August 3, 2022 | Investopaper
IPO Allotment Of Swetganga Hydropower and Construction Limited
Sanima Capital Limited, the issue manager for the initial public offering (IPO) of Swetganga Hydropower and Construction Limited, has concluded the IPO allotment process on Wednesday.
After the allotment, 2,27,200 applicants have received 10 shares each. Among these lucky applicants, 5 have received one additional share. A total of 15,43,945 people had applied for the shares. Out of the total applicants, 4,440 applications was disqualified. More than 13.16 lakh applicants were left empty-handed.
To view the IPO result of Swetganga Hydropower and Construction Limited, click the link below:
IPO To General Public
After floating the shares to the locals, Swetganga Hydropower and Construction Limited had sold 23,89,500 shares to the general public in the second phase of the initial public offering (IPO). This is 15 percent of the total issued capital.
The IPO to general public was open from Shrawan 4, 2079 BS. Due to the over-subscription of shares, the public offering was closed on Shrawan 8, 2079 BS.
Out of the total public issue, 5 percent or 1,19,475 shares are allotted to the mutual fund schemes. Therefore, the general public could participate in the remaining 22,70,025 shares.
One could apply for a minimum of 10 shares and a maximum of 10,000 shares.
IPO To Locals
In the first phase of the IPO, the company sold 15,93,000 shares to the locals of the project-affected areas from Jestha 23, 2079 BS. Due to full subscription of shares, the issue was closed on Ashad 6, 2079 BS.
Interested locals of project affected areas of Ramechhap and Okhaldunga districts could apply for the shares. One could submit the application for the purchase of a minimum of 10 shares and maximum of 10,000 shares.
Securities Board Of Nepal (SEBON) granted the permission to the company on Jestha 11, 2079 BS for the public issuance. The company had submitted the application to the board on Karthik 10, 2078 BS.
In total (including locals and general public), the hydropower will issue 39,82,500 shares in the Initial Public Offering. At a par value of Rs 100 per share, the IPO amounts to Rs 39.82 crores.
Sanima Capital Limited is the issue and sales manager for the public offering.
At present, Swetganga Hydropower and Construction has a paid-up capital of Rs. 119.47 crores. After the IPO, the capital will increase to Rs. 159.30 crores (if fully subscribed).
The general public (along with locals) will possess 25 percent shares in the company while the promoters will have 75 percent ownership after the issue of IPO.
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About Swetganga Hydropower and Construction Limited
Swetganga Hydropower and Construction Limited was registered on Falgun 17, 2061 (February 28, 2005). It is a sister organization of Sanima Hydro Group. The company is currently developing a Tallo Likhu Jalvidhyut Aayojana at Ramechhap and Okhaldhunga District. The project is a Run-of-River type Hydropower project with an installed capacity of 28.1 MW.
The major promoters of the company include:
1. Sanima Hydropower Limited
2. Sanima Hydro And Engineering Pvt. Ltd
3. Sanima Mai Hydropower Limited
4. Dolma Impact Fund I
5. NRN Infrastructure And Development Ltd
6. Sanima Bank Limited
7. Jaya Ganesh Investments Pvt. Ltd
8. Obsor Investment Company Limited
9. Shanti Niraula