IPO Allotment Of Supermai Hydropower Concluded [IPO Result]

February 17, 2023 | Investopaper

IPO Allotment Of Supermai Hydropower Limited

Sanima Capital Limited, the issue manager for the initial public offering (IPO) of Supermai Hydropower Limited, has concluded the IPO allotment process on Friday.

After the allotment, 41,500 applicants have received 10 shares each. A total of 13,22,492 people had applied for the shares. Out of the total, 4,172 applicants were disqualified. More than 12.80 lakh applicants were left empty-handed after the allotment.

To view the IPO result of Supermai Hydropower Limited, click the link below:

IPO Result Of Supermai Hydropower Limited


Second Phase: IPO To General Public

After the first phase, Supermai Hydropower Limited had issued 4.50 lakh shares in the second phase of the Initial Public Offering (IPO). The IPO to general public was open from Magh 23, 2079 BS.

Out of the total shares, 25,000 shares are allotted to the mutual fund schemes. Likewise, 10,000 unit shares were reserved for the employees of the company. Hence, the general public could participate in the remaining 4,15,000 shares.

Due to over-subscription of shares, the public offering was closed on Magh 26, 2079 BS.

One could apply for a minimum of 10 shares and a maximum of 20,000 shares.


First Phase: IPO To Locals & Foreign-Employed Nepalese

In the first phase of the IPO, the company had sold shares to the locals of the project affected areas and to the Nepalese in Foreign Employment from Mangsir 21, 2079 BS.

The IPO to the Nepalese in foreign employment was closed on Poush 6, 2079 BS. The company had sold 50,000 shares to the foreign-employed Nepalese (10 percent from general public’s quota).

Similarly, the public issue to locals was closed on Poush 13, 2079 BS. The company had issue 500,000 shares to the locals of the project affected areas of Illam District that amounts to Rs. 5 crores.

The locals could apply for a minimum of 10 shares and a maximum of 20,000 shares.


In total, the company plans to sell 10,00,000 shares in the public offering [Including general public, locals of the project affected area and Nepalese in foreign employment]. At a par value of Rs 100, the public issue amounts to Rs 10 crores.

For the issuance of IPO, Securities Board Of Nepal (SEBON) granted the permission to the company on Mangsir 1, 2079 BS. The company had submitted the application to the board on Mangsir 20, 2078 BS seeking approval to sell the shares.

Sanima Capital Limited was the issue and sales manager. An agreement was reached between the hydropower company and Sanima Capital in this regard.

After the issue of IPO [if fully subscribed], the general public along with locals will possess 20 percent shares in the company while the promoters will hold 80 percent ownership.

The paid-up capital will reach Rs. 50 crores if the public issue is fully subscribed.


About Supermai Hydropower Limited

Supermai Hydropower Limited is currently operating a 7.8 MW Super Mai Hydropower Project. The project is a run-of-river type project located at Illam District. The project started commercial electricity generation in Karthik 11, 2075 BS.

The total cost of the project is Rs 1.48 Arba which translates into the per MW cost of Rs. 19.08 crores. The project is co-financed by Siddhartha Bank, Sanima Bank, Century Commercial Bank, and Jyoti Bikas Bank.


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2 thoughts on “IPO Allotment Of Supermai Hydropower Concluded [IPO Result]

  • February 12, 2023 at 9:14 am
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    my 1000 is not refunded after not alloted

    Reply
    • February 18, 2023 at 1:09 pm
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      mil jayega wapas chutiye, sabar rakh 😉

      Reply

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