Supermai Hydropower will issue IPO shares to Illam District residents and Nepalese working abroad from Mangsir 21

Supermai Hydropower will issue IPO shares to Illam District residents and Nepalese working abroad from Mangsir 21. The project-affected residents of the Illam District and Nepalese nationals working abroad have received an offer letter from Supermai Hydropower Limited. To participate in an initial public offering (IPO). The initial public offering (IPO) for residents and Nepalese nationals working abroad will begin on Mangsir 21 and end on Poush 6, 2079. Be aware that for Illam District residents, if the issue is not subscribed by the early closing date, it may be prolonged till the 21st Poush. However, the issue won’t be continued over the early closing date for Nepalese nationals who are employed abroad.

The firm has an Rs. 50 crore issued capital, of which 10%, or 5,00,000 unit shares, worth Rs. 5 crores, have been given to Illam District residents who would be impacted by the project. Furthermore, 5,00,000 unit shares, or 10% of the company’s issued capital, will be made available to the general public later. 10% of the shares, or 50,000 units, have been set aside for Nepalese nationals working abroad. The offering will begin on the date already specified.

Supermai Hydropower will issue IPO shares to Illam District residents and Nepalese working abroad

For both project-affected residents and Nepalese nationals working abroad, the lowest application amount is 10 units, while the maximum number is 20,000 units. After this IPO, the promoter-public ratio will be 80:20. Sanima Capital Limited is the issue manager of this company.

ICRA Nepal has raised Super Mai Hydropower Limited (SMHLissuer)’s rating from [ICRANP-IR] BB+ to [ICRANP-IR] BBB- (pronounced ICRA NP issuer rating triple B negative) (pronounced ICRA NP issuer rating double B plus). Issuers with this grade are thought to have a reasonable level of safety when it comes to prompt payment of debts.

The 7.8-MW Super Mai HPP in Ilam district, Province 1 of Nepal, is run by Super Mai Hydropower Ltd. A public limited company that was established on July 2, 2017. The project has been created with a 40% possibility of exceeding its run-of-the-river (R-o-R) type. As of mid-July 2021, the business has NPR 400 million in paid-up capital.

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