Dibyashwari Hydropower to issue 3,96,000 unit IPO shares from Ashad 13; Revenue to be generated from beginning of next fiscal year

Dibyashwari  Hydropower Limited will be  issuing 3,96,000 unit shares worth Rs 3.96  crore as part of its initial public offering (IPO) from Ashad 13, 2073 at face value of Rs 100. Ace Capital Limited has been assigned as the issue manager for the IPO issue. The offer will close on Ashad 16, 2073. The company has already  floated  2,64, 000 unit shares worth Rs 2.64 crore to the locals of the project affected areas. Hydropower project is situated at Dhupu VDC in Sankhuwasabha. The hydropower project has the capacity of generating 4 MW electricity. From the beginning of next fiscal year the hydropower project will start generating revenue. ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below average fundamentals to the proposed Initial Public Offering (IPO) of Dibyashwari Hydropower Limited. ICRA Nepal assigns IPO grading on a scale of IPO Grade 1 through IPO Grade 5, with Grade 1 indicating strong fundamentals and Grade 5 indicating poor fundamentals.