SEBON approves 17.25 lakh units IPO shares of United Modi Hydropower

United Modi Hydropower Limited has received approval from the Securities Board of Nepal (SEBON) to float its Initial Public Offering (IPO). United Modi Hydropower will be floating IPO of 17.25 lakh units share worth Rs 17.25 crore to general public. NIBL Capital Market Limited will be the issue manager of the same. Earlier, United Modi Hydropower had issued 11,50,000 unit shares worth Rs 11.50 crore as part of its Initial Public Offering (IPO) at face value of Rs 100 for the locals of project affected people of Parbat district from Bhadra 26, 2073 to Ashwin 9, 2073. ICRA Nepal has assigned an “[ICRANP] IPO Grade 3”, indicating average fundamentals to the proposed Initial Public Offering (IPO) of United Modi Hydropower Limited. United Modi Hydropower is developing 10 MW Lower 1 and 10.5 MW Lower 2 Modi Hydropower Project at Parbat district.