IPO for General Public: Taksar Pikhuwa Khola Hydropower Limited Issue 25,15,455 Units IPO Shares from Today

Taksar Pikhuwa Khola Hydropower Limited has officially opened its Initial Public Offering (IPO) to the general public from 23rd Baishakh, 2083, issuing 25,15,455 shares at a face value of Rs. 100 per unit. The IPO was initially scheduled to close on 28th Baishakh, 2083, with a provision to extend the deadline to 6th Jestha, 2083 if undersubscribed.

The issued capital of the company is Rs. 1.20 arba. Of this, 35.26%, i.e., 42,30,668 unit shares, will be issued to the public. Out of the total issue capital, 10%, which amounts to 12,00,000 unit shares worth Rs. 12 Crores, were allotted to project-affected locals of Bhojpur district. The remaining 25.26% of the issued capital, i.e., 30,30,668 unit shares, will be offered to the general public. Of this general public issue, 10%, a total of 3,03,067 unit shares, were allotted to Nepalese citizens working abroad.

Of the general public issue, 2%, i.e., 60,613 units, have been set aside for the company's employees, and 5% of the total offered shares, i.e., 1,51,533 units, have been reserved for mutual funds. The remaining 25,15,455 units will be issued for the general public and opened from today.

Muktinath Capital Limited has been appointed the issue manager for the public offering. Applications could be placed for a minimum of 10 units and a maximum of 50,000 units.

CARE Ratings Nepal Limited (CRNL) has reaffirmed the issuer rating of `CARE-NP BB+ (Is)’ assigned to Taksar Pikhuwa Khola Hydropower Limited (TPKH). Issuers with this rating are considered to offer a moderate risk of default regarding the timely servicing of financial obligations in Nepal.

Taksar Pikhuwa Khola Hydro Power Limited (TPKH) is a public company, incorporated on April 23, 2014, as a private company, which was converted into a public limited company on September 29, 2021. It is promoted by individual promoters from different backgrounds for setting up of an 8 MW run- of-river, Taksar Pikhuwa Khola Hydropower Project (TPKHP) in Bhojpur district of Nepal.