Asian Hydropower is starting today to issue 697,200 units of IPO shares to the general public

Asian Hydropower is starting today to issue 697,200 units of IPO shares to the general public

From today or the 27th Magh of 2079. Asian Hydropower Limited is opening an issuance of 6,97,200 unit shares with a face value of Rs 100. With this IPO, the business hopes to raise Rs 6.97 crore. This issue has an early closing date of Falgun 2. If it is not completely subscribe, it can postponed until Falgun 12, 2079.

10%, or 84,000, of the total 840,000 units, have already release and allocated to Nepalese residents who are working abroad. 2%, or 16,800 units, have set aside for the company’s workers, while 5%, or 42,000 units, of the total offered shares, have set aside for mutual funds.

6,97,200 units are left over for sale to the general public. After the IPO, the company’s paid-up capital will amount to Rs. 34 crores.

The corporation previously distributed 84,000 units of shares to Nepalese nationals working abroad and 3,40,000 units of shares worth Rs. 3.4 crore to locals affected by the project. In all, the promoter stockholders own 65.29% of the company’s shares.

The IPO issuance’s issue manager is NMB Capital Ltd. A minimum of 10 units and a maximum of 20,000 units may requeste in an application.

Asian Hydropower ltd has give the issuer rating of “CARE-NP BB (Is)” by CARE Ratings Nepal Ltd (CRNL).

Issuers with this grade are thought to have a modest risk of default. Then it comes to the timely payment of debts in Nepal.

About the Company

Asian Hydropower Ltd. was establish on May 5, 2016, as a private limited company, then on July 10, 2019, it underwent a conversion to become a public limited company.

It is being marketed by independent entrepreneurs from various backgrounds and institutional investors to build the 6.2 MW run-of-river Lower Jogmai Hydropower Project (LJHP) in Nepal’s Illam district using the “BOOT” (Build, Own, Operate, and Transfer) model.

On November 1, 2021, the project began doing business. The power plant uses the Jogmai Khola’s available heads and flows (river).

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