Himal Dolakha Hydro Starts Issuing IPO

May 28, 2019 Merolagani

Himal Dolakha Hydropower Company has started issuing 1.6 million units of issuing initial public offering (IPO) worth Rs 160 million to locals of affected area of Illam from today, May 28.

In the first phase of IPO issued to locals of affected area of Illam, locals of ward no 9 and 10 of Illam Municipality and ward no 9 of Mai Municipality along with residents of Illam district can apply for the shares.

The company has appointed Global IME Capital as its issue manager for the matter. The interested investors can apply for a minimum of 10 to maximum of 100,000 units of shares.

The investors can apply from Illam branch of Siddhartha Bank, Nepal SBI and Machhapuchchhre Bank, Laxmi Bank at Chowkbazar, Everest Bank at Phikkal, Century Bank at Bhanupath, Global IME Phikkhal and ward no 9 and 10 of Illam Municipality.

Moreover, the IPO is applicable through all C-ASBA approved BFIs. The issue will close early on June 11 and lately on June 28.

Care Nepal has assigned grade 4 for the IPO indicating below average fundamentals.

Himal Dolakha Hydropower is developing 4.5 MW Mai Khola Small Hydropower Project in Godak of Illam and 8 MW Mai Small Cascade Hydropower Project in Illam.

While the Mai Khola Project is being operated, Mai Small Cascade will start operation within a month. According to the company, per megawatt power of both projects will cost Rs 160 million.

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