Flood of IPOs; hydropower companies shares worth more than 16.25 arba within 2 yrs
Tue, Mar 10, 2015 12:00 AM on IPO/FPO News, Others,
ShareSansar, March 10:
Initial Public Offerings of a string of public limited companies are in the pipeline with combined total of the offers amounting to as high as Rs 16 arba, 25 crore and 4 lakhs. As per a report published in Nagarik Daily, some companies have already taken permission from SEBON to go public within two years, while others are preparing for it.
Of the companies that are gearing up to issue IPO, most are hydropower companies.
Four hydropower companies, led by Chilime Hydropower, alone are issuing Rs 8 arba 98 crore 54 lakh worth of shares. Chilime’s sister companies Sanjen Jalavidhyut will float shares worth Rs 1 arba 77 crore 38 lakh, Rasuwagadhi Rs 3 arba 35 crore 16 lakh and Madhya Bhotekoshi Rs 3 arba 86 crore as part of their initial public offering. While, Sanjen will be issuing share within one year and the other two companies will be issuing shares within two year.
|
Company |
Common investors in Rs |
Project-affected locals |
Depositors of EPF in Rs |
Employees of EPF in Rs |
Employees of Promoters in Rs |
|
42.5 MW Sanjen (Rs 3 arba 62 crore) |
54 crore 30 lakhs (15%) |
36 crore 20 lakhs (10%) |
Rs 70 crore 59 lakhs (19.5%). |
3 crore 62 lakhs (1 %) |
12 crore 67 lakhs (3.5%) |
|
111 MW Rasuwagadhi (Rs 6 arba 84 crore) |
1 arba 2 crore 60 lakhs (15%) |
68 crore 40 lakhs (10%) |
1 arba 33 crore 38 lakh and 59 thousand (19.5%) |
6 crore 84 lakhs |
21 crore 49 lakhs (3.5%) |
|
103 MW Madhya Bhotekoshi (Rs 6 arba 14 crore) |
92 crore 10 lakh |
61 crore 40 lakhs (10%) |
1 arba 11 crore and 73 lakhs (19.5%) |
Rs 6 crore 14 lakh |
21 crore 49 lakhs (3.5%) |
Meanwhile, Upper Tamakoshi has already begun the process for its IPO of Rs 1 arba 58 crore. Likewise, the 456-megawatt Upper Tamakoshi Hydropower Company has allocated 10.59 million units of shares to the locals of Dolakha, 18,299,520 units to the depositors of the EPF (as of July 30, 2010) and 3,049,920 units to the staff of lending institutions and 4,066,560 units to the staffs of UTHPL and its largest promoter NEA. Upper Tamkoshi is floating shares worth Rs 3 arba 60 crore and 6 lakhs in the first phase and it will be floating 1 arba 58 crore in the second phase.
Likewise, the government owned HIDCL will be issuing IPO of worth Rs 2 arba. Citizen Investment Trust will be the issue manager for this IPO. HIDCL’s present paid up capital is Rs 8 arba which after the issuance of IPO will reach 10 arba. After the IPO, government stake in the HIDCL will be 80% and the public stake 20%.
Similarly, the government owned Rastra Banijya Bank is also in preparations to sell off its 30% stake (approximately Rs 2 arba 70 crore worth of shares) through its Initial Public Offering.
