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Dibyashwari Hydropower Company Limited has concluded its IPO allotment today at the premises of issue manager Ace Capital Limited, Narayanchaur, Naxal, Kathmandu at 1:00 PM.
Allotment for investors who had applied from Rs 5,000 or 50 units to Rs 87,000 or 870 units shares was decided through lottery and investors who had applied for Rs 88,000 or 880 units to Rs 98,000 or 980 units get 10 units flat and remaining investors who applied for Rs 99,000 or 990 units to Rs 1,00,000 or 1,000 units were allotted 11 units or 1.10 % on pro-rata basis.
Dibyashwari Hydropower Company Limited had issued 3, 96,000 unit shares worth Rs 3.96 crore as part of its Initial Public Offering (IPO) from Ashad 13, 2073 till Ashad 16, 2073.
Ace Capital Limited has been assigned as the issue manager for the IPO issue.
Of the total 3.68 lakh unit shares set aside for general public, 40% or 147,312 shares, were put aside for retail investors and 60% or 220,968 shares, under “other investor” category. Retail investors applied for a total of 17,166,010 unit shares and those in the others category demanded 16,623,230 units shares. Here, the total demand from the retails investors group exceeds more that 40% of total demand. When the demand from retail investors group exceed more than 40% of total demand then as per SEBON allotment directives, allotment is done as per flat basis.
The shares set aside for retail investors were oversubscribed by 116.53 times and those set aside under other category were oversubscribed by 75.23 times.
Of the total 112,644 applicants’ only 35,292 investors got the shares including 8 mutual funds. There were only 99 invalid applicants.
After the IPO, the paid up capital will reach Rs 26.40 crore from the current Rs 19.80crore which includes Rs 2.64 crore collected from the project-affected area. The hydropower has authorized capital of Rs 56 crore.
After the IPO, the promoter-people of affected area (Sankhuwasabha district) – public ratio of the company will be 75% to 10% to 15%.
ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below average fundamentals to the proposed IPO of Dibyashwari Hydropower.
The Hydropower project is situated at Dhupu VDC in Sankhuwasabha. The Hydropower project has the capacity of generating 4 MW electricity. From the beginning of next fiscal year the hydropower project will start generating revenue.
CLICK HERE to view IPO Result
Source: Sharesansar.com
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