Hathway Investment Nepal IPO Allotment To Be Concluded on Tuesday; 242,775 Applicants Will Get 20 Units Each

Mon, Sep 18, 2023 11:44 AM on IPO/FPO News, Share Allotment, Latest,

The IPO allotment of Hathway Investment Nepal Limited will take place this Tuesday, i.e. on 2nd Ashwin, 2080. The allotment program will be held at the premises of the issue manager Global IME Capital Limited, Kathmandu.

Out of total 29,25,000 units, 10% i.e. 292,500 unit shares were allocated for Nepalese citizens working abroad, whereas 2% i.e. 58,500 units were set aside for the employees of the company and 5% of the total offered shares i.e. 146,250 units were set aside for the mutual funds. The remaining 24,27,750 units were issued to the general public.

The issue will raise Rs. 14.625 crores for the company since each share was issued at a face value of Rs. 50 per share. The current paid-up capital of the company is Rs. 1.023 Arba which will reach Rs 1.17 Arba after IPO allotment.

According to CDSC, 10,10,034 applicants applied for a total of 24,192,840 units worth Rs. 1.21 Arba as of closing day. Thus, the issue was oversubscribed by 9.96 times so far.

Looking at the data, it is apparent that only 242,775 lucky applicants will get ownership of the company.

ICRA Nepal has assigned a long-term rating of [ICRANP] LBBB- (pronounced ICRA NP L triple B minus) to the long-term bank limits and reaffirmed the short-term rating of [ICRANP] A3 to the short-term bank limits of Hathway Investment Nepal Limited. ICRA Nepal has also reaffirmed the issuer rating of the company at [ICRANP-IR] BBB- (pronounced ICRA NP issuer rating triple B minus).