Arun Kabeli Power IPO update: Rs.1 arba 95 crore collected from around 14,000 applicants; oversubsuscribed by 13 times

25 MW Arun Kabeli Power Limited had issued 15,00,000 unit shares worth Rs 15 crore as part of its initial public offering (IPO) for the locals of project affected people of Taplejung and Panchthar district from Jestha 3, 2073 till Jestha 17, 2073. As per the official of Arun Kabeli Power, “The total collection of the IPO reached approximately Rs 2 arba (Oversubscribed by 13 times). Around 14 thousand application forms were received.” Siddhartha Capital Limited has been assigned as the issue manager for the IPO issue. Of the total 15, 00,000 unit shares, the hydropower company has set aside 6, 00,000 unit shares for the core project affected area of (Nagi, Amarpur and Tharpu VDC’s) of Panchthar district and (Sablakhu, Sinam, Thumbedin and Chaksibote VDC’s) of Taplejung district  and remaining 9, 00,000 unit shares for the rest of VDC’s of Taplejung and Panchthar district. The authorized capital of company is Rs 1 arba 50 crore. After the IPO for the locals of project affected area, the paid up will reach Rs 1 arba 20 crore. ICRA Nepal has assigned an “[ICRANP] IPO Grade 4+”, indicating below average fundamentals to the proposed initial public offering (IPO) of Arun Kabeli Power Company. After the IPO for the locals of project affected area, the company will be floating 30, 00,000 units shares i.e. 20% of the paid up capital as a part of IPO for the general public and staff of Arun Kabeli power company..