Taksar Pikhuwa Khola Hydropower Limited IPO Allotment Concludes For Nepalese Citizens Working Abroad: Lucky 30,306 Applicants Allotted 10 Units Each via Lottery System

The IPO allotment for Nepalese citizens working abroad by Taksar Pikhuwa Khola Hydropower Limited was concluded today, Baisakh 04 , 2083.

The issued capital of the company is Rs. 1.20 arba. Of this, 35.26%, i.e., 42,30,668 unit shares, will be issued to the public. Out of the total issue capital, 10%, which amounts to 12,00,000 unit shares worth Rs. 12 Crores, will be allocated to project-affected locals of Bhojpur district. The remaining 25.26% of the issued capital, i.e., 30,30,668 unit shares, will be offered to the general public. Of this general public issue, 10% of 30,30,668 , a total of 3,03,067 unit shares, were for Nepalese citizens working abroad.

The issue received a total of 76,381 valid applications for 1,092,370 units. Meanwhile, 21 applications for 220 units were disqualified.

As per the allotment module, 30,306 applicants were allotted 10 units each. while 7 applicants received an additional 1 unit each, bringing their total allotment to 11 units per applicant.

Allotment Module:

The IPO result can be accessed by CDSC IPO Result, MeroShare, and Prabhu Capital Limited.

Prabhu Capital Limited has been appointed the issue manager for the public offering. The minimum application quantity for Nepalese citizens working abroad was 10 units, and the maximum was 1,000 units.

CARE Ratings Nepal Limited (CRNL) has reaffirmed the issuer rating of `CARE-NP BB+ (Is)’ assigned to Taksar Pikhuwa Khola Hydropower Limited (TPKH). Issuers with this rating are considered to offer a moderate risk of default regarding the timely servicing of financial obligations in Nepal.

Taksar Pikhuwa Khola Hydro Power Limited (TPKH) is a public company, incorporated on April 23, 2014, as a private company, which was converted into a public limited company on September 29, 2021. It is promoted by individual promoters from different backgrounds for setting up of an 8 MW run- of-river, Taksar Pikhuwa Khola Hydropower Project (TPKHP) in Bhojpur district of Nepal.