As per the company, it is closing the issue following the oversubscription of the shares.
The company is issuing the IPO to locals of affected areas from January 18.The company is issuing 10 percent shares of its issued capital which is 3,332,500 units of shares worth Rs 333.2 million to locals of the affected area. Out of which,40 percent i.e. 1,333,000 units will be issued to ward no 1,2,9 and 10 of Fungling Municipality, ward no 1 of Fuctanglung Rural municipality, ward no 1 and 2 of Bhikkakhola Rural municipality, ward no 2 and 3 of Maringden Rural municipality, ward no 5 of Aathrai Tribeni Rural municipality and ward no 1 of Maiwakhola Rural municipality. Similarly, it will issue the remaining 60 percent i.e. 1,999,500 to residents of Taplejung District.
Interested investors can apply for a minimum of 10 and a maximum of 20,000 units of shares.
Care Ratings Nepal has assigned BB rating to the issue indicating huge risk.
The company has appointed Sanima Capital as issue manager. The locals can apply from hydropower’s office, SAnima Bank, Laxmi Bank, Global IME Bank and Sunrise Bank by paying Rs 2 per form.
