NEPSE has listed IPO of Ghalemdi Hydro; First transaction range set as Rs.100 to Rs.300 for trading

NEPSE has listed 55 lakh units IPO share of Ghalemdi Hydro Limited.

The range for the first transaction of Ghalemdi Hydro Limited (GHL) has been published by NEPSE.

In a notice published, NEPSE mentioned that the open range for the first transaction of the hydropower company has been set at Rs.100 to Rs.300.

The hydropower company had issued 5,50,000 units (10% of the paid up capital) issue for the project affected area – Myagdi district, Annapurna Rural municipality from, Ashadh 22, 2075 till Shrawan 20, 2075; Only 94,230 units were subscribed by the investors. And later 15,33,770 units including (4,55,770 unsubscribed units from the issuance made to the locals of Myagdi district) were issued for the general public from 19th Poush to 23rd Poush, 2075 which was oversubscribed by almost 2.85 times.

Vibor Capital Limited was appointed as the issue manager as well as the share registrar of GHL.

The paid up capital of the company stand at Rs 55 crore after the issuance of IPO for the general public, whereas, promoter- public share structure stood 70.4 – 29.6 after the IPO.

ICRA Nepal had assigned Grade 5 rating to the IPO indicating poor fundamentals.

Ghalemdi Hydro Limited has been developing a 4 MW capacity project located at ward no 7, Narchyang VDC of Myagdi district. The total expected cost of the project is Rs 1.15 arba while the per MW cost is Rs 23 crore.