However, today is the last day for foreign migrated workers to apply for the IPO.
The company is issuing 10 percent ordinary shares of its issued capital i.e. 748,400 units of shares worth Rs 74.8 million to locals of affected area from July 30. Out of which it will issue 561,300 units to most affected locals of Solu Dhudhkunda Municipaltiy ward no 3,4,5,6,7 and 8 and 187,100 units to locals of other areas of Solukhumbu District.
Moreover, the company is issuing 10 percent of general public quota i.e. 74,084 units to foreign migrated workers.
Interested investors can apply for a minimum of 10 and maximum of 10,000 units of shares.
ICRA Nepal has assigned BB+ rating to the issue indicating moderate risks.
The company is promoting 9.5 MW Mid Solu Hydropower Project with total estimated cost of Rs 2.08 billion and per MW total estimated cost of Rs 219.3 million.
The payback period of the project is 6.11 years and discounted payback period is 10.87 years.
The company has appointed NIC Asia Capital as issue manager. The locals of affected area can apply from the project site and designated branches of NIC Asia Bank, Laxmi Sunrise Bank, Global IME Bank and Rastriya Banijya Bank by paying Rs 2 per form.
Meanwhile, the foreign migrated workers can apply from all C-ASBA approved BFIs and Meroshare.
