Nyadi Hydropower Limited published the IPO Result (Allotment) on 22 October 2021 Friday (2078 Kartik 5, 9:00 AM). Global IME Capital, the issue and sale manager of Nyadi Hydropower stated that the shares allotment ceremony distributed 10 units of share to 209250 applicants each from the round-robin method.
Nyadi Hydropower had issued 225000 units of shares worth Rs. 225 million to the public from October 1 to October 5. Out of the total shares issued to the public, only 2 percent or 45,000 units of shares are allotted to the employees, and 5 percent or 112,500 units of shares were allotted to the mutual investment fund, and only the remaining 2,092,500 units of shares were allotted to the general public.
According to the latest statistics, 2357166 applications have been received for the IPO of Nyadi Hydropower. This is 14.09 times more than the 2,94,77,650 units of share appplication from the public.
As there are more applications received than IPO Issued, shares were distributed at the rate of a minimum of 10 units as per the Securities Issuance and Distribution Directive.
Accordingly, only 209250 applicants got a minimum of 10 units of shares from the round-robin. The remaining 2.148 million applicants were empty hands.
Care Rating Nepal has given CareNP Double B Issuer rating to the IPO issued by the company. This indicates an average risk in the company's ability to meet financial obligations.
Care Rating Nepal had given a rating grade to the company's IPO on 2077 Ashoj 23. The rating is valid for one year from the date of issue.
How to Check IPO Result of Nyadi Hydropower:
Learn How to Check IPO result /allotment in Nepal. Learn the fastest and easiest way to check all companies' IPO results in Nepal. Follow a few steps to check an IPO result.
You have to follow the following instructions to check the IPO result of Nyadi Hydropower from the MeroShare (CDSC) website: iporesult.cdsc.com.np
Step 1: Log on to iporesult.cdsc.com.np (Check Here)
Step 2: You will view this type of interface on your device.
Step 3: Type your 16-digit BOID Number (Beneficial Owner Identification Number)
Step 4: Click on View Result Tab.
Finally, you will get the result message on the interface.
(Note: The IPO result will be shown after the share allotment and upload data on the server, it will take a few hours after the announcement)
Other Ways to Check IPO Result of Nyadi Hydropower:
1. MeroShare Official Website: https://meroshare.cdsc.com.np
2. Global IME Capital Limited - Global IME Capital IPO result (Check IPO Result on Global IME Capital) Website: https://globalimecapital.com/ipo-fpo-share-allotment-check (Check Here)
(Please select company name and provide DEMAT No. to view IPO result Select Company name and Type DEMAT Number)
IPO Detail Statement:
|The IPO Issuing Company||Nyadi Hydropower Limited|
|Issue Manager||Global IME Capital Limited|
|Security Type||Common Stock -IPO|
|IPO Issued Date||2078 Ashoj 15 to 19|
|IPO Face Value||Rs. 100|
|Total IPO Share||22,50,000 units|
|The share allocated for Mutual Investment (5%)||1,12,500 units|
|The Share allocated for employees (2%)||45,000 units|
|Total Share for Individual Investor (General Public = 93%)||20,92,500 units|
|Total Applied Units||2,6,503,140 units|
|Total Allotted Kitta||2092500 Kitta|
|Total Allottee||2,09,250 applicants|
Nyadi Hydropower Limited has been registered as a public limited company in the office of the Registrar of Companies on 2073 Falgun17 as per the Companies Act 2063 and has been conducting business since 2064 Falgun 26.
The Registrar's Office of Nyadi Hydropower is located at Ganga Devi Marg-313, Buddhanagar, Kathmandu. The office of Nyadi Hydropower Project under the company is located in Ward No. 6 of Marsyangdi Municipality.
Nyadi Hydropower is developing a 30 MW Nyadi Hydropower Project based on Run of River. The company has stated that 99 percent physical work of the project has been completed so far.
The total cost of the project is projected to be Rs 6.11 billion and Rs 20.39 million per MW.
Nyadi Hydropower had issued 4 million 50 thousand shares (including 1.5 million locals and 3,00,000 shares to the employees of the founding shareholders) equal to 27 percent of the issued capital of Rs 1.5 billion or Rs 405 million.
The capital raised by issuing IPO will be paid by the company to the contractor for the construction of civil hydro and electro-mechanical works. The company has stated that it will pay all the amount collected by issuing IPO to the contractor, i.e. Rs. 405 million.
Currently, the company's paid-up capital is Rs 1.95 billion. The company's paid-up capital has reached Rs 1.5 billion after selling the IPO to locals and the general public.
The authorized capital and issued capital of the company are both Rs 1.5 billion.
After the IPO issuance and allotment, the company's share ownership has remained at 73 percent of the founders and 27 percent of the public.
Board of Directors (BOD):
The board of directors of Nyadi Hydropower has five members. There is an arrangement to have a board of directors of 3 from the founding shareholders, 1 from the general shareholders, and one independent. The tenure of the operators will be 4 years.
Om Prakash Shrestha, representing Butwal Power, is the chairman of the company's board of directors. Similarly, Pradip Kumar Shrestha and Vijay Bahadur Shrestha are also on the board of directors from Butwal Power. Ram Bahadur Gurung is also on the board of directors on behalf of Lamjung Power Development Company.
Currently, there are only four members on the board of directors on behalf of the founding shareholders. The company has stated that it will select one operator on behalf of the general shareholders after the IPO issuance.
The chief executive officer of the company is Uttam Amatya. He has been working in various levels of Nepal Electricity Authority for 31 years.
Future plans and strategies:
The company has given high priority to the construction and operation of Nyadi Hydropower Project. As it can also invest in other hydropower projects, the company has stated that it will operate the project smoothly by completing the construction work of Nyadi Hydropower Project and repayment of the loan facilities taken during the construction of the project.
The company also plans to invest in other hydropower projects that are commercially viable to achieve its objectives, taking into account its capital and liabilities. For this purpose, the company plans to identify potential projects, study such project companies and find out if it is suitable to invest in them, and adopt a strategy to invest in the projects that are suitable for investment.