Taksar Pikhuwa Khola Hydropower IPO Allotment Concludes: Lucky 2,51,545 Applicants Allotted 10 Units Each via Lottery System

Taksar Pikhuwa Khola Hydropower Limited's IPO allotment was concluded today at the premises of the issue manager, Prabhu Capital Limited, Kathmandu.

The company had issued 25,15,455 units as an Initial Public Offering (IPO) to the general public from (23rd Baishakh, 2083 to 28th Baishakh, 2083).

The issued capital of the company is Rs. 1.20 arba. Of this, 35.26%, i.e., 42,30,668 unit shares, will be issued to the public. Out of the total issue capital, 10%, which amounts to 12,00,000 unit shares worth Rs. 12 Crores, were allotted to project-affected locals of Bhojpur district. The remaining 25.26% of the issued capital, i.e., 30,30,668 unit shares, were offered to the general public. Of this general public issue, 10%, a total of 3,03,067 unit shares, were allotted to Nepalese citizens working abroad.

Of the general public issue, 2%, i.e., 60,613 units, have been set aside for the company's employees, and 5% of the total offered shares, i.e., 1,51,533 units, have been reserved for mutual funds. The remaining 25,15,455 units are for the general public and allotment concluded today.

The issue received a total of 27,71,252 valid applications for 3,02,12,140 units. Meanwhile, 43,049 applications for 5,12,630 units were disqualified.

As per the allotment results, 2,51,545 applicants were allotted 10 units each through a lottery system, while 5 applicants received an additional 1 unit each, bringing their total allotment to 11 units per applicant.

Allotment Module:

The IPO result can be accessed by CDSC IPO Result, MeroShare, and Prabhu Capital Limited.

CARE Ratings Nepal Limited (CRNL) has reaffirmed the issuer rating of `CARE-NP BB+ (Is)’ assigned to Taksar Pikhuwa Khola Hydropower Limited (TPKH). Issuers with this rating are considered to offer a moderate risk of default regarding the timely servicing of financial obligations in Nepal.

Taksar Pikhuwa Khola Hydro Power Limited (TPKH) is a public company, incorporated on April 23, 2014, as a private company, which was converted into a public limited company on September 29, 2021. It is promoted by individual promoters from different backgrounds for setting up of an 8 MW run- of-river, Taksar Pikhuwa Khola Hydropower Project (TPKHP) in Bhojpur district of Nepal.