Super Madi Hydropower Limited is going to issue 17,43,000 Units of IPO shares to the General Public from 9th of Magh
Super Madi Hydropower limited already releases its offer letter to issue an IPO for the general Public. According to the company, the IPO will issue on the 9th of Magh 2079 with a Face value of Rs. 100. The company expects this IPO to bring in Rs. 17.43 Crore.
This IPO will close on the 12th of Magh 2079, But if the issue is not Fully Subscribed it may postpone up to 23 Magh. 10%, or 210,000 units, of the total 21,00,000 units have already been released and allocated to Nepalese residents who are working abroad. 2%, or 42,000 units, have been set aside for the company’s employees. 5% of the total offered shares, or 105,000 units, have been set aside for mutual funds. The general public will receive the remaining 17,43,000 units. Once the IPO is issued, the company’s paid-up capital will be Rs. 2.10 Arba.
| Face Value | Rs. 100 |
| Number of Shares | 17,43,000 Units of Share |
| Opening Date | 9 Magh 2079 |
| Early Closing Date | 12 Magh 2079 |
| If not fully subscribed | 23 Magh 2079 |
Previously to this, the company distributed 210,000 units of shares to Nepalese nationals working abroad and 10,50,000 units of shares worth Rs. 10.50 crore to locals impacted by the project. In total, the promoter owners own 85% of the company’s shares.
The issue manager is Sanima Capital Ltd for this IPO. A minimum of 10 units and a maximum of 50,000 units may be requested in an application. Super Madi Hydropower Limited has give an Issuer rating of [ICRANP-IR] BB by ICRA Nepal (pronounced ICRA NP issuer rating double B). The prompt servicing of financial obligations is thought to pose a modest risk of default for issuers with this rating.
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