Sebon approves Dibyaswori Hydropower IPO worth Rs 3.96 crore; offer letter within 10 days

Dibyaswori Hydropower Company Limited has received final approval from Securities Board of Nepal (SEBON) to issue Initial Public Offering (IPO) worth Rs 3.96 crore. As per the official of SEBON, “We have approved the IPO of Dibyaswori Hydropower today.” Dibyaswori Hydropower will be issuing Initial Public Offering (IPO) worth Rs 3.96 crore (3, 90,000 lakh unit shares) to general public. Ace Capital Limited has been assigned as the issue manager for the IPO. As per the official of Ace Capital Limited, “The offer letter will be published within 10 days most probably. Since Sebon has approved the IPO we will further the process as soon as possible” The Hydropower project is situated at Dhupu VDC in Sankhuwasabha. The hydropower project has the capacity of generating 4MW electricity. Recently, Dibyashwari Hydropower had issued 2, 64,000 unit shares worth Rs 2.64 crore IPO   for the locals of Sankhuwasabha district (Dhupu, Syabun, Wana VDC and Chainpur Municipality Ward no. 8,9,11 project affected area). ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below average fundamentals to the proposed IPO of Dibyashwari Hydropower.