Upper Solu Hydro Electric Company Limited To Issue 33,07,500 Worth of Shares
Upper Solu Hydro Electric Company Limited (USHEC) was established on May 28, 2010, as a private limited corporation, but on April 14, 2016, it was transformed into a public company to allow for public participation. In the Solukhumbu area of Nepal’s Province 1, the company operates a 23.5MW Solu HEP. The project is a run-of-the-river (R-o-R) design with a 40% possibility of exceeding the target (Q40). The project, which was created at a total cost of NPR 5,000 million, began operations on March 23, 2020. The 23.5MW Solu HEP project was one of the original Super-Six projects examined by the Nepalese Department of Electricity Development (DoED).
Upper Solu Hydro Electric Company’s initial public offering (IPO) has been approved.Upper Solu Hydro Electric Company Limited will launch an Initial Public Offering (IPO) (IPO). From Baisakh 22, 2079 B.S., Upper Solu Hydro Electric Company Limited will issue 13,50,000 shares to residents of the project-affected districts in the first round of the IPO. The shares are open to residents of all wards in the Solu Dudhukunda municipality of the Solukhumbhu district. The initial public offering will be open until Jestha 5, 2079 B.S. If the issue remains under-subscribed after that time, the application deadline will be extended until Jestha 20, 2079 B.S. Securities Board of Nepal (SEBON) granted permission to Upper Solu Hydro Electric Company Limited on Baisakh 7, 2079B.S. for the issuance of shares (24.50% of its issued capital). On Chaitra 16, 2077 B.S., the corporation submitted its application to the board. The corporation will sell shares to the general public after the first phase is completed. The company will issue 33,07,500 shares in total in the public offering. The total public issue is worth Rs 33.07 crores at a par value of Rs 100. Those interested can apply for as few as 10 shares or as many as 100,000. The IPO’s of Upper Solu Hydro Electric Company Limited issue manager is NMB Capital. At Solu Khola in the Solukhumbu district, the corporation runs the Solu Hydro-Electric Project. From Mangsir, 2076 B.S., the firm completed the project’s development and began generating electricity. The project is a run-of-river type with a 23.5 MW installed capacity. It produces 132.52 GWH of electricity per year. Laxmi Bank, together with the other banks and HIDCL, has contributed 75% of the project’s cost. With an investment of almost Rs 4.50 Arba, the project was finished.
IPO Details and IPO result Status of Upper Solu Hydro Electric Company Ltd:
Here is the IPO Details of Upper Solu Hydro Electric Company Limited by Mero Share.
Company Name:- Upper Solu Hydro Electric Company Limited
Type: – IPO
SCRIP: – USHEC
Issue Open Date:- 2079-01-22
If fully subscribed, Issue Close Date:- 2079-02-05, otherwise
Issue Close Date: – 2079-02-20
How to apply for the IPO of Upper Solu Hydro Electric Company Ltd?
- Type the official website of ‘meroshare.cdsc.com.np’ on your browser or your mobile.
- To log in, enter your username and password.
- On the left sidebar, select ‘My ASBA.’
- Then press the ‘Apply for Issue’ button. The list of IPOs can be found there. Click on the name of the IPO (in this case Upper Solu Hydro Electric Company Ltd) you want to learn more about.
- Select ‘Apply’ from the drop-down menu.
- Return to the page and fill in the Bank Name, Units you wish to apply for, and CRN number. After that, click ‘Proceed’ and mark a tick at the bottom left.
- Tap ‘Apply’ after entering the 4-digit transaction number. As a result, our issue will be successfully implemented, and your funds will be blocked until your stocks are allocated.
- To see the details of your application, go to ‘Application information.’ After allotment, the status of your application changes from ‘Unverified’ to ‘Verified.’ Furthermore, at the bottom of the page, you have the opportunity to edit your application.