Allotment of Aankhukhola Hydropower’s IPO concludes; 47,400 applicants allotted with 20 units each

Civil Capital Market Limited has concluded the allotment of IPO of Aankhukhola Jalvidhyut Company Limited.

The allotment has been made as per the released pre-allotment module.

The hydropower company had issued 13,76,020 unit shares which included 68,801 units issued to mutual fund and 12,79,699 units issued to general public. Applications have been received for 56,66,550 making the application to be over-subscribed by 4.43 times.

As per the pre-allotment module provided by Civil Capital, only 5 staffs had applied for the shares and 83,316 valid applicants had applied from the general public.

Out of the valid applicants 47,400 applicants have been allotted with 20 units while 35,916 applicants were allotted 10 units. The 5 staffs have been allotted with 59 units. The general public has also received 27,461 units from the unsubscribed staff share.

ICRA Nepal had assigned Grade 5 rating to the IPO which indicates poor fundamentals of the company.

The paid-up capital will reach Rs 80 crore with promoter shares standing at Rs 60 crore. The hydropower company is currently operating Ankhu Khola -1 Hydro electric project having installed capacity of 8.4 MW situated at Tripura Sundari Gaun Palika of Dhading District.