Himalayan Power Partner Limited had issued 21,30,834 unit shares worth Rs 21.30 crore as part of its Initial Public Offering (IPO) from Ashad 1, 2074 till Ashad 5, 2074. The issue has been oversubscribed by 40.36 times till last day.
As per an official of Global IME Capital, the issue manager for the IPO, the issue has collected more than Rs 8 arba from around 1 lakh 60 thousand applications so far till last day.
The IPO collected Rs 3.32 arba from ASBA applications and Rs 1.07 arba from regular applications on the fourth day. Around 64,780 applicants applied from ASBA and 31,128 applicants applied for the IPO using regular application forms. The data are tentative and final data may vary, added the official.
As per the statements from both SEBON and Global IME Capital, new allotment guideline will be applicable if the allotment is done after Asadh 2074. If this applies, every applicant will be reserved a minimum of 10 units each.
Interested people were required to apply for a minimum of 50 units of share and they could apply for up to 10,000 units of share.
The hydropower company has set aside 42,617 unit shares for its employees and 5% or 1,06,542 unit shares for the 10 mutual fund companies. The company has set aside 19,81,675 units shares for the general public.
The authorized capital of company is Rs 2.70 arba. The paid up capital of the company remains at Rs 85.23 crore. After the IPO for the general public, the paid up will reach Rs 1.06 arba.
After this IPO, the promoter-people of affected area (Lamjung district) – public shareholding 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 Himalayan Power Partner Limited, indicating below average fundamentals.
Himalayan Power Partner Limited is developing a 27 MW Dordi ROR hydropower project along Dordi river in Lamjung district. The electricity generated from this project shall be connected to proposed Udipur Hub substation in Lamjung district; some 1.2 km away from the Dordi powerhouse. The company has planned commercial operation date by the end of Jestha 2075.
Source : ShareSansar