The company is issuing 10 percent shares of its issued capital of Rs 800 million to the locals of the affected area.
As per the issue manager, Civil Capital Market, locals of the affected area can apply for a minimum of 50 and a maximum of 4,000 units of shares. However, the locals of affected area have to retain the shares for at least three years from the date of allocation.
The interested investors can apply from following locations.
ICRA Nepal has assigned Grade 5 to the issue indicating below average fundamentals.
Securities Board of Nepal (SEBON) approved IPO of Ankhukhola Jalabidyut Company on July 11. The hydropower company sought approval to issue 25 percent IPO to locals of affected area and general investors from SEBON.
The company is set to issue 2 million units of shares at a face value of Rs 100 per share. After the first phase issuance to locals of affected area, the company will issue second phase IPO of 1.2 million shares worth Rs 120 million to the general public.
Presently, the company has a paid-up capital of Rs 600 million which will reach Rs 800 million after the IPO issuance.
