Himalayan Power Partner expedites IPO process for general public, 21.30 lakh units IPO shares in SEBON pipeline

Himalayan Power Partner Limited (HPPL) has been added in Securities Board of Nepal (SEBON) pipeline to seek approval for the issuance of IPO shares for general public. Himalayan Power Partner is seeking approval to issue 21,30,834 units shares to be floated to the general public (including its staffs). Global IME Capital Limited has been assigned as the issue manager. ICRA Nepal has assigned IPO Grade 4+ to this IPO, indicating below average fundamentals. It had recently allotted 10.65 lakh units IPO shares to the locals of project-affected area in Lamjung district, after which its paid up capital has reached Rs 85.23 crore. After the IPO for general public, its paid up capital will reach Rs 1.06 arba with promoter – locals of project affected area – general public shareholding structure at 70% - 10% - 20%. HPPL is developing a 27 MW Dordi ROR6 hydropower project along Dordi river in Lamjung district. The electricity generated from this project shall be connected to proposed Udipur Hub substation in Lamjung district; some 1.2 km away from the Dordi powerhouse.