Trade Tower Limited announced the release of 32,96,505.19 units valued at Rs 32.96 crores as part of its Initial Public Offering (IPO) available to the public (from 14th Jestha to 20th Jestha, 2082).
Of the total 39,71,69,300 units, 10%, which amounts to 3,97,169.30 units, had already been allocated to Nepalese citizens employed overseas, while 2%, equating to 79,433.86 units, was earmarked for the company’s employees, and 5% of the total shares offered, or 1,98,584.65 units, was designated for mutual funds. The remaining 32,96,505.19 units were made available to the general public at a nominal value of Rs. 100.
This offering attracted a staggering 2,074,285 applications for 24,117,480 units, leading to an oversubscription ratio exceeding 7.31 times. In the process, 14,897 applications were declined.
Per the allotment method, a total of 3,29,650 applicants were randomly selected to receive 10 units each, an additional 5 applicants gained 1 unit each, and a solitary applicant was allotted 0.19 units.
Allotment Module:
The outcome of the IPO can be found via the CDSC IPO Result, MeroShare, and LS Capital Limited.
ICRA Nepal has reaffirmed a [ICRANP-IR] BB-issuer rating for Trade Tower Limited (TTL), implying a moderate risk of default regarding financial responsibilities. This rating signifies overall credit health and is not confined to any particular debt instrument.
Founded in 2007 and situated in Thapathali, Kathmandu, Trade Tower Limited (TTL) operates as a public limited entity involved in leasing, financing, and infrastructure projects. Its inaugural venture, Trade Tower Thapathali, has been in operation since April 2011. Recently, TTL debuted Hotel Crystal Pashupati, a three-star accommodation in Gaushala, which started partial operations in mid-April 2024, featuring 49 out of 90 rooms and two conference spaces. By mid-October 2024, TTL is wholly owned by over 350 promoters but plans to issue an IPO, lowering promoter ownership to approximately 51%. Mr. Shiva Hari Dangal serves as the principal shareholder and chairman of the company.
