People's Hydropower To Issue Rs 80 crore Worth IPO Soon To The Public; 54 MW Project To Be Built

The IPO proposal for locals and general public of People's Hydropower Limited (PHDCL) is in SEBON's pipeline.

The company has submitted a proposal to the capital market regulator to issue a total of 8,000,000 shares. This will raise Rs. 80 crores for the company.

The application was submitted on Baisakh 12. Sanima Capital has been appointed the issue manager for the public offering.

Peoples Hydropower Company Limited (PHCL) is a Public Limited company, incorporated as on October 9, 2007 as a Peoples Hydropower Company Private Limited and changed to public limited on February 27, 2019. It is promoted by individual promoters from different background and institutional investors for setting up of a 54 MW run-of-river, Super Dordi Hydropower Project Kha (SDHPK) in Lamjung district of Nepal. The project is constructed under BOOT (Build, own, Operate and Transfer) mechanism. As per the Generation License, the project shall be handed, on whatever conditions the project is, to the Government of Nepal after expiry of Generation License, which is 35 years.

Lately, Care Rating Nepal Limited has assigned ‘CARE-NP BB’ to the long term bank facilities and ‘CARE-NP A4’ assigned to the short term bank facilities to the PHDCL.