IPO for General Public: Peoples Hydropower Issuing 56,06,390 Units IPO Shares from Today
Kathmandu: People’s Hydropower Company Limited is opening its IPO issue and sale from today (25th Kartik). After issuing the IPO for the residents of the project-affected areas, the company is about to issue the IPO for the general public.
The company is going to issue 56 lakh 6 thousand 390 shares with a face value of 100 per share, including the remaining 8 lakh 6 thousand 390 shares after allocating the shares allocated for the residents of the project affected areas.
Out of this, 5 percent i.e. 2 lakh 80 thousand 190 shares have been reserved for the mutual fund, while 3 percent i.e. 1 lakh 68 thousand 190 shares have been reserved for employees. General public can apply for the remaining 51 lakh 57 thousand 880 shares.
Investors will have to apply for the purchase of a minimum of 10 shares and can apply for a maximum of 1 lakh shares. The issue will be closed on 29th Kartik at the earliest, if the complete application is not received by that time, the application deadline will be extended to 09th Mangsir.
Care Rating Nepal has given Care NP Double B Issuer Rating to the company in the rating given for the IPO issue. This indicates that there is moderate risk in the ability to bear the liabilities.
Sanima Capital Limited is the company’s share issue and sales manager. Investors can apply through all CSBA member banks and financial institutions and their designated branch offices and MeroShare website and app, that have received approval from the Nepal Securities Board.
