Himal Dolakha Extends IPO Deadline

Jul 14, 2019 01:08 PM Merolagani

Himal Dolakha Hydropower has extended the deadline of initial public offering (IPO) till August 9. As per Global IME Capital, issue manager of the company, the IPO has been subscribed by merely 24.02 percent till Sunday, July 14.

As per the issue manager, a total of 39,347 applicants have applied for 1,845,970 units of primarly shares.

 Himal Dolakha Hydropower started issuing IPO worth Rs 767.2 million to the general public from July 10.

The company is issuing 7,672,000 units of primary shares in the second phase that includes 1,472,000 units of unsubscribed shares of the previous offering issued to locals of the affected area of Illam.

Out of the total offering, the company has allocated 153,000 to employees and 25,000 to mutual funds. The remaining 7,493,000 units will be issued to the general public.

The interested investors can apply for a minimum of 10 to a maximum of 100,000 units of shares from all C-ASBA approved BFIs and through meroshare software.

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.

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