SEBON approves 4.10 lakh units IPO of Radhi Bidyut Company for local people

Securities Board of Nepal (SEBON) has provided final approval to Radhi Bidyut Company Limited for the issuance of 4.10 lakh units IPO shares for local people. The hydropower company will be issuing 4,10,000 units shares to the local people of Lamjung district at a face value of Rs 100 per share. Nabil Investment Banking Limited has been assigned as the issue manager for the IPO. ICRA Nepal has assigned IPO Grade 3 to this issue, indicating average fundamentals. After this IPO for local people, Radhi Bidyut Company will be issuing 615,000 units shares to the general public and its staffs. Radhi Bidyut has been operating 4.4MW Radhi Hydroelectricity Project in Radhi river of Lamjung district since June 2014. It plans to invest the IPO proceeds in 10.3 MW Dordi-1 Hydropower project in Lamjung and 11 MW Lower Khare Hydropower project in Dolakha. Radhi Bidyut Company Limited is a subsidiary of CEDB Hydro Fund that owns more than 80% stake. After the IPO for locals and the general public, the promoter – local people of Lamjung district – general public shareholding structure will be 75:10:15.