Taksar Pikhuwa Khola Hydropwer Limited Issuing IPO Shares to Locals of Bhojpur District And Nepalese Employed Abroad From Falgun 27

Taksar Pikhuwa Khola Hydropower Limited has published an offer letter to issue an Initial Public Offering (IPO) to the project-affected locals of Bhojpur District and Nepalese citizens working abroad.

The IPO issue for the locals of Bhojpur District will open from 27th Falgun to 11th Chaitra, 2082, with a possible extension till Chaitra 26 if not fully subscribed by the early closing date, while for Nepalese citizens working abroad, the issue will open from 27th Falgun to 01 Chaitra, 2082, and may be extended till Chaitra 11 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, will be allocated 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, 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., 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 later.

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

Prabhu Capital Limited has been appointed the issue manager for the public offering.

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 moderate risk of default regarding timely servicing of financial obligations, in Nepal.

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