Lamjung based 5MW Ngadi Power IPO collected Rs 8.15 arba; oversubscribed by 90 times

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    Lamjung based Ngadi Power Group Limited had floated its Initial Public Offering (IPO) worth Rs 9.73 crore (9, 73,737 lakh units shares) from Chaitra 21, 2072 till Chaitra 25, 2072. The IPO has been oversubscribed by 89.99 times till last day.

    Mr.Badri Pyakurel , Merchant Banking head of NIBL Capital Markets Limited, “The total collection of the IPO is approximately Rs 8 arba 15 crore  till last day . Around 1 lakh 56 thousand application forms were received till date.”

    Below given the table of overall four days collection of the company

                                                  Ngadi Power IPO collection
    Days         Total Collection Oversubscribed Number of  Application Forms
    First day 75 crore 7.70 times 15,500
    Second day 1 arba 78 crore 19.66 times 37,500
    Third day 3 arba 59 crore 39.64 times 76,200
    Fourth day 8 arba 15 crore 89.99  times 1,56,000

    Interested people were required to apply minimum of 50 units of share and they can apply for up to 50,000 unit of share.

    The issue manager for the IPO is NIBL Capital Market Limited.

    The hydropower company has set aside 19,474 unit shares for its employees and 48,686 unit shares for the 6 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, and Siddhartha Investment Growth Scheme- 1. The company has set aside 9, 05,577 unit share to the general public.

    The hydropower company plans to raise Rs 9.73 crore through the offer. After the IPO, the paid up will reach Rs 48.68 crore from the current Rs 38.94 crore which includes 4.86 crore collected from the project-affected area Lamjung. The hydropower has authorized capital of Rs 66.70 crore.

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

    ICRA Nepal has assigned an “[ICRANP] IPO Grade 4+”, indicating below average fundamentals to the proposed initial public offering (IPO) of Ngadi Group.

    Source : ShareSansar