawan 32, 2074.
Applicants were required apply for a minimum of 50 units of shares and they could apply for up to 1,000 units shares.
Nepal Hydro Developer is the first company to issue IPO from full ASBA services all over Nepal.
The authorized capital of the company is Rs 60 crore. The paid up capital of the company remains at Rs 22.10 crore. After the IPO for the general public, the paid up has reached 26 crore.
The main promoters of the hydropower company are Gyanendra Lal Pradhan, Kumud Kumar Dugar, Pashupati Murarka and Dev Kishan Mundara.
ICRA Nepal has assigned “[ICRANP] IPO Grade 4” grading to the upcoming Initial Public Offering (IPO) of Nepal Hydro developer, indicating below average fundamentals.After this IPO, the promoter, people of affected area (Dolakha district) – public shareholding ratio of the company has been restructured to 75% to 10% to 15%.
Nepal Hydro Developer Limited has developed a 3.52 MW Charanwati Hydroelectric project in Dolakha district with an annual energy generation of 37.29 GW hr. It had earlier floated 2,60,000 units shares worth Rs 2.60 crore as part of its Initial Public Offering for the locals of Dolakha district on Mangsir 26, 2073.
Allotment Module:
