Nyadi Hydropower's IPO Allotment Concludes; Only 2,09,250 Applicants Celebrate; 20,31,888 Applicants Return Empty-Handed

The IPO allotment of Nyadi Hydropower Limited has concluded today at the office of issue manager Global IME Capital Limited, Naxal. 

Nyadi Hydropower Limited had issued 22,50,000 units worth Rs 22.5 crore as Initial Public Offering to the general public from (Ashwin 15-19, 2078). 

Out of the offered 22,50,000 units; 2% of the total offered shares to the general public i.e. 45,000 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 1,12,500 units have been set aside for the mutual funds. The remaining 20,92,500 units are for the general public.

Global IME Capital Limited is the issue manager and NMB Capital Limited is the co-issue manager for the IPO issuance.

The issue had received applications from 22,41,138 valid applicants who had applied for a total of 2,69,05,080 units. The issue was oversubscribed by more than 12.85 times. 

As per the allotment module, a total of 2,09,250 applicants were allotted 10 units each via lottery, and the remaining 20,31,888 applicants returned empty hands. 

A total of 45,000 units were allotted to the staff of the company and 1,12,500 units were allotted to the mutual funds.

In total 10,442 applicants who applied for 1,41,040 units were invalid.

Allotment Module:

The IPO result can be accessed by iporesult.cdsc.com.np, GLobal IME Capital, and http://meroshare.cdsc.com.np.

The company has 1,50,00,000 registered shares of which 40,50,000 shares are issued to the public (Locals and general Public) and employees of the promoter institutions. This is 27% of the company's paid-up capital. 

After the IPO is issued in two phases, first to locals and employees of the promoter institutions (18,00,000 units is already issued) and then to the general public, the promoter: public shareholding ratio of the company will be 73:27, and paid-up capital will be Rs 1.5 Arba.

CARE Ratings Nepal Limited (CRNL) has assigned an Issuer rating of ‘CARE-NP BBB – (Is) [Pronounced triple B Minus (Issuer Rating)]’ to Ngadi Group Power Limited. Issuers with this rating are considered to have a moderate degree of safety regarding timely servicing of financial obligations, in Nepal.

Nyadi Hydropower Limited is a public company, incorporated on March 1, 2007. It is promoted by Butwal Power Company Limited (BPCL) and Lamjung Electricity Development Company Ltd. (LEDCO) for setting up a 30 MW run-of-river, Nyadi Hydropower Project (NHP) in Marshyangdi Municipality, Lamjung district of Nepal.