Last Day to Apply for Locals IPO of Dordi Khola Jal Bidyut (DORDI); Issue Closing Today

Dordi Khola Jal Bidyut Company Limited (DORDI) is concluding its IPO issue of 10,54,260 units shares for the project-affected locals of Lamjung District today at the end of banking hours.

The company has been issuing 10,54,260 shares at a par value of Rs. 100 per share for the project affected locals from 13th Baisakh and was supposed to conclude on 27th Baisakh. However, the issue was not fully subscribed till the early closing date, thus the deadline was extended to today i.e, 5th Jestha, 2079.

Siddhartha Capital is appointed as the issue manager for the IPO issuance.The interested locals can place their applications for a minimum of 10 units and a maximum of 10,00,000 units.

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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