IPO for General Public: Super Khudi Hydropower Limited to Issue 12,86,500 Units IPO Shares from Falgun 4

Super Khudi Hydropower Limited will open its Initial Public Offering (IPO) to the general public on 4th Falgun, 2082. The company is issuing 12,86,500 unit shares at a par value of Rs. 100 per units. The early closing date for the IPO is the 10th Falgun, 2082, but if the issue is not fully subscribed by then, the deadline will be extended to the 19th Falgun, 2082.

The issued capital of the company is Rs. 1.55 Arba. Of this, 20%, i.e., 31,00,000 unit shares, will be issued to the public. Out of the total issue capital, 10%, which amounts to 15,50,000 unit shares worth Rs. 15.50 Crores, were already allotted to the project-affected locals of Lamjung districts. The remaining 10% of the issued capital, i.e., 15,50,000 unit shares, are for the general public. Of this general public issue, 10% of 15,50,000, a total of 1,55,000 unit shares, were already allotted to the Nepalese citizens working abroad.

Of the general public issue, 2%, i.e., 31,000 units, have been set aside for the company's employees, and 5% of the total offered shares, i.e., 77,500 units, have been reserved for mutual funds. The remaining 12,86,500 units will be issued for the general public and will be opened on the 4th Falgun.

Global IME Capital Limited has been appointed as the issue manager for the IPO issuance. Applications could be placed for a minimum of 10 units and a maximum of 1,00,000 units.

CARE Ratings Nepal Limited (CRNL) has reaffirmed the issuer rating of `CARE-NP BB (Is)’ assigned to Super Khudi Hydropower Limited (SKHL). Issuers with this rating are considered to offer a moderate risk of default regarding the timely servicing of financial obligations in Nepal.CRNL has also reaffirmed the rating of ‘CARE-NP BB’ assigned to the long-term bank facilities. Also, CRNL has assigned the rating of ‘CARE-NP A4’ to the short-term bank facilities of SKHL.

Super Khudi Hydropower Limited (SKHL) is a public limited company incorporated on December 17, 2008, for setting up a26 MW (amended from 21.21 MW) run-of-river Upper Khudi Hydropower Project (UKHP) in Marshyangdi Rural Municipality of Lamjung District. The project is constructed under the BOOT model (Build, Own, Operate, and Transfer).