Sikles Hydropower IPO Allotment to be Concluded on Tuesday at 9 AM; 1,05,800 Lucky Applicants will Get 10 units Each

Sun, Sep 25, 2022 5:57 PM on Latest, IPO/FPO News, Share Allotment,

BOK Capital Markets Limited is going to allot IPO of Sikles Hydropower Limited (SLHL) on Tuesday i.e Ashwin 11 at 9 AM. The IPO allotment will take place at the premises of BOK Capital Markets Limited, Narayanchaur, Kathmandu.

The company opened its IPO issue of 11,50,000 units shares worth Rs. 11.50 crores to the general public from Bhadra 29 till Ashwin 02, 2079.

Out of the total 11,50,000 units; 3% of the total offered shares i.e. 34,500 units were set aside for the employees of the company and 5% of the total offered shares i.e. 57,500 units were set aside for the mutual funds. The remaining 10,58,000 units were for the general public. The company intends to collect Rs 11.50 crore from this IPO. The paid up capital of the company will reach to Rs. 85 Crores after the IPO issuance.

According to CDSC, 15,38,383 applicants have applied for a total of 1,72,44,380 units worth Rs. 1.72 Arba till last day. Thus, the IPO was oversubscribed by more than 16.29 times in terms of number of units through ordinary applicants as of closing day.

Sikles Hydropower Limited (SLHL) is a public limited company, incorporated in July 28, 2004 as a private limited company and later converted to public limited company in May 17, 2019. The company is setting up 13MW run-of-the-river Madkyu Khola Hydroelectric Project (MKHP) at Kaski District of Nepal. The project came into a commercial operation since April 2, 2018. The project is constructed under BOOT (Build, own, Operate and Transfer) mechanism.