Ingwa Hydropower is Closing its 6,00,000 Units of IPO of Locals

Ingwa Hydropower is Closing its 6,00,000 Units of IPO of Locals

On this day, Chaitra 20, 2079, Ingwa Hydropower Limited would have issued 6,00,000 units of IPO shares to the residents impacted by the project. The problem had started on Falgun 21, 2079.

10%, or 6,00,000 unit shares worth Rs. 6 crores, of the company’s Rs. 60 crores in issued capital have give to Taplejung District residents who will impact by the project.

A later date will see the issuance of 12,00,000 unit shares, representing 20% of the company’s outstanding capital. 10% of the shares, or 120,000 units, were designate for Nepalese people working abroad in this public offering, which close on the fifth of Chaitra.

Locals that will be impacted by the project must apply for a minimum of 10 units and a maximum of 20,000 units. The issue manager has selecte as Sunrise Capital Ltd. 

The issuer rating of “CARE-NP BB (Is)” given to Ingwa Hydropower Ltd by CARE Ratings Nepal Ltd (CRNL) has upheld. 

Ingwa Hydropower Ltd was establish on June 23, 2009, as a Private Ltd business. On August 25, 2014, the firm underwent a conversion to become a Public Limited company.

To build a 9.70 MW run-of-river Upper Ingwa Khola hydropower project (UIKHP) in Nepal’s Panchthar district, the firm has received support from institutional sponsors and private businesspeople in Nepal.

The Build, Own, Operate, and Transfer (BOOT) construction method is use for the project.

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