IPO Allotment Of Upper Syange Hydropower Concluded [IPO Result]

July 7, 2023 | Investopaper

IPO Allotment Of Upper Syange Hydropower Limited

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

After the allotment, 53,950 applicants have received 10 shares each. Out of these, 7 have received an additional share through lottery.

A total of 12,00,4766 applicants had subscribed for the shares. With the allotment, more than 11.45 lakh applicants were left empty-handed.

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

IPO Result Of Upper Syange Hydropower Limited

Second Phase: IPO To General Public

After issuing shares to the locals and foreign employed Nepalese in the first phase, Upper Syange Hydropower Limited had sold shares to the general public in the second phase of the Initial Public Offering (IPO). The IPO to general public was open from Ashad 10, 2080 BS.

The company had floated 585,000 shares in the second phase of the IPO. Out of the total shares, 32,500 shares are allotted to the mutual fund schemes while 13,000 shares are reserved for the employees of the company. Hence, the general public could participate in the remaining 5,39,500 shares.

Due to oversubscription of shares, the public offering was closed on Ashad 13, 2080 BS.

One could apply for a minimum of 10 shares and a maximum of 100,000 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 Jestha 1, 2080 BS.

The IPO to the foreign-employed Nepalese was closed on Jestha 16, 2080 BS.

Similarly, the IPO to locals was closed on Jestha 19, 2080 BS. If fully subscribed, the IPO to locals was set to close on Jestha 16, 2080 BS. However, due to under-subscription until that period, the deadline for application was extended.

The company had issued 10 percent of the issued capital i.e. 2,20,000 shares to the locals of Marshyandi Rural Municipality of Lamjung District.

Likewise, the company had sold 65,000 shares to the Nepalese in foreign employment (10 percent from general public’s quota).

The locals could apply for a minimum of 10 shares and a maximum of 100,000 shares. The foreign-employed Nepalese could subscribe for a minimum of 10 shares and a maximum of 50,000 shares.

In total (including first and second phase), the company will sell 870,000 shares in the IPO at a face value of Rs 100. Hence, the public issue amounts to Rs 8.70 crores.

Securities Board Of Nepal (SEBON) had given the permission to the company on Baisakh 13, 2080 BS.

The company had submitted the application to the board on Ashad 31, 2079 BS for the public issuance. Only after the approval from the regulatory body, the company can sell the shares to the public.

Siddhartha Capital Limited is the issue and sales manager. Likewise, it has appointed Prabhu Capital Limited as the underwriter for shares.

You May Be Interested In:

How to apply IPO/FPO/Right Share through Mero Share?

Upcoming Initial Public Offerings (IPO) In Nepal

After the IPO (if fully subscribed), the general public along with locals will own 39.55 percent shares in the company while the promoters will hold the remaining 60.45 percent shares.

About Upper Syange Hydropower Limited

Upper Syange Hydropower is constructing Upper Syange Khola Small Hydropower Project in Marsyangdi Rural Municipality, Syangenadi of Lamjung district. The project is a run of the river project with an installed capacity of 2.40 MW.

The project will generate 14.61 GWh electricity annually, including 11.74 GWh in wet season and 2.86 GWh in dry season.

The estimated cost of the project is Rs 46.10 crores which means the per MW cost is Rs 19.21 crores.

The company has signed the Power Purchase Agreement (PPA) with Nepal Electricity Authority on October 1, 2001 (Ashwin 14, 2072 BS). Likewise, the hydropower has also completed Financial  Closure as per PPA on June 4, 2019 (Jestha 21, 2076 BS).


List Of Hydropower Projects In Nepal (Developed By Private Sector)

List Of Hydro-power Projects With Construction License


Investopaper is a financial website which provides news, articles, data, and reports related to business, finance and economics.

4 thoughts on “IPO Allotment Of Upper Syange Hydropower Concluded [IPO Result]

  • July 9, 2023 at 11:04 am

    Kina ho upper syange hydropower le ajhoi samma poisa return gareko xaina aru ko sab ko poisa return vaxa mero vako xaina na tah IPO jo pareko xa na poisa return vako xa ?????????

  • July 9, 2023 at 11:16 am

    Hlo mero reply garnnu paryo ajhoi samma upper syange hydropower le kina poisa return gareko xaina ipo naparda ni yesko reply garnnai paryo ???? Yesma saknu hunna vani Gmailma answer pathaunus sab ko return vaxa poisa mero kina vanyena

  • July 18, 2023 at 8:30 am

    paisa kina return na aako …… natra share paro natra paisa aayo …..kina yestro vako …. yo company lastei katam raxa …. ipo ko tw paisa return garey na….

  • August 6, 2023 at 8:21 am

    Allotted vyo but Mero share ma aako xaina derai vyo k vko ho yo.


Leave a Reply

Your email address will not be published.

error: Content is protected !!