Upper Lohore Hydropower Company IPO Allotment To Be Concluded Today; 195,328 Applicants Will Get 10 Units Each

The IPO allotment of Upper Lohore Hydropower Company Limited will take place today, i.e. on 29th Shrawan, 2080. The allotment program will be held at the premises of the issue manager NIC Asia Capital Limited, Kathmandu at 5 pm.

Out of the total 22,91,280 units; 10% i.e. 198,824 units were issued and allotted to Nepalese citizens working abroad, 5% of the total offered shares i.e. 99,412 units were set aside for the mutual funds while 2% i.e 39,765 units were set aside for the employees of the company. The remaining 19,53,279 units were for the general public. The paid-up capital of the company will reach Rs. 50.98 Crores after the IPO issuance.

According to data presented by CDSC, the issue has received approx 10,50,196 applications applied for a total of 11,965,120 units till the last day. Thus, the IPO was oversubscribed by 6.13 times in terms of the number of units through ordinary applicants as of the closing day.

Looking at the data, it is apparent that only 195,328 lucky applicants will get ownership of the company.

Upper Lohore Hydropower Company Limited was established on November 10, 2017, as a private limited company. Later, the company was converted into a public limited company. The company is developing an Upper Lohare Hydropower Project in the Dailekh district. The project is a run-of-the-river type project with an installed capacity of 4MW.