Sanigad Hydro Limited has officially completed the allotment process of its Initial Public Offering (IPO), marking another highly oversubscribed public issue in Nepal’s capital market. The share allocation program was conducted today at the office of the issue manager, LS Capital Limited, located in New Baneshwor, Kathmandu.
The company had opened its IPO for the general public from Jestha 18 to Jestha 21, 2083, offering a total of 46,74,000 ordinary shares. The issue attracted significant investor interest, continuing the strong participation trend seen in Nepal’s primary market.
Sanigad Hydro’s total issued capital stands at NPR 2.85 billion. Under its public offering structure, 30% of the company’s capital, equivalent to 85,50,000 shares, was allocated to public investors. Before opening the issue to the general public, the company had already distributed 28,50,000 shares to project-affected locals of Bajhang District and reserved 5,70,000 shares for Nepali citizens working abroad.
Additionally, the company allocated 1,71,000 shares for employees and reserved 2,85,000 shares for mutual funds. After completing these allocations, the remaining 46,74,000 shares were made available to the general investing public.
Investor participation remained exceptionally high. According to the allotment report, the IPO received 27,27,515 valid applications seeking more than 29.75 crore shares. Meanwhile, 27,729 applications requesting 3,34,920 shares were rejected during the verification process.
Due to heavy oversubscription, the allotment was conducted through a lottery method. As a result, only 4,67,400 applicants received allocation, with each successful applicant receiving 10 units of shares. The remaining applicants returned empty-handed.
Investors can check the IPO result through CDSC IPO Result, MeroShare, and the official platform of LS Capital Limited.
In a recent development ahead of listing, ICRA Nepal upgraded Sanigad Hydro Limited’s issuer rating to [ICRANP-IR] BB- from [ICRANP-IR] B+, indicating an improved but still moderate level of credit risk in servicing financial obligations.
Sanigad Hydro Limited was established in December 2007 and later converted into a public company in July 2021. The company currently operates the 38.46 MW Upper Kalanga Gad Hydroelectric Project located in Bajhang District of Sudurpaschim Province and aims to strengthen its long-term position in Nepal’s growing hydropower sector.
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