IPO Allotment of Hathway Investment Nepal Concluded [IPO Result]
September 19, 2023 | Investopaper
IPO Allotment Of Hathway Investment Nepal Limited
Global IME Capital Limited, the issue manager for the initial public offering (IPO) of Hathway Investment Nepal Limited, has concluded the IPO allotment process on Tuesday.
After the allotment, 1,21,387 applicants have received 20 shares each. Likewise, 10 applicants received 1 additional share through lottery.
A total of 12,67,709 valid applicants had subscribed for the shares. With the allotment, more than 11.46 lakh applicants were left empty-handed.
To view the IPO result of Hathway Investment Nepal Limited, click the link below:
IPO Result Of Hathway Investment Nepal Limited
Second Phase: IPO To General Public
After the first phase, the company had floated 26,32,500 shares (at a price of Rs 50 per share) in the second phase of the Initial Public Offering (IPO). The second phase of the IPO was open from Bhadra 21, 2080 BS.
Due to over-subscription of shares, the public offering was closed on Bhadra 26, 2080 BS.
Interested investors could apply for a minimum of 20 shares and the maximum of 100,000 shares.
Out of the total shares, 1,46,250 shares were allotted to the mutual fund schemes. Likewise, 58,500 shares were the reserved for the employees of the company. Hence, the general public could participate in the remaining 24,27,750 shares.
First Phase: IPO To Foreign Employed Nepalis
In the first phase of the IPO, the company had sold shares to the Nepalis in Foreign Employment from Shrawan 4, 2080 BS. The company had floated 2,92,500 shares in the first phase (10 percent of the general’s public quota).
The IPO to foreign employed Nepalis was closed on Shrawan 18, 2080 BS.
Interested investors could apply for a minimum of 20 shares and the maximum of 100,000 shares.
In total (including first and second phase), the company has plans to issue 29,25,000 unit shares in the IPO at a price of Rs 50 per share. Hence, the total public issue amounts to Rs 14.62 crores.
For this purpose, Securities Board Of Nepal (SEBON) has given the permission to the company on Ashad 17, 2080 BS.
The company had submitted the application to the board on Chaitra 25, 2078 BS seeking permission to float the shares. Only after the approval from SEBON, the company can sell the shares to the general public.
Global IME Capital Limited is the issue and the sales manager for the IPO. An agreement has been reached between the company and Global IME Capital in this regard.
After the IPO (if fully subscribed), the general public will possess 12.5 percent shares in the company while the promoters will hold the remaining 87.5 percent shares.
Hathway Investment Nepal is an investment company founded in 2009.
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