Are You Eligible to Apply for Terhathum Power Company's Locals IPO? These Extra Collection Centers Have Been Added for Your Convenience
Fri, Jul 23, 2021 2:23 PM on Latest, IPO/FPO News,
Terhathum Power Company Limited has added additional collection centers for its ongoing IPO issue to locals.
Terhathum Power Company Limited has been issuing its 4,00,000 unit IPO shares to the project-affected locals of Terhathum District from Shrawan 5. The issue will conclude on Shrawan 19, 2078. If not subscribed fully, the issue can be extended to Bhadra 2, 2078. The interested locals can place their applications for a minimum of 10 units and a maximum of 60,000 units.
NIBL Ace Capital Limited has been appointed as the issue manager for the IPO issuance.
The company has 4,000,000 registered shares of which 1,200,000 shares will be issued to the public. This is 30% of the company's paid-up capital. SEBON approved the proposal on Ashad 10, 2078.
Out of the total 12 lakh units, 4 lakh will be issued to the locals of the project affected area and the rest 20% i.e. 8 lakh units to the general public.
The list of the added collection centers can be accessed here:
After the IPO is issued in two phases, first to locals and then to the public, the promoter: public shareholding ratio of the company will be 70:30, and paid-up capital will be Rs 40 crore.
The IPO proceeds have been planned to be utilized towards the development of the 7.5-MW Upper Khorunga Small Hydropower Project. ICRA Nepal has assigned a rating of [ICRANP] IPO Grade 4+ to the proposed IPO of Terhathum Power Company Limited (TPCL), indicating below-average fundamentals.
Incorporated on August 16, 2009, as a private limited company, Terhathum Power Company Limited (TPCL) was converted to a public limited company on June 21, 2018. The paid-up capital of the company as of mid-July 2019 was NPR 280 million, which is 100% promoter held. After the proposed IPO, the same would reach NPR 400 million and would be held in a ratio of 70:30 by the promoters and the public. The major shareholders include Mr. Mohan Kumar Dangi (8%), Mr. Bhupati Lal Shrestha (4%), Mr. Ganesh Prasad Kattel (4%), Mr. Pramod Shrestha (3%), Mr. Bijay Sambhample (3%), Mr. Dharma Raj Khadka (3%), Mr. Lachhuman Tiwari (3%), Mr. Shiva Nath Khapung (3%), Mr. Bhawani Prasad Khapung (3%), Mr. Yadav Khapung (2%) and Mr. Mohit Dangi (2%). The rest of the ~65% shares are held by 275 individual shareholders.
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