Api Power to issue IPO to locals of Darchula and Baitadi district from today

ShareSansar, February 2:

Api Hydro Power Company Limited will float its Initial Public Offering (IPO) to the project-affected local residents from today.

Api Hydro Power Company Limited has stated that altogether 10,00,000 units of primary shares will be floated to the locals of Baitadi and Darchula district at the face value of Rs 100 per unit.

The issue to be managed by NIBL Capital Limited will close on Falgun 24, or by Falgun 4 at the latest.

Earlier, this IPO of Api Power Company Limited has received Grade 3 rating from ICRA Nepal, indicating the company’s average fundamentals. ICRA Nepal assigns IPO grading on a scale of 1 (strong) to 5 (poor).

Api Power Company Ltd was established in B.S 2060 Ashad 5th (19th June 2003) as private limited company being subsidiary of South Asia Engineering Pvt. Ltd under Company Act 2053.