Makar Jitumay Suri Hydropower Allotted IPO Shares to Nepalese Employed working abroad & Project Affected Locals
On 9th Chaitra, 2079, Makar Jitumaya Suri Hydropower Company Limited concluded the allotment program for IPO shares to project-affected locals of Dolakha District and Nepalese citizens working abroad.
The company had an issued capital of Rs. 76 Crores, out of which 7,60,000 unit shares worth Rs. 7.6 crores were allocate to project-affected locals of Dolakha District (Locals of Gaurisankhar gaupalika and Bigu gaupalika), which constitute 10% of the total capital.
The company has decide to issue 20% of the issue capital i.e. 15,20,000 unit shares for the general public later. Of this public issue, 10% of the shares, totalling 152,000 units shares, were allocat to Nepalese citizens working abroad. The issue was open on 15th Magh, 2079.
The company announced today that it had allotted the issued units to valid applicants on 9th Chaitra, 2079. Prabhu Capital Limited acted as the issue manager for the process.
According to the allotment notice, 3,514 applicants from project-affected palikas who applied for 10 to 9,990 unit shares received the total demanded quantity, with only 6,78,600 units allotted out of the total issued 7.60 lakh units.
In addition, 15,041 applicants working abroad who applie for 10 to 2,010 units were allot 10 units each. Furthermore, 159 lucky applicants were give an additional 10 units each in a lucky draw.
As per the media statement, intereste individuals can view the IPO result on the official sites of https://results.prabhucapital.com, https://iporesult.cdsc.com.np and Meroshare.
Makar Jitumaya Suri Hydropower Limited’s issuance rating of “CARE-NP BB (Is)” has been confirmed by CARE Ratings Nepal Limited (CRNL). Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations in Nepal.
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