June 22, 2022 | Investopaper
IPO Allotment Of Dordi Khola Jalbidhyut Company
Siddhartha Capital Limited, the issue manager for the initial public offering (IPO) of Dordi Khola Jalbidhyut Company Limited, has concluded the IPO allotment process on Wednesday.
After the allotment, 2,01,986 applicants have received 10 shares each. From these lucky applicants, 9 have been allotted one shares each making total allotted shares of 11.
A total of 14,71,665 people had applied for the shares. Out of the total applicants, 882 applications was disqualified. More than 12.69 lakh applicants were left empty-handed.
To view the IPO result of Dordi Khola Jalbidhyut Company Limited, click the link below:
IPO To General Public
After selling the shares to the locals of the project affected areas, Dordi Khola Jalbidhyut Company Limited had sold 21,95,509 shares to the general public. The IPO to the general public was open from Jestha 26, 2079 BS. Due to the full subscription of shares, the issue was closed on Jestha 31, 2079 BS.
Out of the total 21,95,509 shares, 65,865 shares were reserved for the employees of the company. Likewise, 109,775 shares were allotted to various mutual fund schemes. Hence, the general public participated in the remaining 20,19,869 shares.
One could apply for a minimum of 10 shares and a maximum of 17,00,000 shares.
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IPO To Locals
In the first phase of the IPO, the company sold 10,54,260 shares to the locals of the project affected areas. This is 10 percent of the total issued capital (Rs. 105.42 crores) of the company. The IPO to locals was open from Baisakh 13, 2079 BS. The issue was set to close on Baisakh 27, 2079 BS. However, due to under-subscription until that period, the public offering was closed on Jestha 5, 2079 BS.
The residents of Dordi Rural Municipality of Lamjung District can apply for the shares. Interested locals could apply for a minimum of 10 shares and a maximum of 10,00,000 shares.
Securities Board Of Nepal (SEBON) granted the permission to the company on Chaitra 28, 2078 BS for the issuance of shares. The company had submitted an application to the board on Baisakh 21, 2078 BS.
In total (including locals and general public), the company has plans to issue 2,951,929 shares at a par value of Rs 100. Hence, the total public issue amounts to Rs 29.51 crores.
Siddhartha Capital Limited is the issue and sales manager for the IPO.
After the public offering, the general public (along with locals) will possess 28 percent ownership in the company. Likewise, the promoters will hold 72 percent shares.
About Dordi Khola Jalbidhyut Company
Dordi Khola Jalbidhyut Company Limited was incorporated on Falgun 14, 2066 (February 26, 2010). It is currently developing 12 MW Dordi-1 Hydroelectric Project in Lamjung District. The project is located in Dordi rural municipality-6, Lamjung.
Lamjung Electricity Development Company Limited (LEDCO) has 84.95 percent ownership in the company.
As of Ashad’s end 2078 BS, Dordi Khola Jalbidyut Company has a capital of Rs 75.90 crores. After the issue of shares in the public offering, the capital will increase to Rs 105.41 crores.