IPO for General Public | Asian Hydropower is issuing 6,97,200 Units of IPO Shares from the 27th of Magh.
Asian Hydropower Limited has made available an offer letter for the public to purchase its Initial Public Offering (IPO).
From the 27th Magh of 2079, the corporation will issue 6,97,200 unit shares with a Rs 100 face value. The firm hopes to raise Rs 6.97 crore through this IPO. If the issue is not completely subscrib, it may extend until Falgun 12, 2079, even if the early closing date for this issue is on the 2nd Falgun.
Short Details about the IPO
|Number of Shares||6,97,200 Units of Share|
|Face Value||Rs. 100|
|Opening Date||27th Magh 2079|
|Early Closing Date||2nd Falgun 2079|
|If not fully subscribed it can be extended||12th Falgun 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 been set aside for the company’s workers, while 5%, or 42,000 units, of the total offered shares, have been 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 crore.
The corporation previously distribute 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. The promoter stockholders own 65.29% of the company’s shares.
The IPO’s issue manager has select, and name is NMB Capital Ltd. A minimum of 10 units and a maximum of 20,000 units may be requested in an application.
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.
About the IPO for General Public | Asian Hydropower
Asian Hydropower Ltd. was established on May 5, 2016, as a private limited company, then on July 10, 2019, it underwent a conversion to become a public limited company.
Building the 6.2 MW run-of-river Lower Jogmai Hydropower Project (LJHP) in Nepal’s Illam region utilizing the “BOOT” (Build, Own, Operate, and Transfer) model is being promoted by individual entrepreneurs from varied backgrounds and institutional investors. On November 1, 2021, the project began doing business.
The power plant makes use of the Jogmai Khola’s available heads and flows (river). 13.2 km2 of the catchment area, 5.70 m3/s design discharge, and 40% exceedance flow are all characteristics of the project.
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