Himalaya Urja IPO Allotment Result - 66,950 Lucky Applicants Allotted Maximum 20 Unit Shares Each !

IPO ALLOTMENT:

Himalaya Urja Bikas Company Ltd. (HUBCL) has successfully concluded its initial public offering (IPO) on Tuesday afternoon at 1:00 PM today, 16th April 2019 (3rd Baishakh 2076) in Indreni Banquet, New Baneshwor, Kathmandu. The company had floated 1,485,000 unit shares worth Rs 148.5 million (Rs 14.85 lakhs) at a face value of Rs 100 each to the general public, for four working days, starting from Wednesday 3rd April 2019 (20th Chaitra 2075) to Monday 8th April 2019 (25th April 2075) just over a week ago.

According to Nabil Investment Banking Ltd., its issue manager, the issue had received 69,708 applications for 4,895,850 total unit shares with 3.58 times oversubscription, of which 38 applications for 2,800 unit shares were deemed invalid due to errors and of the remaining 69,670 valid applications for 48,93,050 unit shares, all were allotted 10 mandatory unit shares each initially and the remaining unit shares were then allotted again to 66,950 lucky applicants through lottery system an additional 10 unit shares each, on pro rata basis so that 66,950 (96.1%) of the valid applicants have been lucky enough to be allotted with a maximum of 20 unit shares and 2,720 (3.9%) with a minimum of 10 only, thus leaving none empty handed.

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Panchakanya Mai Hydropower IPO Allotment, 68% Applicants with 10 Units Lottery !

IPO ALLOTMENT:

The allotment of the Initial Public Offering (IPO) of Panchakanya Mai Hydropower Ltd. (PMHL) will soon be concluded by this Friday 27th July 2018 (11 Shrawan 2075) by Sunrise Capital Ltd., its issue manager. Nearly 68% of the total applicants verified will be allotted with a minimum 10 unit shares of its IPO by the lottery system.

The company had issued 11,00,000 unit shares at a face value of Rs 100 per unit share for 4 days just last week starting from Monday 17th July 2018 (1st Shrawan 2075) till Friday 20th July 2018 (4th Shrawan 2075). Of the total unit shares, 44,000 (4%) units were set aside for employees whereas another 55,000 (5%) units were set aside for mutual funds. Thus, the remaining 10,01,000 (91%) units were available for the general public.

The company has collected over Rs 1.84 arba from nearly 1.50 lakh applicants and IPO is oversubscribed by nearly 18.4 times. As per the directory published by Securities Board of Nepal (SEBON), the rule of "10 units for applicants" prevails in the allotment and a total of 1,00,100 (68.38%) lucky applicants will be allotted at the rate of 10 unit shares, provided each valid applicant is allotted a minimum of 10 unit mandatory shares through the lottery system and the remaining 46,289 (31.62%) applicants will unfortunately be empty handed.

The company had earlier issued Initial Public Offering (IPO) shares of 11,00,000 units shares worth Rs 11 crore at par value of Rs 100 per unit to the project affected local residents of Sandakpur Rural Municipality and Ilam Municipality last year. It has generated 9.98 MW electricity from its project area - Mabu, Maimjhuwa and Sulubung VDC of Illam district. In addition, the company’s 6.1 MW Upper Mai (Cascade) Hydropower Project is in final stage of construction. 

With this IPO issue, its paid-up capital will hike to Rs 1.10 arba and the promoter's holding will dilute to 80%. Its 10% shares have already been issue to locals of the project area and other 10% are soon to be allotted to the general public.

ICRA Nepal has assigned Grade 4 rating to the upcoming IPO issue indicating below average fundamentals.

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Radhi Bidyut Company Limited (RBCLL) IPO Result, Check if You're Lucky!

Radhi Bidyut Company Limited (RBCLL) has allocated its 7,64,550 units Initial Public Offering (IPO) shares worth Rs 76.4 million (Rs. 7.64 crores) today Wednesday morning inside Nabil Investment Banking premises in Naxal, Kathmandu at 9:00 AM. According to Nabil Investment Banking Limited, the issue manager of the IPO, out of 1,64,990 valid applicants, only 71,102 applicants were provided a minimum of 10 unit mandatory shares through the lottery system and one lucky applicant was allotted with 11 unit shares.

Of the total 1,66,317 applications, 1,327 were canceled due to double application, mistakes in Demat account number and application made for more or less than mentioned kitta. Nearly 95,214 applicants were unable to receive the IPO. Also, mutual funds were allotted with 38,228 unit (5%) shares and staffs of the company were allotted with 15,291 unit (2%) shares. The remaining 711,031 units (93%) were issued to the general public.

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