Himal Dolkha Hydropower Company Limited has closed the issue of 76,72,210 units IPO shares to the general public from Shrawan 24, 2076. This IPO issue was open since Ashad 25, 2076.
The IPO is now open for the Promoter, Directors, their family members, CEO, Auditors and Company secretary as the IPO issue goes under subscribed by general public till the last day. The issue will start from today i.e. Shrawan 26, 2076 till Shrawan 28, 2076.
Out of the offered 76,72,210 units; 1,53,444 units were reserved for the employees of the company and 25,000 units were allotted to mutual funds. The remaining 74,93,766 units were for the general public.
As per the issue manager, till Friday 2 PM, the issue received 73,956 applicants from the general public applying for a total of 3,290,600 units. Almost 44% of the issue was subscribed. The unsubscribed amount will be allotted to the underwriters of the issue in the predetermined ratio. The underwriters of the issue are BOK Capital Limited, NIBL Ace Capital, Laxmi Capital and Nepal Bangladesh Bank Limited.
Care Ratings Nepal Limited (CRNL) has assigned grading of ‘CARE-NP IPO Grade 4’ indicating Below Average Fundamentals.
HDHCL has two run of the river hydropower project under operation, which are 4.55 MW Mai Khola Small Hydropower Project (Project I) and 8MW Mai Small Cascade Hydropower Project (Project II), both are located at Ilam district of Nepal. The projects are constructed under BOOT (Build, Own, Operate and Transfer) mechanism.
Project-I was completed with total cost of Rs 72.50 Crore (Rs.16.10 Crore per MW) which was funded through Debt: Equity of 75.13: 24.87. Project-II was completed with total cost of Rs 1.42 Arba (Rs 17.80 Crore per MW) which was funded through Debt: Equity of 62.82: 37.18.
Mr. Birendra Bahadur Neupane, Mr. Rupemani Raj Bhandari and Ms. are major shareholders of the company. Promoters and public holding will be 51.25 : 48.75 after issue of proposed initial public share.