Himalayan Power IPO allotment concludes: All investors allotted minimum 10 units of shares as per new guideline
Wed, Jul 19, 2017 2:13 PM on Latest, IPO/FPO News, Featured, Stock Market,
Global IME Capital Limited, the issue manager for the IPO of Himalayan Power Partner Limited, has concluded the allotment of 21.30 lakh unit IPO shares today. The allotment was held today at Yellow Pagoda Hotel at 11 AM.
With the introduction of Securities Issue and Allotment Guidelines, 2074, Securities Board of Nepal (SEBON) has introduced several guidelines for IPO allotment. Under this guideline, a minimum of 10 units is reserved for each applicant.
Out of the total 1,63,737 applicants, 1,29,302 applicants got 10 units of shares. Furthermore, 5 applicants got 11 units of shares and 34,430 applicants got 20 units of shares through lottery.
Likewise, 149,159 units shares were allotted for 10 mutual funds and staffs of Himalayan Power Partner. There were 1,264 invalid applicants.
The excess money will be refunded on Shrawan 12, 2074 (next thursday) through IPS.
Himalayan Power Partner Limited had issued 21,30,834 unit shares worth Rs 21.30 crore as part of its Initial Public Offering (IPO) from Ashad 1, 2074 till Ashad 5, 2074. The issue was oversubscribed by 40.36 times till last day.
The authorized capital of company is Rs 2.70 arba. The paid up capital of the company remains at Rs 85.23 crore. After the IPO for the general public, the paid up will reach Rs 1.06 arba.
After this IPO, the promoter-people of affected area (Lamjung district) – public shareholding ratio of the company will be 70% to 10% to 20%.
Himalayan Power Partner Limited is developing a 27 MW Dordi ROR hydropower project along Dordi river in Lamjung district. The electricity generated from this project shall be connected to proposed Udipur Hub substation in Lamjung district; some 1.2 km away from the Dordi powerhouse. The company has planned commercial operation date by the end of Jestha 2075.
The excess money will be refunded on Shrawan 12, 2074 (next thursday) through IPS.
Himalayan Power Partner Limited had issued 21,30,834 unit shares worth Rs 21.30 crore as part of its Initial Public Offering (IPO) from Ashad 1, 2074 till Ashad 5, 2074. The issue was oversubscribed by 40.36 times till last day.
The authorized capital of company is Rs 2.70 arba. The paid up capital of the company remains at Rs 85.23 crore. After the IPO for the general public, the paid up will reach Rs 1.06 arba.
After this IPO, the promoter-people of affected area (Lamjung district) – public shareholding ratio of the company will be 70% to 10% to 20%.
Himalayan Power Partner Limited is developing a 27 MW Dordi ROR hydropower project along Dordi river in Lamjung district. The electricity generated from this project shall be connected to proposed Udipur Hub substation in Lamjung district; some 1.2 km away from the Dordi powerhouse. The company has planned commercial operation date by the end of Jestha 2075.
