Greenlife Hydropower Limited will be issuing 18,00,000 units shares as Initial Public Offering (IPO) for the locals of Dolkha district from Magh 22. The application can be placed till Falgun 07, 2075.
The hydropower company is issuing 30% i.e. 5,40,000 units for the locals of Gaurishankar Rural Municipality ward no. 7, 40% i.e. 7,20,000 units for the locals of Gaurishankar Rural Municipality ward no. 5, ward no. 6, ward no. 8 and 9 and remaining 30% i.e. 5,40,000 units for the locals of Gaurishankar Village Municipality ward no 1 and 2 and ward no 3 and 4 along with locals of Bigu Village Municipality ward no 4.
Applications can be placed for minimum 20 units and maximum 9,000 units.
Application forms can be collected and submitted in the following institutions:
- Greenlife Hydropower Limited
- Century Commercial Bank Limited, Singati
- Century Commercial Bank, Charikot
- Prime Commercial Bank, Jiri
- Prime Commercial Bank. Baiteshwor
Kathmandu Capital Market Limited has been appointed as the issue manager for the IPO issuance.
Care Ratings Nepal has assigned Grade 4 rating to the IPO issuance indicating below average fundamentals.
The hydropower company has been operating Khani Khola 1 Hydropower Project in Marbu VDC of Dolakha District.
After the issuance to locals, the hydropower company will be issuing 18 lakh unit shares as IPO for the general public as well.
Currently, the paid up capital of the hydropower company stands at Rs 1.44 arba which will reach Rs 1.80 arba after issuance of IPO to both locals and general public. With this, the promoter-public shareholding ratio will be maintained at 80:20.