25 MW Arun Kabeli Power Limited (AKPL) has been issuing 30,00,000 unit shares worth Rs 30 crore as part of its Initial Public Offering (IPO) from today (Kartik 9, 2073) at face value of Rs 100. Today is the third day of the IPO. The IPO is oversubscribed by more than 9.52 times till second day .
As per the official of Siddhartha Capital Limited “The total collection of the IPO is approximately Rs 2 arba 63 crore till second day. Around 41,000 application forms were received.”
The offer will close tomorrow (Kartik 12, 2073). The maximum closing date for the offer is on Kartik 23, 2073.
Interested people must apply for a minimum of 50 units of share and they can apply for up to 15,000 unit of share.
Siddhartha Capital Limited has been assigned as the issue manager for the IPO issue.
The hydropower company has set aside 3% or 90,000 unit shares for its employees and 5% or 150,000 unit shares for the 7 mutual fund companies. The mutual fund schemes are Nabil balance fund-1, NMB Sulav Investment Fund – 1, NIBL Sambriddhi Fund – 1, Laxmi Value Fund -1, Siddhartha Equity Oriented Scheme, Siddhartha Investment Growth Scheme- 1 and Global IME samriddhi Fund-1. The company has set aside 27,60, 000 unit share to the general public.
After the IPO, the paid up capital will reach Rs 1.50 arba from the current Rs 1.20 arba which includes 1.05 arba promoter and 15 crore collected from the project-affected area. The hydropower has authorized capital of Rs 1.50 arba.
After the IPO, the promoter-people of affected area (Taplejung and Panchthar district) – public ratio of the company will be 70% to 10% to 20%.
Arun Kabeli had issued 15, 00,000 unit shares worth Rs 15 crore as part of its IPO at face value of Rs 100 for the locals of project affected people of Taplejung and Panchthar district on Jestha 3, 2073 till Jestha 17, 2073.