The IPO allotment of Vision Lumbini Urja Company Limited is concluded today at the premises of the issue manager Muktinath Capital Limited, Kathmandu.
Vision Lumbini Urja Company Limited issued 20,75,285 unit IPO shares at par value of Rs 100 to the general public from 16th to 20th Kartik, 2080.
Earlier, the company had issued 19,12,500 unit shares to the project-affected locals of Kaski District out of which only 14,24,590 units were allotted to valid applicants. Thus, the remaining 4,87,910 units of unsubscribed shares of project-affected locals are added to 19,12,500 units to make a total of 24,00,410 units for the general public.
Out of the total 24,00,410 units; 191,250 units have already been issued and allotted to Nepalese citizens working abroad, and 95,625 units are allotted for mutual funds while 38,250 units have been set aside for the employees of the company. The remaining 20,75,285 units are for the general public.
The issue had received applications from 11,55,927 valid applicants who had applied for a total of 1,23,97,480 units. The issue was oversubscribed by more than 5.97 times.
As per the allotment module, a total of 2,07,528 applicants were allotted 10 units each via lottery and lucky 5 applicants got 1 unit each and the remaining 9,48,399 applicants were returned with empty hands.
A total of 95,625 units were allotted to the mutual funds and 38,250 units were allotted to the employees of the company.
In total 4,602 applicants who applied for 64,480 units were disqualified.
The IPO result can be accessed by CDSC IPO Result, MeroShare, and Muktinath Capital Limited.
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.