The company is issuing 2 percent of its issued capital to the locals of affected areas. Accordingly it is issuing 272,730 units of shares at Rs 206 including face value of Rs 100 and premium of Rs 106. Locals of affected areas of ward no 1 and 2 of Bagmati Rural Municipality of Lalitpur District, ward no 5,6,7 and 8 of Bhimfedi Rural Municipality and ward no 3 of Indra Sarobar Rural Municipality of Makwanpur District can apply for the shares.
Moreover, the company is issuing 10 percent of general public quota i.e. 136,364 units to foreign migrated workers at Rs 206 per unit.
Interested investors can apply for a minimum of 10 and maximum of 50,000 units of shares.
The issue will close on July 27 however the deadline will be extended till August 11 for locals of affected area if the issue goes undersubscribed.
ICRA Nepal has assigned BBB- rating to the issuer indicating moderate risks.
The company is promoting 22 MW Bagmati Small Hydropower Project with an total cost of Rs 4.01 billion and per MW cost of Rs 187.7 million.
The payback period of the project is 11.96 years and discounted payback period of 13.96 years. its license period end in 26 years and 3 months.
The company has appointed Prabhu Capital as issue manager. The locals of affected areas can apply from the project site and designated branches of Kumari Bank, Prabhu Bank and Prabhu capital.
Moreover, the foreign migrated workers can apply from all C-ASBA approved BFIs and Meroshare.
