Ghalemdi Hydropower’s IPO allotment concludes; 43,993 applicants receive 30 units while 10,699 applicants receive 20 units
Tue, Jan 15, 2019 12:15 PM on IPO/FPO News, Latest, Stock Market,
Vibor Capital Limited has concluded the allotment of Ghalemdi Hydropower Limited’s IPO. Out of the valid applicants 80.44% have received 30 units while only 19.56% have received 20 unit shares. The hydropower company had issued 15,33,770 units for the general public which includes 4,55,770 unsubscribed units from the issuance made to locals. The issue was made from Poush 19th to Poush 23rd, 2075.
None of the mutual fund had applied for this share. Whereas, 13 employees were allotted with 22,000 units or worth Rs 22 lakhs.
54,718 total applications were received for the issue out of which 26 applications were deemed invalid. The valid applicants had applied for 39,03,070 units.
All the applicants were allotted with 20 units and remaining 4,39,930 units were allotted via lottery. So, 10,699 applicants received 20 units while 43,993 applicants received 30 units of the IPO.
ICRA Nepal has assigned Grade 5 rating to the IPO indicating poor fundamentals.
The paid-up capital of the company will stand at Rs 55 crore after the issuance of IPO for the general public. Promoter and public shareholding structure of the company stands at 70 : 30 ratio.
Ghalemdi Hydro Limited has been developing a 4 MW capacity project located at ward no 7, Narchyang VDC of Myagdi district. The total expected cost of the project is Rs 1.15 arba while the per MW cost is Rs 23 crore.
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