Shiva Shree Hydropower invites application from the general public for its 3.35 Million units IPO; issue opens today

Shiva Shree Hydropower Limited is issuing 3,351,140 units (including 1,136,540 units unsubscribed by locals) IPO shares to the general public from Ashwin 16, 2076 i.e. today. The early closing date of this IPO issue is Ashwin 24, 2076 and if the issue is not subscribed till Ashwin 24 then this issue can be extended up to Kartik 15, 2076.

The paid up capital of the company after the IPO will be Rs.1.47 Arba. After the issuance of IPO, the promoter shareholders will be holding 75% while the project affected locals will hold 2.31% and the ordinary shareholders will hold 22.69% stake.

268,091 units which have been reserved for the employees and mutual funds.

Applications can be place for minimum 10 units and maximum 1,000,000 units. Siddhartha Capital Limited is appointed as the issue manager for the IPO issuance.

CARE Nepal had assigned Grade 4 rating to the IPO issuance indicating below average fundamentals.

Currently, it has been developing ‘Upper Chaku Hydroelectric Project’ of capacity 22.2 MW located at Sindhupalchowk district of Nepal. Per megawatt cost is Rs.22.45 Crore and total cost of project is Rs.4.98 Arba. The normal payback period of project is 9.59 years and discounted payback period is 21.95 years.