Himal Dolakha Hydropower Reopens IPO Issuance

Aug 11, 2019 01:03 PM Merolagani

Himal Dolakha Hydropower (HIMAL) has reopened its IPO issuance after the first issue went undersubscribed. The company reopened the issue for promoter, directors and for individuals associated with the company.  

The previous issue was subscribed by just 43.26 percent. The company is issuing 4,343,580 units of primary shares to the promoters and directors of the company.

The issue is applicable by shareholders, directors and their nuclear families, chief executive, company secretary and employees directly associated with the company.

 As per Global IME Capital, issue manager of the company, the issue will open from August 11-13.

a total of 72,000 applicants have applied for 3.2 million units of shares till August 8. The IPO is still undersubscribed by 4.4 million units of shares.

Previously,  Himal Dolakha Hydropower issued 7,672,000 units of primary shares worth Rs 767.2 million to the general public from July 10-August 9.

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

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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