The IPO allotment of Trade Tower Limited is scheduled for this upcoming Sunday, specifically on the 1st of Ashadh, 2082. The distribution event will take place at the location of the issue manager, LS Capital Limited, in New Baneshwor, Kathmandu.
Out of the overall 3,97,16,930 units, 10%, amounting to 3,97,169.30 units, has already been allocated to Nepalese citizens employed overseas, while 2%, translating to 79,433.86 units, has been reserved for the staff of the company, and 5% of the total available shares, which is 1,98,584.65 units, has been designated for mutual funds. The leftover 32,96,505.19 units were offered to the general populace.
As reported by CDSC, a total of 21,71,154 individuals have submitted applications by the cutoff date.
Analyzing the statistics, it is clear that only 3,29,650 fortunate applicants will gain ownership of the company.
ICRA Nepal has reaffirmed a [ICRANP-IR] BB-issuer rating for Trade Tower Limited (TTL), signaling a moderate risk regarding the ability to meet financial obligations. This rating represents the overall creditworthiness and is not linked to any particular debt instrument.
Established in 2007 and located in Thapathali, Kathmandu, Trade Tower Limited (TTL) is a public limited entity engaged in leasing, financing, and infrastructure development. Its inaugural venture, Trade Tower Thapathali, has been operational since April 2011. TTL has recently initiated Hotel Crystal Pashupati, a three-star establishment in Gaushala, which began partial operations in mid-April 2024 with 49 out of 90 available rooms and two conference facilities. As of mid-October 2024, TTL is entirely owned by over 350 promoters but intends to launch an IPO, which will reduce promoter ownership to approximately 51%. Mr. Shiva Hari Dangal serves as the primary shareholder and chairman of the company.
