Hydropower companies under "Citizens' Hydropower Project" to issue IPO without credit rating; SEBON issues formal notice

Securities Board of Nepal (SEBON) has issued a notice informing that the companies issuing Initial Public Offering (IPO) under the "Citizens' Hydropower Project" will be allowed to proceed with any credit rating.

This scheme was introduced by the government to involve citizens' investment in hydro sector with an ambition to make all Nepalis shareholder of Hydropower.

The first company to issue IPO under this provision is Trishuli Hydropower company. It has applied to issue IPO of 37.5 lakh unit shares.

Global IME Capital is the issue manager.

Under this provision, you can acquire shares by paying only 10% of the share value and the remaining 90% will be payable when the project is 75% complete.