Upper Solu Hydro Electric Company limited IPO Result -Allocated to 1,82,047 Applicants

Upper Solu Hydro Electric Company limited IPO Result: Today at the Nagpokhari, Kathmandu, offices of the issue manager NMB Capital, the Upper Solu Hydro Electric Company Limited (USHEC)’s public offering (IPO) allotment came to an end.

As part of its initial public offering, Upper Solu Hydro Electric Company Limited (USHEC) distributed 19,57,500 units for a total price of Rs (Ashad 20-23, 2079).

2 percent of the total offered shares to the general public, or 39,150 units, have been set aside for the company’s workers, and 5 percent, or 97,875 units, have been set aside for mutual funds out of the 19,57,500 units that have been made available. 18,20,475 units are left over for sale to the general public. This represents the 14.5 percent of the issued capital in shares.

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14,46,985 legitimate applicants submitted applications for 1,61,60,380 units altogether as part of the issue. The issue received more than 8.87 times its initial subscription.

Upper Solu Hydro Electric Company limited IPO Result
Upper Solu Hydro Electric Company limited IPO Result

According to the allocation module, a total of 1,82,047 candidates received 10 units apiece through a lottery, and an additional 5 lucky applicants received an additional unit. The remaining 12,64,938 applicants received no compensation.

A total of 97,875 units were allocated to mutual funds, while 39,150 units were distributed to the company’s personnel.

1,791 candidates out of a total of 26,170 applicants were rejected for submitting duplicate applications.

CDSC IPO Result, NMB Capital, and MeroShare all have access to the IPO results.

After the IPO shares are distributed, the total paid-up capital would be Rs 1.35 arba.

ICRA Nepal has reaffirmed Upper Solu Hydro Electric Company Limited’s issuer rating of [ICRANP-IR] BB+ (pronounced ICRA NP issuer rating double B plus) (USHEC or the company). Issuers with this rating are thought to have a moderate risk of defaulting on their financial obligations in a timely manner.

Originally established as a private limited corporation on May 28, 2010, Upper Solu Hydro Electric Company Limited (USHEC) changed its status to a public limited company on April 14, 2016, enabling public participation. In Nepal’s Province 1’s Solukhumbu area, the firm runs a 23.5MW Solu HEP.

There is a 40% chance that the project’s run-of-the-river (R-o-R) design will surpass the goal (Q40). On March 23, 2020, the project’s activities got underway at a total cost of NPR 5,000 million and a debt-to-equity ratio of 75.50:24.50. One of the Super-Six projects that the Nepalese Department of Electricity Development (DoED) initially explored was the 23.5MW Solu HEP project.

Updated: July 14, 2022 — 6:31 PM

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