IPO Allotment of Sikles Hydropower Limited Concludes: 105,800 Applicants Celebrate; 1,406,737 Applicants Return Empty-Handed

The IPO allotment of Sikles Hydropower Limited (SLHL) is concluded today at the premises of BOK Capital Markets Limited, Narayanchaur, Kathmandu.

Sikles Hydropower Limited (SLHL) had issued 11,50,000 units worth Rs 11.50 crore as Initial Public Offering to the general public (Bhadra 29- Asoj 2, 2079). 

Out of the total 11,50,000 units; 3% of the total offered shares i.e. 34,500 units have been set aside for the employees of the company and 5% of the total offered shares i.e. 57,500 units have been set aside for the mutual funds. The remaining 10,58,000 units are for the general public.

The company intends to collect Rs 11.50 crore from this IPO. The paid-up capital of the company will reach Rs. 85 Crores after the IPO issuance.

The issue had received applications from 1,512,537 valid applicants who had applied for a total of 16,368,300 units. The issue was oversubscribed by more than 15.47 times. 

As per the allotment module, a total of 105,800 applicants were allotted 10 units each via lottery, and the remaining 1,406,737 applicants were returned with empty hands. 

A total of 34,500 units were allotted to employees and 57,500 units were allotted to mutual funds.

In total 1,251 applicants who applied for 19,350 units were disqualified due to duplicate applications.

Allotment Module:

The IPO result can be accessed by CDSC IPO Result, MeroShare, and BOK Capital Markets Limited. 

Sikles Hydropower Limited (SLHL) is a public limited company, incorporated in July 28, 2004 as a private limited company and later converted to a public limited company in May 17, 2019. The company is setting up a 13MW run-of-the-river Madkyu Khola Hydroelectric Project (MKHP) in the Kaski District of Nepal. The project came into commercial operation since April 2, 2018. The project is constructed under BOOT (Build, own, Operate, and Transfer) mechanism.

CARE Ratings Nepal Limited (CRNL) has assigned an Issuer rating of ‘CARE-NP BB+ (Is) [Double B Plus (Issuer Rating)]’ to Sikles Hydropower Limited (SLHL). Issuers with this rating is considered to have a moderate degree of safety regarding timely servicing of financial obligations, in Nepal.