Solu Hydropower started issuing initial public offering (IPO) to the foreign migrated workers from November 23.
The company obtained approval of issuing 20 percent ordinary shares of its issued capital of Rs 10 billion to the general public. Out of total approved units, the company is issuing 10 percent from general public quota i.e. 1 million units to foreign migrated workers of Nepal.
Interested investors can apply for a minimum of 10 and maximum of 100,000 units of shares.
Infomerics Credit Rating Nepal has assigned BB rating to the issuer indicating moderate risks.
The company is developing 82MW Lower Solu Jalvidhyut Aayojana at an estimated total cost of Rs 16.30 billion. The estimated per MW cost is Rs 198.8 million. The licensed period of the project is 25 years. The payback period of the project is 7.68 years and discounted payback period is 12.09 years.
The company has appointed Nabil Banking Investment as issue manager. The foreign migrated workers can apply from all C-ASBA approved BFIs and Meroshare.
