IPO Allotment: Vision Lumbini Urja Allotted Shares to Locals, 25.52% of Shares Were Unsubscribed

On 1st Kartik, Wednesday, the IPO of Vision Lumbini Urja Company Limited has allotted to project-affected locals of Kaski District. The IPO of the company was distributed at the office of Muktinath Capital Limited, the issue manager of the company's IPO issuance.

The issued capital of the company is Rs. 1.91 Arba of which 10% i.e. 19,12,500 unit shares worth Rs. 19.12 Crores were assigned to project-affected locals of Kaski District. Meanwhile, 10% of the company's issued capital i.e. 19,12,500 unit shares will be issued later to the general public. Of this public issue, 10% of the shares totaling 1,91,250 units were allocated for Nepalese citizens working abroad, the issue of which concluded on 15th Ashwin, 2080.

As per the notice published today, the company hereby informs that almost 14,24,590 units or 74.48% of the total issue have been allocated to the valid applicants. Thus, the remaining 4,87,910 units will be soon issued to the general public along with 19,12,500 units, which represent 10% of the issued capital of the company.

ICRA Nepal has reaffirmed the long-term rating of [ICRANP] LBB- (pronounced ICRA NP L double B minus) to Vision Lumbini Urja Company Limited’s long-term loan limits and also reaffirmed the short-term rating of [ICRANP] A4 (pronounced ICRA NP A four) to its short-term loan limits.

Vision Lumbini Urja Company Limited is developing a 25-MW Seti Nadi Hydroelectric Project in the Machhapuchchhre rural municipality of Kaski District, Gandaki Province of Nepal. The project is a run-of-the-river (R-o-R) type and is being developed at a 44.5% probability of exceedance.