CEDB Hydro Development Company to float IPO from today; 23.41 lakh unit shares to be available for general investors to grab

CEDB Hydropower Development Company is floating its 25.18 lakh unit shares in IPO to the general public from today ie. Baisakh 17, 2078.

After setting out 2% shares for the employees and 5% for the mutual funds, the hydro developer will be floating 23.41 lakh unit shares to the general public.

The company is currently operating 4.40 MW Radhi Hydro Project and 0.18 MW Syage Khola Hydro Project in Lamjung district whereas is currently constructing 3 more projects. The company is also in the process to begin construction of the 45 MW Kasuwa Project in the Solukhumbu district.

After the capitalization of the IPO shares, the promoter-public shareholding structure of the company will be in a ratio of 70:30. After the IPO, it will have a paid-up capital of Rs 83.94 crore, as per the media statement.

The hydro developer has appointed Sunrise Capital as the issue manager for the IPO which will be closed by Baisakh 21, 2078 at the earliest, as per the media statement.