Shikhar Power Development Limited IPO Allotment Concludes: Lucky 1,84,260 Applicants Allotted 10 Units Each via Lottery System
Summary
Shikhar Power Development Limited concluded its IPO allotment, allocating 10 units each to 1,84,260 applicants through a lottery system. The company plans to operate hydroelectric projects in Baglung District with upgraded credit ratings.
Key Points
- Shikhar Power Development Limited issued 18,42,600 units in its IPO to the public.
- 1,84,260 applicants were allotted 10 units each via lottery from 26,50,847 valid applications.
- The company’s credit rating was upgraded from BB- to BB by ICRA Nepal Limited.
- SPDL plans commercial operation of a 4.96 MW hydro project by January 2025 and a 6.05 MW project by June 2027 in Baglung.
