The company is issuing 30 percent shares of issued capital worth Rs 570 million. Accordingly, it will issue 1,410,000 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 Ramechhap District.
Interested investors can apply for a minimum of 10 and maximum of 47,000 units of shares. The issue will now close on March 24.
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.
