Ashwin 15 releases 22.50 lakh Nyadi Hydropower IPO shares to the public
In Nyadi Hydropower Limited’s initial public offering (2078 from Ashwin 15-19), 22,50,000 units will be offered for sale worth Rs 22.50 crore. It is expected that this issue will close on Ashwin 19; however, if subscriptions are not met by Ashwin 19, it can be extended until Ashwin 31.
The company has offered 22,50,000 units, of which 2%, or 45,000, have been reserved for its employees and 5%, or 1,12,500, have been reserved for mutual funds. Twenty nine thousand two hundred fifty thousand units are for general public use.
Minimum and maximum application amounts can be placed for 10 and 50,000 units respectively.
This IPO is managed by Global IME Capital Limited and co-managed by NMB Capital Limited.
One million registered shares of the company are to be issued to the general public (locals and general Public) and to promoters. There is a 27% share in the paid-up capital of the company.
Nyadi Hydropower’s IPO issue for locals has expired
It will be 73:27, and its paid-up capital will be Rs 1.5 Arba when the IPO is issued in two phases, first to locals and employees of the promoter institutions (18,00,000 units are already issued) and then to the general public.
According to CARE Ratings Nepal Limited (CRNL), the Issuer rating of Ngadi Group Power Limited is CARE-NP BBB – (Is) [Pronounced triple B Minus (Issuer rating)]. This rating indicates that issuers in Nepal are moderately likely to meet their credit obligations on time.
Nyadi Hydropower Limited was incorporated in 2007 as a public company. Nyadi Hydropower Project (NHP) is to be set up in Marshyangdi Municipality, Lamjung district of Nepal by Butwal Power Company Limited (BPCL) and Lamjung Electricity Development Company Ltd. (LEDCO).