1. IME Life Insurance IPO Result Published on 2080/03/30 in the morning
Tomorrow, on a delightful Saturday morning, the eagerly
anticipated moment arrives as IME Life Insurance prepares to distribute its IPO
to the enthusiastic general public. At precisely 11 am, the venue for this
exciting event will be the office of the company's trusted share issue and
sales manager, Civil Capital, nestled within the vibrant CTC Mall in Sundhara.
During the period from Asar 21st to 25th, IME Life Insurance took a significant step by releasing 1.2 million shares, valued at a remarkableRs. 1.2 billion, each with a face value of Rs. 100. This strategic move aimed to provide a golden opportunity for investors to become part of the company's vision and future growth.
Out of this substantial offering, a considerate portion, amounting to 10 percent or precisely 1.2 million shares, was thoughtfully allocated and distributed to diligent Nepali citizens who secured labor approval from the relevant government agencies while working abroad. This gesture not only fosters a sense of inclusivity but also allows these hardworking individuals to contribute to the company's prosperity from afar.
Additionally, 5 percent of the total issued shares, equivalent to 600,000 shares, were meticulously reserved for the collective investment fund. This measure ensures that those seeking to pool their resources together can participate and reap the potential benefits of collective investment strategies. Furthermore, another 5 percent, mirroring the same figure of 600,000 shares, was dedicated to the devoted employees of IME Life Insurance. This unique opportunity allows the company's valued staff to share in the success they actively contribute to, creating a harmonious alignment of interests.
The remaining 9.6 million shares, representing the lion's share of the IPO, are eagerly anticipated by the general investors who eagerly await their chance to secure a stake in IME Life Insurance. However, due to the overwhelming demand reflected in the multitude of applications received, a well-structured process will be implemented to ensure fairness and transparency.
Following the Securities Issuance and Allotment Guidelines, the shares will be distributed in a meticulous manner. The distribution will commence at a minimum rate of 10 shares per individual through a round-robin methodology. This process aims to provide equal opportunities to all interested investors while adhering to regulatory standards. As a result, only 960,000 fortunate individuals will have the privilege of obtaining 10 shares each, making them proud stakeholders in IME Life Insurance.
This significant milestone in the company's journey represents a momentous occasion, as the public's trust and enthusiasm have propelled IME Life Insurance towards a promising future. As the IPO distribution unfolds tomorrow, the air will be filled with anticipation, as numerous individuals embark on their investment journey alongside a dynamic and reputable insurance company.
2. Kutheli Bukhari Small Hydropower Limited, a company that
generates renewable energy from the force of flowing water, is reaching a
significant milestone. Today, on the 29th of Ashad, 2080, the company is
concluding the issuance of its Initial Public Offering (IPO), consisting of
101,151 shares with a face value of Rs 100 each. This opportunity to own a
stake in the company opened on the 26th of Ashad, 2080.
Within the total offering of 121,867 shares, certain portions have already been allocated to specific groups. Firstly, 12,186 shares, equivalent to 10% of the total, were granted to hardworking Nepalese citizens employed overseas. Additionally, 5% of the shares, amounting to 6,093 units, were reserved for mutual funds. Lastly, 2% of the shares, totaling 2,437 units, were set aside for the dedicated employees of the company. The remaining 101,151 shares are available for the general public to obtain a share in the company's prosperity. Through this IPO, the company aims to collect Rs 1.01 crore, which will contribute to its paid-up capital of Rs. 12.18 Crores.
Prior to this IPO, Kutheli Bukhari Small Hydropower Limited had already distributed 121,868 shares worth Rs.
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Once this IPO concludes, the proportion between shares owned by the company's promoters and the general public will be set at 80:20.
The responsibility of overseeing this IPO issuance has been entrusted to NMBCapital Limited, serving as the issue manager. Interested individuals can submit their applications, with a minimum requirement of 10 units and a maximum limit of 1,000 units per applicant.
Astoundingly, the IPO has garnered overwhelming interest from the public, as confirmed by the Capital Market Regulator, CDSC. A staggering 973,353 applicants have applied for a total of 10,481,890 units, resulting in an oversubscription of 103.62 times thus far. This fervent response reflects the strong confidence and demand for shares in Kutheli Bukhari Small HydropowerLimited.
To ensure transparency and provide valuable insights for potential investors, ICRA Nepal has reaffirmed the issuer rating of Kutheli Bukhari Small Hydropower Limited as [ICRANPIR] BBB-. This rating signifies a moderate degree of safety regarding the company's ability to fulfill its financial obligations in a timely manner, instilling trust among investors.
Kutheli Bukhari Small Hydropower Ltd. began its journey on August 11, 2011, as a private limited company and later transformed into a public limited company on January 28, 2015, enabling public participation. The company is presently operating the Suspa Bukhari Khola Small Hydroelectric Power Plant, generating 0.998 megawatts of clean energy in the Dolakha district, located in the Madhesh Province of Nepal. This run-of-the-river (R-o-R) type project, with a 40% probability of exceedance (Q40), commenced commercial operations on September 20, 2015, and was realized through an investment of approximately NPR 248 million.
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