Radhi Bidhyut 7.64 lakh unit IPO to be floated within Poush first week

Radhi Bidhyut is coming out with Initial Public Offering (IPO) shares of 7,64,550 units shares worth Rs 7.64 crore at par value of Rs 100 per unit to the general public (including its staffs). Securities Board of Nepal (SEBON) had already provided approval to the IPO of Radhi Bidyut Company Limited on Kartik 7, 2074 and still the company has not published offer letter for the IPO. As per the official of Radhi Bidhyut Company, "We will publish offer letter of IPO within 2 or 3 days. Most probably the issue will be open from Poush 2, 2074. Tentatively our target is to float IPO by the first week of Poush.”   It had floated 4,10,000 units IPO shares to the local people of Lamjung district from Baisakh 5 to Jestha 3, 2074. Nabil Investment Banking Limited has been assigned as issue manager for this IPO. Interested applicants can apply through ASBA-approved banks from all 75 districts across the country. Radhi Bidyut Company Limited operates a 4.40 MW Radhi Small Hydropower Project in Lamjung district that has been generating electricity since Jestha 31, 2071 and is connected to the national grid. ICRA Nepal has assigned an [ICRANP] IPO Grade 3 rating to this IPO, indicating average fundamentals. The authorized capital of company is Rs 1.50 arba.  The paid up capital of the company remains at Rs 30.75 crore. After the IPO for the locals of project affected area and for general public, its paid up capital will reach Rs 41 crore. Radhi Bidyut Company has earned net profit of Rs 4.74 crore in the last fiscal year 2072/73. See the list of ASBA member BFIs