Nyadi Hydropower Limited has concluded the allotment program for the locals IPO issue yesterday, i.e. Ashoj 06, 2078.
The company had opened the 15,00,000 unit IPO shares issue to the project-affected locals of Lamjung District on Bhadra 1, 2078. Global IME Capital Limited was appointed as the issue manager and NMB Capital Limited as the co-issue manager for the IPO issuance. The allotment program was conducted at the premises of the issue manager in Naxal, Kathmandu, starting at 5: 30 pm.
The IPO issue was oversubscribed 4.69 times by the locals of the project-affected area and 5.47 times by the other residents of the Lamjung district. 3,857 valid applications were received from the project affected area for 23,46,760 units. Similarly, 27,799 valid applications were received from other locals of the Lamjung district for a total of 54,63,140 units. Meanwhile, 211 employees applied for 3,00,000 units.
After the IPO is issued in two phases, first to locals and employees of the promoter institutions and then to the general public, the promoter: public shareholding ratio of the company will be 73:27, and paid-up capital will be Rs 1.5 Arba.
Nyadi Hydropower Limited is a public company, incorporated on March 1, 2007. It is promoted by Butwal Power Company Limited (BPCL) and Lamjung Electricity Development Company Ltd. (LEDCO) for setting up a 30 MW run-of-river, Nyadi Hydropower Project (NHP) in Marshyangdi Municipality, Lamjung district of Nepal.