Reminder: Deadline of IPO for Locals of Eastern Hydropower (EHL) Extended Till Bhadra 28

Eastern Hydropower Limited (EHL) has extended its deadline for its IPO issue for 6,20,000 units shares for project-affected locals of Bhojpur district today.

The company has been issuing a total of 6,20,000 units of shares i.e., 10% of the total issued capital at a par value of Rs. 100 per share from 7th Bhadra and was supposed to conclude today i.e, 21st Bhadra, 2079. However, the deadline has been extended till 28th Bhadra as the issue is not subscribed fully. Locals of the Bhojpur District can apply for a minimum of 10 shares to a maximum of 1,00,000 shares. After the allotment of the IPO shares, the Promoter - Public share ratio would be 80 : 20.

NMB Capital is appointed as the issue manager for the IPO issuance.

CARE Ratings Nepal Limited (CRNL) has revised Issuer rating to ‘CARE-NP B+ (Is)’ to Eastern Hydropower Limited (EHL). Issuers with this rating are considered to have high risk of default regarding timely servicing of financial obligations in Nepal.

Eastern Hydropower Limited (EHL) is a public company, incorporated on August 4, 2017, promoted by institutional as well as individual promoters from different background. It is currently operating a 5 MW Pikhuwa Khola Small Hydropower Project (PKSHP) in run –of –river scheme located at Bhojpur district, Nepal. The project has been constructed under BOOT (Build, own, Operate and Transfer) mechanism.

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