IPO Allotment of Trade Tower Limited To Be Concluded on Sunday; Lucky 3,29,650 Applicants Will Get 10 Units Each

The IPO allotment of Trade Tower Limited will take place this Sunday, i.e., on 1st Ashadh, 2082. The allotment program will be held at the premises of the issue manager, LS Capital Limited, New Baneshwor, Kathmandu.

Out of the total 3,97,16,930 units, 10%, i.e., 3,97,169.30 units, had already been issued to Nepalese citizens working abroad, while 2%, i.e., 79,433.86 units, had been set aside for the employees of the company, and 5% of the total offered shares, i.e., 1,98,584.65 units, had been allocated to mutual funds. The remaining 32,96,505.19 units were issued to the general public.

According to CDSC, 21,71,154 applicants have applied as of the closing day.

Looking at the data, it is apparent that only 3,29,650 lucky applicants will get ownership of the company.

ICRA Nepal has reaffirmed a [ICRANP-IR] BB-issuer rating for Trade Tower Limited (TTL), indicating a moderate risk of default in meeting financial obligations. The rating reflects overall creditworthiness and is not tied to any specific debt instrument.

Trade Tower Limited (TTL), established in 2007 and based in Thapathali, Kathmandu, is a public limited company engaged in leasing, financing, and infrastructure development. Its first project, Trade Tower Thapathali, has been operational since April 2011. TTL recently launched Hotel Crystal Pashupati, a three-star hotel in Gaushala, which began partial operations in mid-April 2024 with 49 out of 90 rooms and two conference halls. As of mid-October 2024, TTL is fully owned by over 350 promoters but plans to issue an IPO, reducing promoter holding to around 51%. Mr. Shiva Hari Dangal is the company’s major shareholder and chairman.