Last day to apply for 3.90 lakh kitta IPO shares of Nepal Hydro; Better to apply 50 kitta

Nepal Hydro Developer Limited is closing 3,90,000 unit shares worth Rs 3.90 crore as part of its Initial Public Offering (IPO) for the general public today (Shrawan 32, 2074) at face value of Rs 100 per share. The IPO applications was open from Shrawan 27, 2074. The maximum closing date for the offer is Bhadra 25, 2074. Interested people must apply for a minimum of 50 units of share and they can apply for up to 1,000 units of share, but it is better to apply for 50 kitta only as allotment will be concluded through new module, that every application must be allotted with minimum 10 kitta shares, in case if sufficient to all. NMB Capital Limited has been assigned as the issue manager for the IPO issue. The hydropower company has set aside 2% or 7,800 unit shares for its employees and 5% or 19,500 unit shares for the 11 mutual fund companies. The company has set aside 3,62,700 units shares for the general public. Interested applicants can collect ASBA application forms from all ASBA-approved banks and their branches in Nepal. The issue has already collected more than Rs 35 crore from 38,241 applicants till second day. The authorized capital of company is Rs 60 crore. The paid up capital of the company remains at Rs 22.10 crore. After the IPO for the general public, the paid up will reach 26 crore. After this IPO, the promoter, people of affected area (Dolakha district) – public shareholding ratio of the company will be 75% to 10% to 15%. ICRA Nepal has assigned “[ICRANP] IPO Grade 4” grading to the upcoming Initial Public Offering (IPO) of Nepal Hydro developer, indicating below average fundamentals. Nepal Hydro Developer Limited has developed a 3.52 MW Charanwati Hydroelectric project in Dolakha district with an annual energy generation of 37.29 GW hr. It had earlier floated 2,60,000 units shares worth Rs 2.60 crore as part of its Initial Public Offering for the locals of Dolakha district on Mangsir 26, 2073.