The Securities Exchange Board of Nepal (SEBON) has approved the proposed IPO issue of Kutheli Bukhari Small Hydropower Limited on Jestha 02, 2080.
The company will now issue 243,675 equity shares at a par value of NPR 100 each. The amount of the issue is Rs. 2.43 Crore. This is 20% of the company's issued capital. The total paid-up capital after the IPO allotment would be Rs 12.18 Crores of the company.
NMB Capital Limited has been appointed as the issue manager for the proposed IPO issuance.
ICRA Nepal has reaffirmed the issuer rating of Kutheli Bukhari Small Hydropower Limited at [ICRANPIR] BBB- (pronounced ICRA NP Issuer Rating Triple B minus), indicating a moderate degree of safety regarding the timely servicing of financial obligations.
Kutheli Bukhari Small Hydropower Ltd. was incorporated on August 11, 2011, as a private limited company and was converted to a public limited company on January 28, 2015, to facilitate public participation. The company is operating a 0.998-MW Suspa Bukhari Khola Small HPP in the Dolakha district, Madhesh Province of Nepal. It is a run-of-the-river (R-o-R) type project with a 40% probability of exceedance (Q40). The project started commercial operation on September 20, 2015, and was developed at a total cost of ~NPR 248 million.