IPO allotment of Singati Hydro Energy Limited concludes; lucky 2,69,700 investors get 10 units each; know Fastest Way to Check IPO Result

Fri, Apr 9, 2021 10:35 AM on IPO/FPO News, Stock Market, Latest,

The IPO allotment of Singati Hydro Energy Limited is concluded today i.e. 2077/12/27 in the premises of issue manager Mega Capital Markets Limited at 12:30 A.M. 

The company opened its IPO to the general public from 6th Chaitra. The issue closed on 10th Chaitra, 2077, at the end of banking hours. The company has a total of 1.45 crore registered shares of which 29 lakh shares were issued in this IPO. Thus, the IPO will raise a total of Rs. 29 crores in paid-up capital.

Out of the offered 29,00,000 units; 2% of the issue, i.e. 58,000 units were set aside for the employees of the company and another 5% to mutual funds i.e 1,45,000 units. The remaining 26,97,000 units were purely for individual investors.

The issue had received applications from 15,59,802 valid applicants who had applied for a total of 2,27,68,260 units. The issue was oversubscribed by more than 8.47 times. 

As per the allotment module, a total of 2,69,700 applicants were allotted 10 units each via lottery, and the remaining 12,90,102 applicants were returned empty hands. 

A total of 58,000 units were allotted to the staff of the company and 1,45,000 units allotted to mutual funds.

5,728 applicants who applied for 81,410 units were disqualified as per the issue manager.

The company manager thanked all applicants for putting their vote of confidence on the hydropower company. The IPO issue attracted the second-highest number of applicants as of the issue date.

The IPO result can be accessed by iporesult.cdsc.com.np , Mega Capital Markets, MeroShare, and Singati Hydro Energy Limited.

Allotment Module:

 

The company is issuing 43,50,000 units IPO shares, out of which 14,50,000 units share is already offered to locals of project affect areas in the first phase and the remaining shares are now offered to the general public in the second phase.

After the issuance of shares to locals and general public company capital will be Rs 1.5 arba and public and promoter shares holding will be 70:30.

CARE Ratings Nepal Limited (CRNL) has assigned ‘CARE-NP BB- (Is)’ rating to SHEL.

SHEL was initially incorporated as a private limited company named Singati Hydro Energy Private Limited on May 19, 2010. Later on, it converted to a public limited company named Singati Hydro October 2020 5 Energy Limited on June 20, 2018. It is promoted by various institutional and individual promoters from different backgrounds for setting up of a 25 MW run-of-river, Singati Khola Hydropower Project (SKHP) in the Dolakha district of Nepal. The project is one of the ‘super six’ hydropower projects in Nepal. This project is constructed under BOOT (Build, Own, Operate, and Transfer) mechanism. RC Hydro Investment Private Limited (8.44%), Mr. Batu Lamichhane (8.24%), Mr. Ganesh Karki (6.27%) are the major shareholder of the company.