The company is issuing 10 percent of its issued capital worth Rs 400 million to locals of affected areas of Bhojpur District, accordingly, it will issue 400,000 units of shares worth Rs 40 million.
Moreover, it will issue 10 percent of general public quota i.e. 80,000 units of shares to the foreign migrated workers.
Interested investors can apply for a minimum of 10 and maximum of 100,000 units for locals and 5,000 units for foreign migrated workers.
The issue will close on August 27 however, the deadline for locals will be extended till September 11 upon undersubscription.
ICRA Nepal has assigned BB- rating to the issuer indicating average risks.
The company is promoting Upper Chirkhwa Hydropower Project with a total estitmated cost of Rs 998 million and per MW total estimated cost of Rs 212.3 million.
The project’s payback period is 7.39 years and discounted payback period is 12.14 years. Its license will end after 28.8 years.
The company has appointed RBB Merchant Banking as issue manager. The locals can apply from designated branches of Nepal Bank and Laxmi Sunrise Bank by paying Rs 2 per form.
Meanwhile, foreign migrated workers can apply from all C-ASBA approved BFIs and Meroshare.
