CEDB Hydropower Development Company Allotment Concludes (IPO Result)
May 14, 2021 | Investopaper
CEDB Hydropower has concluded the allotment of shares through lottery. As per the allotment module, 234,195 applicants have received 10 shares each. About 1,685,627 applicants had submitted the application for 24,645,735 shares. Out of the total applicants, 4,442 were disqualified.
To view the IPO Result, Click Here
| Issuing company | CEDB Hydropower Development Company Ltd |
| Issue Manager | Sunrise Capital Limited |
| Total Kitta Issued | 2,518,230 |
| Kitta Allocate to public | 2,341,954 |
| Kitta Allocate to Mutual Fund | 125,911 |
| Kitta Allocate to staffs | 50,365 |
| Applied Kitta | 24,707,107 |
| Over subscribed ( X times) | 10.52 |
| Verified applicants | 1,685,627 |
| Verified Kitta | 24,645,735 |
| Disqualified Applicants | 4,442 |
| Disqualified Kitta | 61,372 |
| Unverified applicants | 48322 |
| Unverified Kitta | 1637659 |
| Total allottee | 234,195 |
CEDB Hydropower IPO
CEDB Hydropower Development Company Limited floated the Initial Public Offering (IPO) from Baisakh 17, 2078 BS. Due to over-subscription of shares, the issue will close on Baisakh 21, 2078 BS.
Securities Board of Nepal (SEBON) had provided the final approval for the IPO issuance on Baisakh 2, 2078 BS.
The hydropower company sold 25,18,230 shares in the public offering. This is 30 percent of the total issued capital. At a par value of Rs 100, the public issue amounts to Rs 25.18 crores.
After the IPO, the total paid-up capital (if fully subscribed) will reach Rs 83.94 crores. The promoter will hold 70 percent or 58,75,870 shares after the IPO.
Out of the total public issue, 2 percent or 50,365 shares are reserved for the employees. Likewise, the mutual funds are allotted 5 percent or 125,911 shares. Hence, the general public can apply for the remaining 23,41,954 shares.
Sunrise Capital is the issue and sales manager for the IPO.
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About
CEDB Hydropower Development Company Limited was incorporated on Mangsir 15, 2066 BS (November 30, 2009). It was established by the then Clean Energy Development Bank (merged with NMB Bank) to provide equity investment for hydropower projects.
It has investments in three hydropower projects currently in operation- Radhi Small Hydropower Project (4.4 MW), Syange Hydropower Project (183 KW) and Khudi Hydropower Project (4 MW). Similarly, the company has invested in four projects under construction namely- Tallo Khare Khola Hydropower Project (11 MW), Dordi-1 Hydro Electric Project (12 MW), Rukum Gad Hydropower Project (5 MW), and Kasuwa Khola Hydropower Project (45 MW).
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