Upper Tamakoshi IPO Allotment Tuesday, 40 Unit Shares Confirm!

IPO:

The allotment of the Initial Public Offering (IPO) of Nepal’s much hyped dream hydropower project ‘Upper Tamakoshi Hydropower Project’ was finally concluded today Tuesday afternoon 27th November 2018 (11 Mangsir 2075) by Sunrise Capital Ltd., its issue manager. The allotment was held at 3:00 PM amidst a program organized at Crystal Banquet, Babarmahal, Kathmandu. According to the issue manager, Sunrise Capital Ltd., the issue has been able to attract the most number of applicants in the history of Nepalese stock market. A total of 3,39,775 applicants had applied for 1,50,90,750 unit shares of the company with the the total demand of 4,46,18,843 unit shares with the final worth of over Rs 6.70 billion. The issue was thus oversubscribed by 4.46 times. 

Of the total applications, 5,700 have been disqualified due to double application. All the 3,34,075 valid applications were initially each allotted a minimum of 40 unit shares, while 1,72,775 of these applications were each lucky enough to receive additional remaining 10 unit shares through the lottery system.

Citizen Investment Trust (CIT) and Sunrise Capital Ltd. have been appointed as the issue managers for the IPO issuance. The hydropower company had floated 15,885,000 unit total shares for the general public, i.e., 15% of their paid up capital.

Check the link below to read/download the ALLOTMENT MODULE and RESULTS:

Check HERE for DETAILS:

Madhya Bhotekoshi Hydropower IPO Issue Opens Today, Check Your Eligibility !

IPO:

Madhya Bhotekoshi Hydropower Company (MBKHPL) IPO is floated from today. The first phase of the issue will be only for the members registered with Employees Provident Fund (EPF). The issue will last till 14th Mangsir, 2075. Members registered under EPF can apply for a minimum of 50 units and maximum of 500 units.

In the second phase of the issue, employees of the Promoter shareholding companies, employees of the lending institute and employees of EPF can apply for a stake in the hydropower project. The second phase of the issue will start from 19th Mangsir, 2075 and last till 26th Mangsir, 2075. 27 Lakh units of IPO will be available in the second phase of the issue. Employees of the promoter Shareholding Company and lending institute can apply for minimum 50 units and maximum 500 units while employees of EPF can apply for minimum of 50 units and maximum 1200 units.

Global IME Capital has been appointed as the issue manager while NIBL Ace Capital, Prabhu Capital, Laxmi Capital, Sanima Capital, Civil Capital and CBIL Capital have be appointed as other co-issue managers.

The authorized capital of the company is Rs. 6.21 Arba while the issued capital is Rs.6 arba. After the completion of the issue, promoter shareholder will be holding 51% stake (3.06 Crore units) in the company, employees registered with EPF will hold 19.5% (1.17 Crore units), employees of promoter shareholding companies will hold 3.5% stake (21 Lakh units) and employees of the lending institute will hold 1% (6 Lakh units).

The hydropower company will be issuing a total of 1.44 Crore units to the above mentioned employees. The interested applicants can apply using C-ASBA service.

Check the links below to ensure your Application Eligibility and Other Details:

Check HERE:

Panchakanya Mai IPO Allotment Concludes, Check Your Result Here !

IPO RESULTS:

The allotment of the Initial Public Offering (IPO) of Panchakanya Mai Hydropower Ltd. (PMHL) has successfully been concluded today Friday morning 27th July 2018 (11 Shrawan 2075) by Sunrise Capital Ltd., its issue manager. The allotment was held amidst a program organized at Sunrise Capital premises in Kamalpokhari, Kathmandu at 10:00 AM.

Out of the total 1,46,389 valid general applicants, exactly 1,00,100 (68.38%) were decided through lottery and each lucky one was allotted a mandatory 10 unit shares as per the SEBON directive while the remaining 46,289 (31.62%) were unfortunately left empty-handed.

Check the RESULTS HERE:

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.

Check the RESULTS HERE: