IPO Issue of Daramkhola Hydro Energy Limited Closing Today; Oversubscribed 8.82 Times So Far

Daramkhola Hydro Energy Limited is closing the issue of 24,23,185 units of IPO shares at a par value of Rs 100 from today, the 19th Shrawan, 2082. The issue was opened for the general public on 15th Shrawan, 2082.

The issued capital of the company is Rs. 1.03 Arba. Of this, 38.33%, i.e., 39,50,000 unit shares, are being issued to the public. Out of the total public issue, 10%, which amounts to 10,30,500 unit shares worth Rs. 10.30 Crores, has already been issued to project-affected locals of Gulmi and Baglung districts.

The remaining 28.33% of the issued capital, i.e., 29,19,500 unit shares, will now be offered to the general public. Of this general public issue, 10% of 2,91,950 unit shares have been issued for Nepalese citizens working abroad. Of the general public issue, 2%, i.e., 58,390 units, have been set aside for the company's employees, and 5% of the total offered shares, i.e., 1,45,975 units, have been set aside for the mutual funds. The remaining 24,23,185 units are for the general public, which will be closed from today.

LS Capital 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 50,000 units.

According to CDSC, 17,72,278 applicants have applied for a total of 2,13,77,140 units. Thus, the issue has been oversubscribed by 8.82 times.

Infomerics Credit Rating Nepal Limited has reaffirmed a Double B Minus (IRN BB-) issuer rating for long-term bank facilities worth NPR 1,400 million, and an A Four (IRN A4) rating for short-term bank facilities worth NPR 1,235 million.

Daram Khola Hydroelectric Limited, established in December 2015, is a public limited company developing a 9.6 MW hydro project in Baglung, Nepal. The project has a 247 km² catchment area and a 10.30 m³/s design discharge. It is primarily promoted by local individuals, with Mr. Nar Bahadur Pun (Niraj) serving as chairman.

Closing Notice: