Kutheli Bukhari Small Hydropower Issuing IPO to Locals of Dolakha District and Nepalese Employed Abroad from Jestha 19

Kutheli Bukhari Small Hydropower Limited has published an offer letter to issue an Initial Public Offering (IPO) to the project-affected locals of Dolakha District and Nepalese citizens working abroad.

The IPO issue for the locals and Nepalese citizens working abroad will open on 19th Jestha to 1st Ashad, 2080. Note that for the locals of Dolakha District, if the issue is not subscribed by the early closing date, the issue can be extended till the 17th Ashad. However, the issue will be extended beyond the early closing date for Nepalese citizens working abroad.

The issued capital of the company is Rs. 12.18 Crores of which 10% i.e. 121,868 unit shares worth Rs. 1.21 crores have been allocated to project-affected locals of Dolakha District.

Meanwhile, 10% of the company's issued capital i.e. 121,867 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 12,186 units shares have been allocated for Nepalese citizens working abroad, the issue of which will open on the date mentioned above.

The minimum application quantity to be applied for both project-affected locals and Nepalese citizens working abroad is 10 units while the maximum quantity is 1,000 units.

NMB Capital Limited has been appointed as the issue manager. The promoter-public share ratio will be 80: 20 after this IPO.

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.

Offer Letter