Last day to apply for the IPO of Hathway Investment Nepal

Hathway Investment Nepal Limited is in the process of concluding its public offering of 24,27,750 shares with a face value of NPR 50 per share, which commenced on the 21st of Bhadra, 2080, and is set to close on the 25th of Bhadra.

- Company Name: Hathway Investment Nepal Ltd (HATHWAY)
- IPO Type: For General Public
- Issue Manager: Global IME Capital Limited
- Total Issued Units: 2,427,750 shares
- Number of Applications: 1,142,252
- Total Applied Units: 27,258,220 shares
- Total Amount Raised: NPR 1,362,911,000
- IPO Open Date: September 7, 2023
- IPO Close Date: September 11, 2023

Hathway Investment Nepal Ltd (HATHWAY) has conducted an Initial Public Offering (IPO) for the general public, with Global IME Capital Limited serving as the issue manager. In this offering, a total of 2,427,750 shares were made available for purchase by interested investors. Impressively, the response was significant, with 1,142,252 applications received, collectively requesting 27,258,220 shares, resulting in a substantial total amount of NPR 1,362,911,000 being raised through this IPO. The offering had a one-day window, opening and closing on September 11, 2023, and it was oversubscribed by 9.97 times, showcasing the strong investor interest in Hathway Investment Nepal Ltd's shares.

This offering is part of the company's effort to raise capital, and it represents 12.50% of its total issued capital, which stands at Rs. 1.17 Arba. Out of this allocation, 10% (292,500 shares) is designated for Nepalese citizens working abroad, 2% (58,500 shares) for company employees, and 5% (146,250 shares) for mutual funds. The remaining 24,27,750 shares are intended for the general public.

Global IME Capital Limited is overseeing the issuance process, and investors can apply for a minimum of 20 shares and a maximum of 100,000 shares. This offering is expected to generate Rs. 14.625 crores for the company as each share is priced at the face value of Rs. 50 per share. After the allotment of IPO shares, the company's paid-up capital will increase from Rs. 1.023 Arba to Rs. 1.17 Arba.

Remarkably, there has been significant interest in this offering, with 10,10,034 applicants applying for a total of 24,192,840 shares, amounting to Rs. 1.21 Arba. This oversubscription amounts to nearly 10 times the available shares.

ICRA Nepal has assessed Hathway Investment Nepal Limited's long-term bank limits with a rating of [ICRANP] LBBB- and reaffirmed a short-term rating of [ICRANP] A3 for the short-term bank limits. The issuer rating for the company has also been reaffirmed at [ICRANP-IR] BBB-.

Hathway Investment Nepal Ltd. (HINL) stands out as Nepal's pioneering private-equity investment company, with a focus on investments that bring about positive changes and contribute to areas like job creation and the local economy. Founded in 2009, HINL plays a significant role in providing private equity across various sectors, including the capital market, tourism, infrastructure, financial sectors, and SMEs. Their renewed emphasis on equity investments aims to assist SMEs throughout Nepal and facilitate transformative management changes.