Do Not Forget: Last Day to Apply for IPO of Terhathum Power Company
Sun, Aug 29, 2021 10:39 AM on IPO/FPO News, Latest,
Terhathum Power Company Limited is closing the IPO issue of 8,00,000 units shares today. The issue had opened on Bhadra 9.
Out of the offered 8,00,000 units; 2% of the total offered shares to the general public i.e. 16,000 units have been set aside for the employees of the company and 5% for mutual funds. The remaining 7,44,000 units are for the general public.
The interested investors 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.
Out of the total 1,200,000 units, 4 lakh is already issued to the locals of the project affected area and the rest 20% i.e. 8 lakh units will be issued to the general public.
Terhathum Power Company Limited Allots IPO Shares to Locals of Project-Affected Area
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.
