Daramkhola Hydro Energy Limited Closing IPO Shares to Locals of Gulmi & Baglung District And Nepalese Employed Abroad From Today

Daramkhola Hydro Energy Limited is closing the issue of its IPO shares to the project-affected locals of Gulmi and Baglung district, IPO for foreign Nepalese Immigrants today, the 23rd Ashadh, 2082. The issue opened on the 9th Ashadh, 2082.

The issued capital of the company is Rs. 1.03 Arba. Of this, 38.33%, i.e., 39,50,000 unit shares, will be issued to the public. Out of the total public issue, 10%, which amounts to 10,30,500 unit shares worth Rs. 10.30 Crores, will be allocated to project-affected locals of Gulmi and Baglung districts. The remaining 28.33% of the issued capital, i.e., 29,19,500 unit shares, will be offered to the general public at a later date.

Of this general public issue, 10%, a total of 2,91,950 unit shares, have been set aside for Nepalese citizens working abroad, and the issue for this category will open on the date mentioned above. Of the general public issue, 2%, i.e., 58,390 units, have been set aside for the employees of the company, and 5% of the total offered shares, i.e., 1,45,975 units, have been set aside for the mutual funds. The remaining 24,23,185 units are for the general public, which will open later.

For the project-affected locals, the minimum application quantity to be applied is 10 units, while the maximum quantity is 50,000 units. For Nepalese citizens working abroad, the minimum application quantity to be applied is 10 units, and the maximum quantity is 10,000 units.

LS Capital Limited has been appointed as the issue manager for the IPO issuance.

Infomerics Credit Rating Nepal Limited has reaffirmed a Double B Minus (IRN BB-) issuer rating for long-term bank facilities worth NPR 1,400 million, and an A Four (IRN A4) rating for short-term bank facilities worth NPR 1,235 million.

Daram Khola Hydroelectric Limited, established in December 2015, is a public limited company developing a 9.6 MW hydro project in Baglung, Nepal. The project has a 247 km² catchment area and a 10.30 m³/s design discharge. It is primarily promoted by local individuals, with Mr. Nar Bahadur Pun (Niraj) serving as chairman.

Closing Notice