IPO to Locals of Nyadi Hydropower Limited Subscribed More than 50%

Nyadi Hydropower Limited has been issuing its 15,00,000 unit IPO shares to the project-affected locals of Lamjung District and 3,00,000 units IPO shares to the employees of promoters institutions from Bhadra 1, 2078.

The IPO issue for locals is open from Bhadra 1 - 15. If unsubscribed, the issue can be extended to Bhadra 30, 2078. The interested locals and employees of the promoter institutions can place their applications for a minimum of 10 units and a maximum of 50,000 units.

Global IME Capital Limited has been appointed as the issue manager and NMB Captial Limited is the co-issue manager for the IPO issuance. According to the issue manager, 3,122 applicants have applied for a total of 7,54,390 units. This is the data as of Bhadra 08. Thus, the locals IPO is subscribed more than 50.29%, 

After the IPO is issued in two phases, first to locals and employees of the promoter institutions and then to the general public, the promoter: public shareholding ratio of the company will be 73:27, and paid-up capital will be Rs 1.5 Arba.

CARE Ratings Nepal Limited (CRNL) has assigned an Issuer rating of ‘CARE-NP BBB – (Is) [Pronounced triple B Minus (Issuer Rating)]’ to Ngadi Group Power Limited. Issuers with this rating are considered to have a moderate degree of safety regarding timely servicing of financial obligations, in Nepal.

Nyadi Hydropower Limited is a public company, incorporated on March 1, 2007. It is promoted by Butwal Power Company Limited (BPCL) and Lamjung Electricity Development Company Ltd. (LEDCO) for setting up a 30 MW run-of-river, Nyadi Hydropower Project (NHP) in Marshyangdi Municipality, Lamjung district of Nepal.

Click here for IPO Offer Letter: