Asian Hydropower is distributing IPO shares to Ilam District residents and Nepalese working abroad from Mangsir 27

Asian Hydropower is distributing IPO shares to Ilam District residents and Nepalese working abroad from Mangsir 27. In order to provide an Initial Public Offering (IPO) to the project’s affected residents of the Ilam District. And Nepalese nationals working abroad, Asian Hydropower Limited has published an offer letter.

The initial public offering (IPO) for locals and Nepalese nationals working abroad will begin on Mangsir 27 and end on Poush 12, 2079. For residents of the Ilam District, it is necessary to highlight that if the early closing date is not fulfill, the issue can persist until the 27th Poush. However, the problem won’t last through the early closing date for Nepalese citizens working abroad.

The firm has an Rs. 34 crores issued capital, of which 10%, or Rs. 3.4 crore. Residents of the project-affect Ilam District have received 3,40,000 unit shares. The general public will get 8,40,000 unit shares, or 24.71% of the company’s issued capital, at a later date.  Nepalese nationals working abroad will receive 10% of the 84,000 unit shares, or 84,000 shares, of this public offering. The issue will begin trading on the above-mentioned date.

In order to apply, a minimum of 10 units should submit. And a maximum of 20,000 units should submit by both project-affected locals and Nepalese nationals working abroad. NMB Capital Ltd is the issue manager of this IPO.

About the Company: Asian Hydropower

The issuer rating given to Asian Hydropower Limited by CARE Ratings Nepal Limited (CRNL) has been reaffirmed as “CARE-NP BB (Is)”. With regard to the timely service of financial commitments in Nepal, issuers with this rating are regarded as having a moderate risk of default. Asian Hydropower Ltd. was established on May 5, 2016, first operating as a private limited company, and then changing its status to a public limited company on July 10, 2019.

The Lower Jogmai Hydropower Project (LJHP), which is 6.2 MW and located in Nepal’s Illam region, is being pushed by individual promoters from various backgrounds and institutional investors. The “BOOT” (Build, Own, Operate, and Transfer) paradigm should use during its construction. Beginning on November 1, 2021, the project began to do business. The power plant makes use of the Jogmai Khola’s available head and flows (river). 13.2 km2 of a catchment area, 5.70 m3/s design discharge, and 40% exceedance flow are all characteristics of the project.

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