Super Madi Hydropower Limited is Going to Close its 17,43,000 Units of IPO shares on 12th of Magh

Super Madi Hydropower Limited is Going to Close its 17,43,000 Units of IPO shares on 12th of Magh.

From today or the 12th Magh of 2079, Super Madi Hydropower Limited will have completed its first public offering to the general public of 17,43,000 unit shares with a face value of 100 rupees. The issue started on September 9th.

Out of the total 21,00,000 units, 10%, or 210,000 units, have already issue and allocat to Nepalese nationals living and working abroad. 2%, or 42,000 units. Have set aside for the company’s employees, and 5%, or 105,000 units, of the total offered shares, have set aside for mutual funds. 17.43,000 of the remaining units are for the general public. After the IPO, the company’s paid-up capital will amount to Rs. 2.10 Arba. With this IPO, the business hopes to raise Rs 17.43 crore.

Prior to this, the business distributed 210,000 units of shares to Nepalese nationals working abroad and 10,50,000 units of shares worth Rs. 10.50 crore to locals impacted by the project. In all, the promoter owners own 85% of the company’s shares.

Super Madi Hydropower Limited

Sanima Capital Limited has selecte to serve as the IPO’s issue manager. A minimum of 10 units and a maximum of 50,000 units may requested in an application.

1,027,843 applicants have submitted applications to CDSC for a total of 11,902,500 units. So far, there has a 6.82 times increase in the issue’s subscription volume.

Super Madi Hydropower Limited has been given an Issuer rating of [ICRANP-IR] BB by ICRA Nepal (pronounced ICRA NP issuer rating double B). The prompt servicing of financial obligations is thought to pose a modest risk of default for issuers with this grade.

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