IPO Results or Allotment of Makar Jitumaya Suri Hydropower

IPO Results or Allotment of Makar Jitumaya Suri Hydropower

The IPO Results of Makar Jitumaya Suri Hydropower is out now.

According to the allocation module, a total of 1,33,730 candidates received 10 units each through a lottery; two lucky applicants also received an additional unit; the remaining 11,47,672 applicants received nothing.

The initial public offering (IPO) was approved on 7th Poush 2079. The IPO was started on 19 Chitra 2079 (2023-04-02) at 10:00:00 AM and closed on 22 Chitra 2079 (2023-04-05) at 5:00:00 PM.

Short Details About the Company

                                     Makar Jitumaya Suri Hydropower Company
Face Value Rs. 100
For Company Employee 32,028 Units of Share
For Mutual Funds 80,070 Units of Share
For Nepalese Employee Working Abroad 1,52,000 Units of Share
For General Public 13,37,302 Units of Share
Issue Manager Prabhu Capital Limited
Number of Applicants 10,29,494
Oversubscribed by 8.62 times so far
Applied for 1,15,36,860 units
Issue Date 19th Chaitra 2079
Sector Hydropower
Minimum Quantity 10
Maximum Quantity 10000

Makar Jitumaya Suri Hydropower Company Limited has announced the closure of its 1,337,302 unit share issue with a face value of Rs. 100 per share starting from 22nd Chaitra.

The offering was opened on 19th Chaitra, 2079. The Makar Jitumaya Suri Hydropower company had initially issued 760,000 unit shares worth Rs. 7.6 crores to project-affected individuals in Dolakha district.

Out of which 81,400 shares remained unsubscribed and have been added to the 12,55,902 units reserved for the general public, bringing the total to 13,37,302 units.

Upcoming IPOs in Nepal 2023 updated List

The company is targeting to raise Rs. 13.37 crores through this initial public offering (IPO). Makar Jitumaya Suri Hydropower has allotted 10% of the total issued capital or 152,000 shares to Nepalese citizens working abroad.

2% or 32,028 shares to employees of the company, and 5% or 80,070 shares to mutual funds. The remaining 70% shares are with the promoter shareholders of the company.

Check for the Makar Jitumaya Suri Hydropower IPO result timeline.

As per CDSC, the issue has already been oversubscribed by 8.62 times, with 10,29,494 applicants applying for 1,15,36,860 units.

CARE Ratings Nepal Limited (CRNL) has assigned an issuer rating of ‘CARE-NP BB (Is)’ to Makar Jitumaya Suri Hydropower Limited, indicating a moderate risk of default in terms of timely servicing of financial obligations.

A lucky draw or lottery system will used to distribute shares. The applicants who submitted IPO applications between 2023-04-02 at 10:00 AM and 2023-04-05 at 5:00 PM will get the shares.

Online results for Makar Jitumaya Suri Hydropower can be viewed at Prabhu Capital Ltd. or CDS and Clearing Ltd. By login onto Mero Share, the applicants may also view the final result. IPO Results or Allotment of Makar Jitumaya Suri Hydropower

At Prabhu Capital Limited’s offices in Kathmandu, Makar Jitumaya Suri Hydropower Company Limited’s initial public offering (IPO) allocation has been completed. The banks will issue a refund if the shares are not allotted, and the allocation of shares will finally be completed.

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Bhugol Energy Development is closing its 13,46,993 IPO Shares of the General Public today 

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