SEBON provides approval to 14.76 lakh unit IPO of Shiva Shree Hydropower; IPO to be floated for locals of Sindhupalchowk district

Securities Board of Nepal (SEBON) has provided its final nod to the initial public offering (IPO) of Shiva Shree Hydropower Company Limited.

The company has been approved to issue 14,76,400 unit shares as IPO for the locals of Sindhupalchowk district.

Siddhartha Capital has been appointed as the issue manager for the IPO issuance.

After issuance to the locals, the hydropower company will also be floating 2,214,600 shares for the general public and staff.

Icra Nepal has assigned Grade 4 rating to the IPO indicating below average fundamentals.

Currently, it has been developing ‘Upper Chaku Hydroelectric Project’ of capacity 22.2 MW located at Sindhupalchowk district of Nepal.