Nabil Investment Banking Limited, the issue manager for the IPO of Radhi Bidhut Company Limited, has allotted 7,64,550 units IPO shares today. The allotment was held at Nabil Invesment Banking premises in Naxal, Kathmandu at 9:00 AM.
Out of 1,64,990 valid applicants, only 71,102 applicants have been allotted a minimum number of 10 units through lottery and one applicant allotted with 11 unit shares. Also, mutual funds were allotted with 38,228 unit shares and staffs of the company were allotted with 15,291 unit shares.
There were 1,66,317 applicants but application of 1,327 applicants were cancelled due to double application, mistakes in Demat account number and application made for more or less than mentioned kitta.
Radhi Bidhyut Company Limited had floated Initial Public Offering (IPO) of 7,64,550 units shares from Poush 3 to Poush 6, 2074.
It had floated 4,10,000 units IPO shares to the local people of Lamjung district from Baisakh 5 to Jestha 3, 2074, however, 149,550 units were not subscribed and were floated to the general public during this issue.
Radhi Bidyut Company Limited operates a 4.40 MW Radhi Small Hydropower Project in Lamjung district that has been generating electricity since Jestha 31, 2071 and is connected to the national grid. ICRA Nepal assigned an [ICRANP] IPO Grade 3 rating to this IPO, indicating average fundamentals.
The authorized capital of company is Rs 1.50 arba. The paid up capital of the company remains at Rs 30.75 crore. After the IPO for the locals of project affected area and for general public, its paid up capital will reach Rs 41 crore.
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