IPO Opens for Locals of Dordi Khola Jal Bidhyut (DORDI) from Today

Dordi Khola Jal Bidhyut Company Limited (DORDI) is opening its IPO to the project-affected locals of Lamjung District from today i.e 13th Baisakh and concludes on 27th Baisakh, 2079. If unsubscribed, the issue can be extended up to Jestha 11, 2079.

A total of 10,54,260 shares will be issued at a par value of Rs. 100 per share. The interested locals can place their applications for a minimum of 10 units and a maximum of 10,00,000 units.

Siddhartha Capital is appointed as the issue manager for the IPO issuance.

lCRA Nepal Ltd has assigned a double B minus issuer rating [ICRANP-IR] BB- to the company. Companies with this grading are considered to have a moderate risk of default regarding timely servicing of financial obligations.

Dordi Khola Jal Bidyut Company Ltd is a public company incorporated on Falgun 14, 2066 (February 26, 2010) as per Companies Act 2063, Nepal with the objective to develop and invest in hydropower projects. It is currently developing a 12 MW Dordi-1 Hydroelectric Project in Lamjung District and owns its generation license. The project is located in Dordi Gaupalika-6, Lamjung. Its registered office is located at Kathmandu -11, Bluestar Complex, Tripureshor. Lamjung Electricity Development Company Limited (LEDCO) holds 84.95% ownership in the company.

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