The company is issuing 30 percent shares of issued capital worth Rs 570 million. Accordingly, it will issue 1,410,000 million units of shares worth Rs 141 million to the general public.
Out of the total approved units, the company is issuing 470,000 units worth Rs 47 million to the locals of affected area. Out of the shares allocated to locals of affected area, the company will issue 50 percent i.e. 235,000 units to the most affected area of ward on 7 and 8 of Khjidemba Rural Municipality, Okhaldhunga District. Similarly, it will issue 30 percent i.e. 141,000 to moderate affected area of ward no 2 of Likhupike Rural Municipality, Solukhumbu District and ward no 3 of Umakunda Rural Municipality of Ramechap District. Likewise, it will issue the remaining 20 percent i.e. 97,000 units to ward no 2 of Umakunda Rural Municipality, and ward no 1 of Gokulgnaga Rural Municpality of Ramechap District.
Moreover, the company will also issue 10 percent of general public quota i.e. 94,000 units shares worth Rs 940,000 to foreign migrated workers.
Interested investors can apply for a minimum of 10 and maximum of 47,000 units of shares for locals of affected area and 94,000 units for foreign migrated workers of Nepal. The issue will close early on March 9 and lately on March 24 for locals of affected area. For the foreign migrated workers, the issue will close early on February 26 and lately on March 9.
Care Rating Nepal has assigned BB-rating to the issuer indicating moderate risks.
The company has appointed Himalayan Capital as issue manager. The interested local investors can apply project area of Apollo Hydropower-Okhaldunga, Laxmi Sunrise Bank- Kinja (Okhaldhunga), Shivalaya and Priti (Ramechap) branch office, Nepal Investment Bank-Khimjidemba (Okhaldhunga) and Citizens International Bank-Likhupike (Okhaldunga) branch.
Meanwhile, the foreign migrated workers can apply from all C-ASBA approved BFIs and Meroshare.
