Nepal Hydro Developer’s 3.90 lakh units IPO shares for general public in SEBON pipeline

Nepal Hydro Developer Limited has been added in Securities Board of Nepal (SEBON) pipeline to seek approval for the issuance of 3.90 lakh units IPO shares for general public. NMB Capital Limited has been assigned as the issue manager. The hydropower company is seeking approval to issue a total of 3,90,000 units IPO shares at a par value of Rs 100 per unit to the general public (including its staffs). ICRA Nepal has assigned “IPO Grade 4” to the issue, indicating below average fundamentals. Nepal Hydro Developer Limited has developed a 3.52 MW Charanwati Hydroelectic project in Dolakha district with an annual energy generation of 37.29 GWhr. It had earlier floated 2,60,000 units shares worth Rs 2.60 crore as part of its Initial Public Offering for the locals of Dolakha district from Mangsir 26 to Poush 11, 2073. After this IPO, its paid up capital will reach Rs 26 crore with promoter – people of the affected area (Dolakha district) – public shareholding structure at 75% - 10% - 15%.