Sayapatri Hydropower Limited (SPHL) had issued 721,060 units shares worth Rs. 7.21 crores to the general public as a part of their Initial Public Offering (IPO) from Shrawan 13 till 17th Shrawan, 2079.
Out of the total 721,060 units; 2% of the total offered shares i.e. 14,421 units have been set aside for the employees of the company and 5% of the total offered shares i.e. 36,053 units have been set aside for the mutual funds. The remaining 670,586 units were for the general public. The paid-up capital of the company will reach Rs. 30 Crores after the IPO issuance.
According to issue manager, 15,57,702 applicants have applied for a total of 1,76,77,610 units worth Rs. 1.76 Arba till last day. Thus, the IPO was oversubscribed by more than 26.36 times in terms of number of units through ordinary applicants as of closing day.
NIBL Ace Capital was appointed as the issue manager for the IPO issuance. Applications could be placed for a minimum of 10 units and a maximum of 30,000 units.
Sayapatri Hydropower Limited is public limited company, incorporated on July 30, 2007, promoted by institutional as well as individual promoters from different background. It is currently operating 2.5 MW Daram Khola ‘A’ hydro power project in run –of –river scheme located at Baglung district, Nepal. The project is constructed under BOOT (Build, own, Operate and Transfer) mechanism. The commercial production and sale of power started from June 26, 2016.