June 17, 2022 | Investopaper
IPO Allotment Of Bindhyabasini Hydropower Limited
Sanima Capital Limited, the issue manager for the initial public offering (IPO) of Bindhyabasini Hydropower Development Co. Limited, has concluded the IPO allotment process on Friday [Ashad 3, 2079 BS].
In the IPO, a total of 18,45,067 applicants have applied for the purchase of 219,35,010 shares.
After the conclusion of IPO allotment process, you can view the IPO result of Bindhyabasini Hydropower Development Co. Ltd by clicking the link below:
IPO To General Public
After issuing the shares to the locals, Bindhyabasini Hydropower Development Co. Ltd sold 15,00,000 shares to the general public. The IPO to general public was open from Jestha 20, 2079 BS. Due to full subscription of shares, the issue was closed on Jestha 25, 2079 BS.
Out of the total 15 lakh shares, 4 percent of 60,000 shares were reserved for the employees of the company. Likewise, 5 percent or 75,000 shares were allotted to the mutual fund schemes. Hence, the general public could participate in the remaining 13,65,000 shares.
One could apply for a minimum of 10 shares and a maximum of 1,00,000 shares.
Along with locals, the hydropower company has sold 25 lakh units share in the IPO. Through the issue of shares, the company is trying to accumulate additional capital of Rs. 25 crores.
IPO To Locals
In the first phase of the IPO, Bindhyabasini Hydropower had sold 10,00,000 shares to the locals of the project affected areas. The IPO to locals was open from Baisakh 11, 2079 BS. Due to full subscription of shares, the public offering was closed on Baisakh 27, 2079 BS.
Interested locals of Ward Number 5, 6 & 7 of Kwhlosothar Rural Municipality of Lamjung District and Ward Number 8 & 9 of Madi Rural Municipality of Kaski District participated for 7,00,000 shares. Likewise, all other wards of Kwhlosothar Rural Municipality of Lamjung District and Madi Rural Municipality of Kaski District applied for the remaining 3,00,000 shares.
The local could apply for a minimum of 10 shares and a maximum of 1,00,000 shares at a par value of Rs. 100.
The company received the approval from the Securities Board of Nepal (SEBON) for the issuance of IPO on Chaitra 25, 2078 BS.
Sanima Capital Limited is the issue and sales manager for the IPO.
After the public offering, the general public (along with locals) will possess 25 percent ownership in the company. Likewise, the promoters will hold 75 percent shares.
About Bindhyabasini Hydropower Development Company
Bindhyabasini Hydropower Development Company was established on Poush 3, 2057. The hydropower company is currently developing two projects with a capacity of 15.4 MW. The two projects include:
Rudi Khola- A Small Hydropower Project (8.8 MW)
Rudi Khola- B Small Hydropower Project (6.6 MW)
As of Ashad’s end 2078 BS, Bindhyabasini Hydropower Company has a capital of Rs 75 crores. After the issue of shares in the public offering, the capital will increase to Rs 100 crores.
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