The company is issuing 10 percent of its issue capital worth Rs 542.5 million to locals of the affected area from February 22. Accordingly, the company is issuing 542,583 units of shares worth Rs 54.2 million to locals of the affected area. Out of the total offered units, the company is issuing 271,292 units to locals of the affected area of Siddhakali, Siddhapokhari and Mawadin VDC and the remaining 271,291 units to the remaining areas of Sankhuwasava District.
Interested investors can apply for a minimum of 10 and maximum of 10,000 units of shares.
Care Ratings Nepal has assigned BB rating to the issue indicating average risks.
The company is developing Upper Piluwa Khola 2 Hydropower Project with a total estimated cost of Rs 1.31 billion and per MW cost of Rs 279.4 million.
The payback period of the project is 9.64 years and discounted payback period is 27.36 years. Its license will end in 28 years.
The company has appointed NIC Asia Capital as its issue manager. The interested investors can apply from the project area, Madi Municipality ward no 7, Waga, Chainpur Rural municipality ward no 3, Tinkhore and Red Cross building as well as designated branches of NIC Asia Bank, Global IME Bank and Nepal SBI Bank. The locals of affected area required to pay Rs 2 per application form.
