SEBON gives final nod to IPO of Himalayan Urja Bikas Company; IPO worth Rs 9.90 crore to be issued to locals of Ramechhap district

Securities Board of Nepal (SEBON) has provided its final approval to the Initial Public Offering (IPO) of Himalayan Urja Bikas Company.

The company is set to issue IPO worth Rs 24.75 lakh. For the locals of project affected area of Ramechhap district, the company will issue IPO worth Rs 9.90 crore while the remaining IPO worth Rs 14.85 lakh will be issued to the general public.

Nabil Investment Banking Limited is the issue manager for the IPO issuance.

ICRA Nepal had assigned Grade 4 rating to the IPO issue of Himalayan Urja which indicates below average fundamentals.

The authorized capital of the Company is NRs.99 crore & issued capital is Nrs.47 crore.  It was converted into public limited company on 17th Kartik, 2071.

The company has been constructing a 12MW hydropower project which has an estimated cost o fRs 3.14 arba where the company has adopted 75:25 debt equity ratio.