December 18, 2022 | Investopaper
IPO Allotment Of Barahi Hydropower Public Limited
NIBL Ace Capital Limited, the issue manager for the initial public offering (IPO) of Barahi Hydropower Public Limited, has concluded the IPO allotment process on Sunday.
After the allotment, 51,522 applicants have received 10 shares each. A total of 12,48,421 people had applied for the shares. Out of the total applicants, 65,927 applications were disqualified. More than 11.32 lakh applicants were left empty-handed.
To view the IPO result of Barahi Hydropower Public Limited, click the link below:
IPO To General Public
After issuing the shares to the locals, Barahi Hydropower Public Limited had sold 5,54,000 shares to the general public from Mangsir 21, 2079 BS. This included 1,04,000 shares that remained unsold during the first phase of the IPO.
Due to over-subscription of shares, the IPO to the general public was closed on Mangsir 26, 2079 BS.
Out of the total issue, 27,700 shares have been allotted to the mutual fund schemes. Likewise, 11,080 shares were reserved for the employees of the company. Hence, the general public could participate in the remaining 5,15,220 shares.
One could apply for a minimum of 10 shares and a maximum of 10,000 shares.
IPO To Locals
In the first phase of the IPO, the hydropower had issued 2,50,000 shares to the locals of the project affected areas.
The IPO to locals was open from Karthik 4, 2079 BS. The public offering was closed on Karthik 25, 2079 BS. Previously, the IPO was set to close on Karthik 18, 2079 BS. However, due to under-subscription until that period, the deadline for application was extended.
Locals of Jaimini Municipality of Baglung District could submit application for the purchase of shares. Interested locals could apply for a minimum of 10 shares and a maximum of 1,000 shares.
Out of the total shares floated to the locals, 1,46,000 shares were sold while 1,04,000 shares remained unsubscribed.
Securities Board Of Nepal (SEBON) provided the approval to the company on Ashwin 23, 2079 BS for the public issuance. Only after receiving the approval from SEBON, the company can float the shares to the public.
NIBL Ace Capital is the issue and sales manager for the IPO.
About Barahi Hydropower Public Limited
Barahi Hydropower Public Limited is currently operating Theule Khola Hydropower Project located at Jaimini Municipality of Baglung District. The project is a Run-off-River (ROR) Project with an installed capacity of 1.5 MW.
The project started commercial electricity production on Ashad 24, 2075 BS. It generates 8.217 GWh of electricity annually.
The per-megawatt cost of the project is Rs. 20.81 crores.