IPO issue for general public worth Rs.33.51 Crore of Shiva Shree Hydropower added under preliminary review by SEBON; includes 1,136,540 units of shares unsubscribed by locals

Tue, Apr 2, 2019 1:22 PM on External Media, IPO/FPO News, Latest,

Shiva Shree Hydropower Limited is looking to raise capital worth Rs.33.51 Crore through issue of 3,351,140 units of shares at par value to the general public.

In the latest list of IPO pipeline published by Securities Exchange Board of Nepal (SEBON), the board has added the proposed IPO issue of the hydropower company under preliminary review.

Siddhartha Capital Limited has been appointed as the issue manager for the IPO issuance.

The hydropower company had issued 1,476,400 units as Initial Public Offering (IPO) for the locals of Sindhupalchowk district from Poush 27, 2075 till Magh 11, 2075. Out of the total issue only 339,860 units were subscribed by the valid applicants. The remaining 1,136,540 units were added to the issue for the general public.

The paid up capital after IPO issue will be Rs.147.64 crores, whereas the promoter-public share structure will be 75-25 ratio.

Currently, it has been developing ‘Upper Chaku Hydroelectric Project’ of capacity 22.2 MW located at Sindhupalchowk district of Nepal. The per megawatt cost of the project has been estimated as Rs.16.50 Crore.