135,594 lucky applicants receive ten units each in the City Hotel IPO
Hyatt Place, Soalteemode, Kathmandu, has concluded the initial public offering of City Hotel Limited.
During Baisakh 25-28, 2080, City Hotel Limited issued 13,55,940 units worth Rs 13.55 crores as an initial public offering (IPO).
A total of 13,55,940 unit shares of Rs 100 face value were issued to the general public by the company. 16% of the total 16,74,000 units have already been allocated to Nepalese citizens working abroad, while 4%, 66,960 units, have been reserved for the employees of the company and 5% of the total shares offered are reserved for mutual funds, or 83,700 units. General public units total 13,55,940.
After the IPO allotment, the company’s total paid-up capital will be Rs 1.67 Arba.
In connection with the IPO issuance, Global IME Capital Limited has been appointed as the issue manager.
A total of 1,18,33,710 units had been applied for by 10,87,675 valid applicants. There was an oversubscription of more than 8.72 times for the issue.
The lottery module allocated 10 units to 1,35,594 applicants, while 9,52,081 applicants received no units.
Mutual funds received 83,700 units, and company employees received 66,960 units.
A total of 4,992 applicants were disqualified out of 61,660 applicants.
Modules for Allotment:
Global IME Capital, MeroShare, and CDSC IPO Result provide access to the IPO result.
The issuer rating of CARE Ratings Nepal Limited (CRNL) for City Hotel Limited has been reaffirmed at CARE-NP BB+ (Is). According to this rating, issuers with this rating are considered to have a moderate risk of default regarding timely payment of their financial obligations.
Founded on December 05, 2007, City Hotel Limited is developing and operating the Hyatt Place hotel in Soaltee, Kathmandu. In a variety of countries, Hyatt Place serves its guests with a mix of modern and cultural architecture. Located at the Red Cross Road, Soalteemode, Tahachal, Kathmandu, Nepal, the Hyatt Place, Kathmandu operates at 10 Ropani land.