9.9 lakhs unit IPO share of Himalayan Urja for the project affected locals of Ramechhap district from today; Company profit to reach Rs 36 crore by 2077
Tue, Oct 23, 2018 10:56 AM on IPO/FPO News, Stock Market, Featured,
Himalayan Urja Bikas Company Limited is issuing 9.9 Lakhs unit IPO shares to the locals of project affected area of Ramechhap district from Kartik 6th (Today) 2075.
Interested investors can apply for the minimum of 50 units shares and at maximum, an investor can apply for 4900 units of IPO shares.
The company is set to issue IPO worth Rs 24.75 Crore. After the issuance to locals, remaining IPO of worth Rs 14.85 Crore (14.85 Lakhs unit IPO shares) will be issued to the general public.
Nabil Investment Banking Limited is the issue manager for the IPO issuance.
Collection center for the issue are
- Himalayan Urja Bikash Company, Gokulganga-1,Ramechhap
- Siddhartha Bank Limited,Gokulganga Branch,Gokulganga,Ramechhap.
- Prime Commercial Bank Limited, Jiri Branch, Linken Bazaar,Jiri.
- Century Commercial Bank, Jiri Branch, Linkan Bazaar, Jiri.
- NMB Bank Limited, Kirne Sakha, Kirne Dolakha.
ICRA Nepal had assigned Grade 4 rating to the IPO issue of Himalayan Urja which indicates below average fundamentals.
The authorized capital of the Company is Rs.99 crore & issued capital is Rs.47 crore. It was converted into public limited company on 17th Kartik, 2071.
The company has been constructing a 12MW hydropower project which has an estimated cost of Rs 3.14 arba where the company has adopted 75:25 debt equity ratio.
Net worth of the company is Rs 97.58 in this fiscal year and it is estimated that the Net worth will reach Rs 136 by 2077/78.
The company is currently at the loss of 1.79 crore and the estimated profit in the year 2077/78 is Rs Rs 36.24 crore.
The Per Megawatt cost of the Company is Rs 16.55 crore.
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