Tue, Oct 2, 2018 10:39 AM
Aankhu Khola Hydropower Company Limited is issuing 13.76 lakh unit shares as its Initial Public Offering (IPO) for the general public from Ashwin 23rd, 2075. Out of 13.76 lakh units, 12 lakh units were reserved for general public and the remaining 1.76 lakh units were unsubscribed when it issued IPO to the project-affected locals.
The issue will last till Ashwin 26th, 2075 and under the different condition, the last date could extend till Kartik 6th 2075.
Out of the total offering, 27,520 units have been allocated for the employees of the hydropower company and 68,801 units have been allocated for mutual funds. The remaining 12.79 lakhs units is being issued for the general public.
Interested applicants can apply for a minimum of 50 units and for a maximum of 6,000 units of the shares. Applications can be placed through any of the financial institutions providing ASBA services.
Civil Capital Market has been appointed as the issue manager for the IPO.
ICRA Nepal has assigned Grade 5 rating to the IPO which indicates poor fundamentals of the company.
Ankhukhola Hydropower had planned to issue a total of 20 lakhs unit IPO shares to the public and it has already issued 8 lakh unit shares as IPO to the locals of the project affected area of Dhading district.
Out of 8 lakhs unit IPO to the locals, 1.76 lakhs remain unsold and the unsold shares have been added to the IPO for the general public to make it 13.79 lakhs unit.
The company is at present operating 8,400KW Aankhu Khola -1 hydro-electric project, located in Salyankot and Marpak VDCs of Dhading District in Central Nepal.