Chhyangdi Hydropower IPO collects Rs 81.84 crore from 16,621 applicants till second day; issue closes tomorrow


    Chhyangdi Hydropower Limited has been issuing 5,40,000 unit shares worth Rs 5.40 crore as part of its Initial Public Offering (IPO) for the general public from Jestha 14, 2074 at face value of Rs 100. Today is the third day of the IPO

    As per the official of Global IME Capital, the issue manager for the IPO, “the issue has collected around Rs 81.84 crore (Oversubscribed by 16.29 times) till second day from both regular and ASBA applications. Around 16,621 application forms were received.”

    “The IPO has collected Rs17.98 crore from regular applications and Rs 41.97 crore from ASBA collections on the third day. 7,610 applicants submitted the application via ASBA forms and 4,929 applicants submitted via regular application forms.”

    The IPO applications will close tomorrow (Jestha 18, 2074). The maximum closing date for the offer is Jestha 28, 2074. Interested people must apply for a minimum of 50 units of share and they can apply for up to 2,700 unit of share.

    The hydropower company has set aside 10,800 unit shares for its employees and 5% or 27,000 unit shares for the 10 mutual fund companies. The mutual fund schemes are Nabil Balanced Fund-1, Nabil Equity Fund, NMB Sulav Investment Fund – 1, NMB Hybrid Fund L-1, NIBL Sambriddhi Fund – 1, NIBL Pragati Fund , Laxmi Value Fund -1, Siddhartha Equity Oriented Scheme, Siddhartha Investment Growth Scheme- 1 and Global IME Sammunat Scheme. The company has allocated 5,02,200 unit shares to general public.

    The authorized capital of company is Rs 50 crore.  The paid up capital of the company remains at Rs 21.60 crore. After the IPO for the general public , the paid up will reach Rs 27 crore.

    Recently, Chhyangdi Hydopower had issued 2, 70,000 unit IPO shares worth Rs 2.70 crore for the locals of project affected people of Lamjung district.

    After the IPO, the promoter-people of affected area (Lamjung  district) – public ratio of the company will be 70% to 10% to 20%.

    ICRA Nepal has assigned “[ICRANP] IPO Grade 4” grading to the upcoming Initial Public Offering (IPO) of Chhyangdi Hydropower Limited, indicating below average fundamentals.

    Chhyangdi was established on September 2, 2007 as a private limited company. The company is developing Channdi Khola Hydropower project (2 MW) in Lamjung district, Nepal.

    Source : ShareSansar