IPO Allotment of Sikles Hydropower Limited Concludes: 105,800 Applicants Celebrate; 1,406,737 Applicants Return Empty-Handed

The IPO allotment of Sikles Hydropower Limited concludes with 105,800 applicants receiving shares and 1,406,737 returning empty-handed. The IPO allotment took place on the premises of Bank Of Kathmandu Capital.

Sikles Hydropower Restricted (SLHL) had given 11,50,000 units worth Rs 11.50 crore as the First sale of stock to the overall population (Bhadra 29-Asoj 2, 2079).

Out of all out, 11,50,000 units; 3% of the absolute offered shares for example 34,500 units have been saved for the workers of the organization and 5% of the total offered shares for example 57,500 units have been reserved for the joint assets. The leftover 10,58,000 units are for the overall population.

The organization expects to gather Rs 11.50 crore from this Initial public offering. The settled-up capital of the organization will arrive at Rs. 85 Crores after the Initial public offering issuance.

The issue had gotten applications from 1,512,537 substantial candidates who had applied for a sum of 16,368,300 units. The issue was oversubscribed by more than 15.47 times.

According to the distribution module, a sum of 105,800 candidates were designated 10 units each by means of lottery, and the excess 1,406,737 candidates were gotten back with void hands.

A total of 34,500 units were allotted to employees and 57,500 units were allotted to mutual funds.
In total 1,251 applicants who applied for 19,350 units were disqualified due to duplicate applications.
The IPO result can be accessed by CDSC IPO Result, MeroShare, and BOK Capital Markets Limited. 
Sikles Hydropower Limited (SLHL) is a public limited company, incorporated on July 28, 2004, as a private limited company and later converted to a public limited company on May 17, 2019. The company is setting up a 13MW run-of-the-river Madkyu Khola Hydroelectric Project (MKHP) in the Kaski District of Nepal. The project came into commercial operation on April 2, 2018. The project is constructed under the BOOT (Build, own, Operate, and Transfer) mechanism.
CARE Ratings Nepal Limited (CRNL) has assigned an Issuer rating of ‘CARE-NP BB+ (Is) [Double B Plus (Issuer Rating)]’ to Sikles Hydropower Limited (SLHL). Issuers with this rating are considered to have a moderate degree of safety regarding timely servicing of financial obligations, in Nepal.