Radhi Bidyut Company issuing 4.10 lakh units IPO shares for the locals of Lamjung district from today
- ShareSansar, April 18, 2017 on Featured , Latest , Stock Market
Radhi Bidyut Company Limited is 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).
The IPO applications opens from today (Baisakh 5, 2074) and close on Baisakh 20, 2074. The maximum closing date for the offer is Jestha 3, 2074 if the offer is not fully subscribed during the earliest closing date.
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.