Last day to grab 4.10 lakh unit IPO shares of Radhi Bidyut for local resident of Lamjung District; issue collects approximately Rs 2.50 crore from 300 applicants

Radhi Bidyut Company Limited has been issuing 4,10,000 unit shares worth Rs 4.10 crore as part of its Initial Public Offering (IPO) for the locals of project affected area of Lamjung district (2,46,000 units to the most affected local people of Marsyangdi Gaupalika Ward No. 5 and 1,64,000 units for less affected local people of Marsyangdi Gaupalika Ward No. 4) from Baisakh 5, 2074. Today is the last day of the IPO. As per the notice published by the company, the IPO is closing today before the end of banking hours. As per the official of Nabil Investment Banking Limited “The IPO has collected approximately Rs 2.50 crore from around 300 application forms.” Interested people must apply for a minimum of 50 units of share and they can apply for up to 4,000 units of share. Nabil Investment Banking Limited is the issue manager. ICRA Nepal has assigned an [ICRANP] IPO Grade 3 rating to this IPO, indicating average fundamentals. The authorized capital of company is Rs 1.50 arba.  The paid up capital of the company remains at Rs 30.75 crore. After the IPO for the locals of project affected area, the paid up capital will reach Rs 34.85 crore. After the IPO for locals of project affected area, the company will be floating 6,15,000 units shares worth Rs 6.15 crore as a part of IPO for the general public. Its paid up capital will then reach Rs 41 crore. After the IPO, the promoter – people of affected area (Lamjung district) – public shareholding structure of the company will be 75% – 10% – 15%. Radhi Bidyut Company has earned net profit of Rs 4.74 crore in the last fiscal year 2072/73. It operates a 4.4 MW Radhi Small Hydropower Project in Lamjung district that has been generating electricity since Jestha 31, 2071 and is connected to the national grid.