Supermai Hydropower IPO Allotment to be Concluded Tomorrow Morning

The IPO allotment of Supermai Hydropower Limited will take place tomorrow morning, i.e. on 4th Falgun, 2079. The allotment program will be held on the premises of the issue manager Sanima Capital Limited, Naxal.

The company issued 4,15,000 units of shares of Rs 100 face value as an Initial Public Offering worth Rs 4.15 crore to the general public from the 23rd Magh till the 26th Magh. Out of the total 500,000 units; 10% i.e. 50,000 units have already been issued and allotted to Nepalese citizens working abroad, whereas 2% i.e 10,000 units have been set aside for the employees of the company and 5% of the total offered shares i.e. 25,000 units have been set aside for the mutual funds. The remaining 4,15,000 units are for the general public.

The paid-up capital of the company will reach Rs. 50 Crores after the IPO issuance.

ICRA Nepal has upgraded the issuer rating of Super Mai Hydropower Limited to [ICRANP-IR] BBB- (pronounced ICRA NP issuer rating triple B minus) from [ICRANP-IR] BB+ (pronounced ICRA NP issuer rating double B plus). Issuers with this rating are considered to have a moderate degree of safety regarding the timely servicing of financial obligations.