IPO Proposal of Super Khudi Hydropower Approved by SEBON

The Securities Board of Nepal (SEBON) has granted the Initial Public Offering (IPO) proposal of Super Khudi Hydropower Limited (SKHL). The approval was issued on Poush 06, 2082.

According to the approved proposal, the company will issue a total of 31,00,000 shares to the general public. The shares will be offered at a par value of Rs. 100 per unit.

Global IME Capital Limited has been appointed the issue manager for the public offering.

CARE Ratings Nepal Limited (CRNL) has reaffirmed the issuer rating of `CARE-NP BB (Is)’ assigned to Super Khudi Hydropower Limited (SKHL). Issuers with this rating are considered to offer moderate risk of default regarding timely servicing of financial obligations, in Nepal.CRNL has also reaffirmed the rating of ‘CARE-NP BB’ assigned to the long-term bank facilities. Also, CRNL has assigned the rating of ‘CARE-NP A4’ to the short-term bank facilities of SKHL.

Super Khudi Hydropower Limited (SKHL) is a public limited company incorporated on December 17, 2008 for setting up a26 MW (amended from 21.21 MW) run-of-river Upper Khudi Hydropower Project (UKHP) in Marshyangdi Rural Municipality of Lamjung District. The project is constructed under BOOT model (Build, Own, Operate and Transfer).