Chhyangdi Hydropower IPO allotment concludes; up to 710 units decided through lottery, others allotted 1.25% on pro rata basis

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    Chhyangdi Hydropower Company Limited has allotted its 5,40,000 units IPO shares today (Asadh 17, 2074) at Amrapali Banquet, Bhatbhateni at 9:00 AM.

    Allotment for investors who had applied up to 710 units (Rs 71,000) was decided through lottery, and were allotted 10 units on lottery basis. Other investors who had applied more than 710 units were allotted 1.25% on pro-rata basis.

    The issue had collected around Rs 3.77 arba (Oversubscribed by 74.13 times) till last day from both regular and ASBA applications. Applicants were required to apply for a minimum of 50 units shares (Rs 5,000) and they could apply for a maximum of 2,700 units (Rs 2,70,000).Those investors who had applied for 2700 units shares got 34 units.

    Out of the total 91,697 valid applicants, only 32,824 got the shares.

    The shares set aside for retail investors was oversubscribed by 70.26 times and those set aside for other category was oversubscribed by 78.29 times.

    There were 688 invalid applicants. Altogether, 16 staffs were allotted 10,800 unit shares and mutual fund companies were allotted 27,000 units shares.

    Individual lottery results can be checked at ShareSansar’s IPO Result section later today.

    Chhyangdi Hydropower Limited had issued 5,40,000 unit shares worth Rs 5.40 crore as part of its Initial Public Offering (IPO) to the general public from Jestha 14 to Jestha 18, 2074. The authorized capital of company is Rs 50 crore. After this IPO, its paid up capital has reached Rs 27 crore.

    After the IPO, the promoter-people of affected area (Lamjung district) – public shareholding structure of the company has been restructured to 70% to 10% to 20%. Chhyangdi was established on September 2, 2007 as a private limited company. The company has been operating Channdi Khola Hydropower project (2 MW) and is constructing Upper Chhandi Khola Hydropower Project (4 MW) in Lamjung district.

     

    Source : Share Sansar