Locals IPO of Nyadi Hydropower Limited Oversubscribed Over 1.44 Times

Sun, Aug 29, 2021 10:53 AM on Latest, IPO/FPO News,

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. 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, 9,112 applicants have applied for a total of 21,69,123 units. This is the data as of Bhadra 11. Thus, the locals IPO is subscribed more than 1.44 times. 

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.

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