Sagarmatha Jalbidhyut Company IPO Allotment Concludes: Lucky 3,58,176 Applicants Gets 10 Units Each

The IPO allotment of Sagarmatha Jalvidyut Company Limited is concluded today at the premises of Prabhu Capital Limited, Kamaladi.

Out of the total 43,68,000 units allocated for the general public; 10% i.e. 436,800 units had already been issued and allotted to Nepalese citizens working abroad, 5% of the total offered shares i.e. 218,400 units have been set aside for the mutual funds while 3% i.e 131,040 units have been set aside for the employees of the company.

The remaining 35,81,760 units were issued for the general public from 8th -12th Chaitra, 2079.

The paid-up capital of the company will reach Rs. 1.12 Arba after the IPO issuance. And the promoter - public share ratio would be 51 : 49. 

The issue had received applications from 13,93,153 valid applicants who had applied for a total of 1,51,87,990  units. The issue was oversubscribed by more than 4.24 times. 

As per the allotment module, a total of 3,58,176 applicants were allotted 10 units each via lottery, and the remaining 10,34,977 applicants were returned with empty hands. 

The IPO result can be accessed by  https://results.prabhucapital.com and https://iporesult.cdsc.com.np

Earlier, the company had issued IPO of 11,20,000 units to raise Rs 11.20 crore to the project-affected locals of Illam District from 5th Magh to 5th Fagun, 2079. The same along with the IPO allocated for the foreign migrant workers were allotted on 25th Fagun. 2079. 

Sagarmatha Jalbidhyut Company Ltd was established in November 2015 in Kathmandu, Nepal under the Company Act 2053 of the government of Nepal. The company together with its subsidiaries and jointly controlled entities has an installed gross generation capacity of over 18 MW.

The company has been successfully generating 9.6 MW electricity and supplying to NEA from its promoted Super Mai A Hydropower project since 32nd Jestha, 2077.