Opening Range of Hathway Investment Nepal Limited (HINL)

The IPO allocation for Hathway Investment Nepal Limited occurred on Tuesday, specifically on the 2nd of Ashwin in the year 2080. This allocation event was conducted at the premises of the issue manager, Global IME Capital Limited, located in Kathmandu.

The company issued an IPO of Rs. 14.62 crores which is 12.5% of the company.

The promoter shareholding to public holding ratio is 87.5%:12.5%.

Out of the total of 2,925,000 units offered, 10% of them, equivalent to 292,500 unit shares, were designated for Nepalese citizens employed overseas. Additionally, 2% of the total, which equates to 58,500 units, was reserved for the company's employees, and 5% of the overall offered shares, amounting to 146,250 units, were set aside for mutual funds. The remaining 2,427,750 units were made available to the general public.

This issuance raised a sum of Rs. 14.625 crores for the company, given that each share was issued at a nominal value of Rs. 50 per share. As a result, the company's existing paid-up capital, currently standing at Rs. 1.023 Arba, is set to increase to Rs. 1.17 Arba following the completion of the IPO allocation process.

The initial trading range of the company is determined based on its audited book value, and this range is established by multiplying the audited book value by a factor of 3.

In the case of this company, the audited book value stands at Rs. 95.09. Hence, the opening range of the company will be Rs. 95.09 to Rs. 285.27.

Global IME Capital Ltd has been appointed as the issue manager responsible for overseeing the IPO process for the general public.