The company started issuing IPO to the general public from January 23.
The company allocated 10 percent of issued capital i.e. 2.1 million units of shares worth Rs 210 million to the general public. out of the total allocated units, the company issued 210,000 units to foreign migrated workers, 105,000 units to mutual funds and 42,000 units to employees. The remaining 1,743,000 will be issued to the general public.
The interested investors can apply for a minimum of 10 and maximum of 50,000 units of shares. They can apply from all ASBA approved BFIs and mershare.
The company has appointed Sanima Capital as its issue manager.
ICRA Nepal has assigned BB rating to the issue indicating moderate risk.
The company is developing 44MW Super Madi Jalvidhyut in Madi River of Kaski District. The estimated cost of the project is 8.35 bilion and per MW cost of the project is 189.7 million. Although the company aimed for commercial production from June 11, 2021, it could not meet the deadline due to COVID-19 and floods and landslides. The payback period of the project is 6.28 years and discounted payback period is 11.10 years.
