IPO of Ghalemdi Hydro to the locals subscribed by only 17.2%; Is hydro losing charm in Nepali capital market?

Thu, Aug 16, 2018 4:30 PM on IPO/FPO News, Latest, Stock Market,

Ghalemdi Hydro had issued 5,50,000 unit shares as Initial Public Offering(IPO) for the locals of the project affected area – Myagdi district, Annapurna Rural municipality from, Ashadh 22, 2075 till Shrawan 20, 2075.

Vibor Capital is the issue manager for the IPO issuance.

The allotment of the issued share has been completed on Shrawan 29, 2075. According to the officials at Vibor Capital, application were received for only 94,780 units. So the unsubscribed units i.e. 4,55,220 units will be added to the public IPO which will come out soon.

The shareholders holding the shares will not be able to exchange the shares in secondary market unless the expiry of 3 years’ time from allotment.

After the issuance to the locals, the company will be issuing 20% shares as IPO for the general public including employees. The paid up capital of the company will stand at Rs 55 crore after the issuance of IPO for the general public.

Ghalemdi Hydro Limited has been developing a 4 MW capacity project located at ward no 7, Narchyang VDC of Myagdi district.