Daramkhola Hydro Energy Opening IPO Shares to Locals of Gulmi and Baglung District and Nepalese Employed Abroad From Today

Daramkhola Hydro Energy Limited is opening the issue of an Initial Public Offering (IPO) of 10,30,500 units of IPO shares to the project-affected locals of Gulmi and Baglung District and 2,91,950 units of IPO Shares to Foreign Nepalese Immigrants from today, i.e., 9th Ashadh to the 23rd Ashadh, 2082.

Note that for the locals of Gulmi and Baglung District, if the issue is not subscribed by the early closing date, the issue can be extended till Shrawan 6. However, the issue will not be extended to the early closing date for Nepalese citizens working abroad.

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.

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

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