The company is issuing the IPO to locals of affected area and government approved foreign migrated workers of Nepal.
The company will issue 10 percent ordinary shares of its issued capital worth Rs 500 million to the locals. Based on this, a total of 500,000 units of shares will be issued to the locals. Out of the total offered units, the company will allot 40 percent i.e. 200,000 units to most affected locals and 60 percent i.e. 300,000 units to other areas of Illam District.
Similarly, it will issue 50,000 units of shares to the foreign migrated workers.
The interested investors can apply for a minimum of 10 and maximum of 20,000 units for locals.
The deadline of the IPO is December 21, however, upon undersubscription, the locals of affected area can apply till January 5.
ICRA Nepal has assigned BBB- rating to the issue indicating moderate risks.
The company has appointed Sanima Capital as its issue manager. The investors locals can apply from designated branches of Goodwill Finance, Machhapuchchhre Bank, Sanima Bank and office of SuperMai Hydropower. Meanwhile, the foreign migrated workers can apply from all C-ASBA approved BFIs.
Supermai Hydropower is developing 7.8 MW Supermai Hydropower Project. The per MW cost of the project is Rs 190.8 million while the total cost of the project is Rs 1.48 billion. The project is generating energy from 2075 kartk 11.
The payback period of the project is 5.79 years whereas the discounted payback period is 7.27 years.
