IPO for General Public: Upper Hewakhola Hydropower Issuing 15,00,000 units IPO shares from Ashad 24
Tue, Jun 28, 2022 10:18 AM on IPO/FPO News, Latest,
Upper Hewakhola Hydropower Company Limited (UHKHPC) will be issuing 15,00,000 units worth Rs. 15 crore as Initial Public Offering to the general public from Ashad 24, 2079. The early closing date of this issue is on Ashad 28 and if the issue is not fully subscribed then it can be extended up to Shrawan 06, 2079.
Out of the offered 15,00,000 units; 2% of the total offered shares to the general public i.e. 30,000 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 75,000 units have been set aside for the mutual funds. The remaining 13,95,000 units are for the general public.
Applications can be placed for a minimum of 10 units and a maximum of 1,00,000 units.
NMB Capital Limited has been appointed as the issue manager for the IPO issuance.
10% of the capital is already issued and allotted to the locals of Sankhuwasabha district, whereas, 30% is allocated for the general public.
The total capital of the company after the allotment of IPO to the general public will reach Rs 50 crore.
Care Ratings Nepal Limited (CRNL) has revised the issuer rating assigned to UHHCL to ‘CARE-NP BB (Is)’. Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations in Nepal.
Upper Hewakhola Hydropower Company Ltd. is a public company, incorporated as on March 13, 2012 as Upper Hewakhola Hydropower Pvt. Ltd. Later on, it converted to a public company on June 6, 2018. It is promoted by institutional as well as individual promoters from different backgrounds for setting up an 8.5 MW run-of-river Upper Hewakhola Small Hydropower Project under BOOT (Build, Own, Operate and Transfer) model located in the Sankhuwasabha district of Nepal.
