These three companies’ IPO proposals have been approved by SEBON
3 hydropower companies were approved for initial public offerings by Nepal’s Securities Board.
Nyadi Hydropower Limited is issuing 40.50 lakh units of shares through an IPO.
The IPO issue is underwritten by Citizen Investment Trust. An underwriter is a company that promises to buy any unsold shares of an issue.
‘s proposed Initial Public Offer (IPO) has been rated ‘CARE-NP IPO Grade 4’ by CRNL.
27% of the company’s issued capital is available for sale. In the event that the IPO proceeds are successfully completed, the company will have a paid-up capital of Rs. 1.5 Arba. The issue manager has been named Global IME Capital. On Shrawan 11, the board passed the proposal.
Nyadi Hydropower Limited was founded in March 2007 as a public company. Nyadi Hydroelectric Project (NHP) which is being promoted by Butwal Power Company Limited (BPCL) and Lamjung Electricity Development Company Ltd. (LEDCO) is being built in Marshyangdi Municipality in Lamjung district.
, developer of the 86 MW Solu Khola Dudh Koshi hydro project, have also been approved. Those affected by the project and the general public will receive its 1.05 crore units of share.
NIBL led a consortium of nine banks in lending Rs 8.65 Arba to the Solu Khola project, the largest hydroelectric project in Nepal promoted by private power producers.
Floating its IPO worth Rs 1.05 Arba from Rs 3.50 Arba paid-up capital, the hydro project will generate IPO proceeds of Rs 3.50 Arba. The issued capital is 30% of the total. The issue manager has been named NIBL Ace Capital. On Shrawan 14, SEBON approved the proposal.
A regulatory approval has been granted to Buddha Bhumi Nepal Hydro Power Company Limited as well to issue an initial public offering.
has been rated an [ICRANP] IPO Grade 4+ (Pronounced as ICRA NP IPO Grade Four Plus) by ICRA Nepal Limited. Fundamentals are deemed to be below average with instruments with this grade.
An IPO accounts for 30% of a company’s issuance. A number of changes will be made to the company’s paid-up capital after its IPO issue. The issue manager has been appointed as Civil Capital Market. SHAWAN 14 has been approved by SEBON.
The company is working on a hydropower project along the Lower Tadi Khola in Nuwakot District in Nepal’s Province 3.