Tue, Feb 5, 2019 1:31 PM
Securities Exchange Board of Nepal has given final approval to IPO issuance of Himalaya Urja Bikas Company Limited for the general public.
The hydropower company is set to issue IPO worth Rs.14.85 Crore for the general public. This issue makes up 15% of the capital.
Nabil Investment Banking Limited is the issue manager for the IPO issuance.
ICRA Nepal had assigned Grade 4 rating to the IPO issue of Himalayan Urja which indicates below average fundamentals.
Recently, the company had completed the allotment of IPO issued to the locals of Ramechhap district. For the offered 9.90 Lakh units, the issue received a total of 7,040 applicants who had applied for almost 12 Lakh units of shares.
The authorized capital of the Company is Rs.99 crore & issued capital is Rs.47 crore. It was converted into public limited company on 17th Kartik, 2071.
The company has been constructing a 12MW hydropower project which has an estimated cost of Rs 3.14 arba where the company has adopted 75:25 debt equity ratio. The Per Megawatt cost of the Company is Rs 16.55 crore.