IPO of Union Hydropower to be floated for the locals soon; SEBON approves issuance of 7.50 lakh unit share

SEBON has given its final approval to the Initial Public Offering (IPO) of Union Hydropower Company Limited on Ashadh 14, 2075.

The hydropower company will be issuing 7.50 lakh unit shares for the locals of the project affected area. This is the mandatory issue of 10% made for the locals of the project affected area.

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

ICRA Nepal has assigned Grade 5 rating to the IPO issue which indicates poor fundamentals.

Union Hydropower has been constructing a 3.3 MW Midim Khola Project. It has also received approval for construction of 23 MW Mewa Khola Project.