Asian Hydropower Limited’s IPO allotment is scheduled to take place on February 24th, 2023 at the offices of NMB Capital Limited in Naxal, starting at 9 am.
The company offered 6,97,200 units of shares at a face value of Rs. 100 each, totaling Rs. 6.97 crore, to the general public as an initial public offering from January 10th to February 16th. Out of the total 840,000 units, 84,000 units were allotted to Nepalese citizens working abroad, 16,800 units were reserved for the company’s employees, and 42,000 units were set aside for mutual funds. The remaining 6,97,200 units were available to the general public.
The IPO issuance will increase the company’s paid-up capital to Rs. 34 Crores. According to data from CDSC, the company received 14,92,778 applications for a total of 16,626,520 units of shares, making the IPO oversubscribed by 23.84 times. This means that only 69,720 applicants will be allocated shares in the company.
Asian Hydropower Limited has an issuer rating of ‘CARE-NP BB (Is)’ assigned by CARE Ratings Nepal Limited (CRNL). This rating indicates that issuers have a moderate risk of default regarding the timely servicing of financial obligations in Nepal.
source:nepsebajar
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