Asian Hydropower IPO Closing from Today for Illam District Residents Affected by the Project. From today, or the 19th Poush, 2079, Asian Hydropower Limited will no longer accept applications from residents who would be harmed by the project.
The article was scheduled to be published on Poush 12 and has been open since the 27th Mangsir, 2079. The issue, however, had a low subscription count at the early closing date, thus the deadline was extended until today.
10%, or 3,40,000 unit shares worth Rs. 3.4 crore, of the company’s Rs. 34 crore issued capital has been distributed to residents of the Ilam District who would be impacted by the project. 8,40,000 unit shares, or 24.71% of the company’s issued capital, will be made subsequently available to the general public. 10% of the shares, or 84,000 units, were reserved for Nepalese nationals who were working overseas. On Poush 12, the time for Nepalese nationals working overseas to file an IPO also expired.
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Project-affected residents and Nepalese nationals working abroad should submit applications in quantities of at least 10 units and up to 20,000 units. NMB Capital Limited is the issue manager of Asian Hydropower Ltd.
Asian Hydropower Limited has been given the issuer rating of “CARE-NP BB (Is)” by CARE Ratings Nepal Limited (CRNL). Issuers with this grade are thought to have a modest risk of default when it comes to the timely payment of debts in Nepal.
Also Read About the Company: Asian Hydropower IPO Closing from Today
On May 5, 2016, Asian Hydropower Ltd. was established as a private limited company. On July 10, 2019, the firm underwent a conversion to become a public limited company. Lower Jogmai Hydropower Project (LJHP) is a 6.2 MW run-of-river hydropower project in Nepal’s Illam district that is being developed by individual promoters from various backgrounds and institutional investors.
It will be built under the “BOOT” (Build, Own, Operate, and Transfer) model. On November 1st, 2021, the project began making money. The power plant makes use of the Jogmai Khola’s head and flows resources (river). With a 5.70m3/s design discharge at a 40% exceedance flow, the project has a 132.2 km2 catchment area.
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