August 9, 2022 | Investopaper
IPO Allotment Of Sayapatri Hydropower Limited
NIBL Ace Capital Limited, the issue manager for the initial public offering (IPO) of Sayapatri Hydropower Limited, has concluded the IPO allotment process on Tuesday.
After the allotment, 67,058 applicants have received 10 shares each. Among these lucky applicants, 6 have received one additional share. A total of 14,13,572 people had applied for the shares. Out of the total applicants, 1104 applications was disqualified. More than 13.45 lakh applicants were left empty-handed.
To view the IPO result of Sayapatri Hydropower Limited, click the link below:
IPO To General Public
After issuing the shares to locals of the project affected areas, Sayapatri Hydropower Limited had sold 7,21,060 shares in the second phase of the Initial Public Offering (IPO). This included 1,21,060 unsold shares to locals.
The IPO to general public was open from Shrawan 13, 2079 BS. Due to over-subscription of shares, the IPO was closed on Shrawan 17, 2079 BS.
Out of the total shares, 36,053 shares have been allotted to the mutual fund schemes while 14,421 shares have been reserved for the employees of the company. Hence, the general public could participate in the remaining 6,70,586 shares.
One could apply for a minimum of 10 shares and a maximum of 30,000 shares.
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IPO To Locals
In the first phase, the hydropower company had sold 3 lakh shares to the locals of the project-affected areas from Ashad 2, 2079 BS. The IPO to locals was closed on Ashad 24, 2079 BS. Out of the total shares, 1,21,060 shares remained under-subscribed.
Locals of Tarakhola Rural Municipality and Galkot Municipality could apply for the shares. Interested locals could apply for a minimum of 10 shares and a maximum of 30,000 shares.
Securities Board Of Nepal (SEBON) granted permission to the company on Jestha 18, 2079 BS regarding the issue of shares to the public. The company had submitted the application to the board on March 4, 2021 [Falgun 20, 2077 BS] for the IPO issuance.
In total (including locals and general public), the hydropower will float 9 lakh shares in the IPO.
NIBL Ace Capital Limited is the issue and sales manager for the IPO.
After the issue of IPO, the general public (along with locals) will possess 30 percent shares in the company. Likewise, the promoters will hold the remaining 70 percent ownership.
About Sayapatri Hydropower
Sayapatri Hydropower was established on July 30, 2007. It currently operates a 2.5 MW Daram Khola ‘A’ hydropower project. The project is a run-of-river project located at Baglung district. The project started commercial electricity generation from June 26, 2016. The company completed the construction of the project at the cost of Rs 57.77 crore i.e Rs 23.11 crore per MW.
Sayapatri Hydropower Limited has an authorized capital of Rs 50 crore and issued capital of Rs 30 crore.