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The initial public offering (IPO) of Sanigad Hydro has been allotted, with more than 2.29 million applicants failing to receive shares due to overwhelming demand.

The company’s share issue and sales manager, Laxmi Sunrise Capital, completed the allotment on Monday. Out of a total of 2,759,490 applicants, only 467,400 applicants received 10 units of shares each, while 2,292,090 applicants were left empty-handed.

Investors can check the IPO allotment results through the Mero Share platform and the website of CDS and Clearing Limited (CDSC).

The company had opened the IPO for the general public in the third week of Jestha after distributing shares to local residents affected by the project and Nepali workers employed abroad in the first phase.

Sanigad Hydro had received approval from the Securities Board of Nepal (SEBON) to issue 8.55 million shares worth Rs 855 million, equivalent to 30 percent of its paid-up capital of Rs 2.85 billion.

In its IPO rating, ICRA Nepal assigned the company an issuer rating of [ICRANP-IR] BB-, indicating a moderate risk regarding its ability to meet financial obligations.

Sanigad Hydro is developing the 38.46 MW Upper Kalangad Hydropower Project, which has an estimated total cost of Rs 8.687 billion.

As of mid-January 2026, the company reported earnings per share (EPS) of Rs 8.65 and a net worth per share of Rs 113.22. According to its prospectus, it had accumulated profits of Rs 263.7 million during the period.

Businessman and Nepali Congress leader Umesh Shrestha serves as the chairman of the company. He holds 897,000 shares in Sanigad Hydro.