Trade Tower Limited IPO Allotment to be announced on Sunday, 1st Ashadh 2082; Only 3,29,650 Applicants will get shares
The IPO allotment of Trade Tower Limited (TTL) will come to an end this Sunday, 1 st Ashadh, 2082 at LS Capital Limited, the issue manager situated at New Baneshwor, Kathmandu.
of the total issued shares of 3,97,16,930 the shares were distributed as follows:
- 10 percent (3,97,169.30 units) of the Nepalese citizens employed in foreign countries.
- 2% (79,433.86 units) of the shares are reserved to the employees of the company
- 5% (1,98,584.65 units) invested in mutual funds.
- The rest 32,96,505.19 to the general public.
The Central Depository System and Clearing Limited (CDSC) revealed that 21,71,154 applicants participated in the IPO. Availability-wise, however, only 3,29,650 successful applicants will receive 10 units each, which means it is very much oversubscribed.
ICRA Nepal has restated [ICRANP-IR] BB-issuer rating of Trade Tower Limited, which indicated moderate credit risk to Trade Tower Limited in meeting its financial obligation.
TTL started in 2007 and it is a public limited company whose headquarters is situated in Thapathali, Kathmandu and its main business is leasing, financing and infrastructure development. Its first project, the Trade Tower Thapathali opened in April 2011. Recently the company has opened Hotel Crystal Pashupati, a three-star hotel in Gaushala which started partial operation in April 2024 with 49 rooms out of 90 open.
By mid October 2024, the company is wholly owned by more than 350 promoters but the IPO would dilute the promoter stake to approximately 51 per cent. Mr. The major shareholder and the chairman of the company is Shiva Hari Dangal.
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About Trade Tower Limited (TTL)
Established in 2007, Trade Tower Limited is a public limited company based in Thapathali, Kathmandu. TTL is involved in:
- Leasing services
- Financial solutions
- Infrastructure development
Key Projects:
- Trade Tower Thapathali : A key business center in Kathmandu, the property is the flagship commercial property of TTL, which has been operational since April 2011.
- Hotel Crystal Pashupati : The most recent undertaking of TTL is a three-star hotel at Gaushala, Kathmandu. In April 2024, the hotel started operating partially, delivering 49 rooms out of 90 and two conference halls.