Peoples Hydropower Company Appoints Issue Manager for IPO; How Will It Use This Capital?

Wed, Jan 20, 2021 1:21 PM on Latest, IPO/FPO News,

Peoples Hydropower Company Limited has appointed Sanima Capital as issue manager of its upcoming IPO.

The hydropower company will issue 82.50 lakh unit shares to project-affected locals and the general public. This will raise Rs. 82.50 crores for the company. This capital will be invested in the 54 M.W. Super Dordi Hydroelectric Project 'Kha' that the company is currently constructing.

Super Dordi Hydroelectric Project 'Kha' is a hydropower project to generate electricity from Dordi khola of Lamjung district. 70% of the construction work is already completed. The company expects to have commercial production by Ashoj, 2078 BS.

This IPO will collect 30% of the company's paid-up capital of Rs. 2.75 Arba. Note that the date of the IPO issue isn't declared yet.