IPO Allotment or Result of Shuvam Power | 48,188 Applicants Receive 10 Units Each Through a Lottery System

IPO Allotment or Result of Shuvam Power | 48,188 Applicants Receive 10 Units Each Through a Lottery System.

At the offices of Muktinath Capital Limited, the IPO allotment of Shuvam Power Limited (SHUVAM) has been completed.

In its Initial Public Offering (IPO), Shuvam Power Limited (SHUVAM) sold 4,81,882 units to the general public for a total of Rs. 4.81 crore (Magh 18-22, 2079).

10%, or 58,058 units, of the total 580,580 units have already release and allocate to Nepalese people living and working abroad. 2%, or 11,610 units, have been set aside for firm personnel. While 5%, or 29,030 units, of the total offered shares, have been put aside for mutual funds. 4,81,882 of the remaining units are available to the general public.

After the IPO, the company’s paid-up capital will amount to Rs. 20 crore. With this IPO, the business hopes to raise Rs. 4.81 crore.

12,75,421 legitimate candidates submitted applications for the issue, requesting a total of 1,38,47,570 units. More than 28.74 times more copies of the issue than were available.

According to the allocation module. A total of 48,188 candidates received 10 units apiece through a lottery and a further 1 unit was given to 2 applications. The other 12,27,233 applicants received nothing in return.

29,030 units were allocate to mutual funds. While 11,610 units were give to the employees.

In order to reach a total of 580,580 units release for the general public. The remaining 180,580 units of unsubscribe shares are added to 400,000 units. Which is 20% of shares allocate for the general public.

The promoter-public share ratio would 70:30 following the IPO, and the company’s total capital will rise to Rs 20 crore.

About the Company: –IPO Allotment or Result of Shuvam Power 

A public limited company named Shuvam Power Ltd was establish on December 29, 2015. The 0.99MW run-of-the-river Lower Piluwa Khola Small Hydroelectric Project (LPKHP), located in the Sankhuwasabha District, is operated by SPL and has been in service since July 17, 2011. On April 15, 2008, the firm received a Generation License from the Ministry of Energy of the Government of Nepal.

Shuvam Power Ltd has received the issuer rating of “CARE-NP BB+ (Is)” from CARE Ratings Nepal Ltd (CRNL). Issuers with this grade are thought to have a modest risk of default regarding the timely payment of debts in Nepal.

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