Shiva Shree Hydropower Limited is issuing 33,51,140 units (including 11,36,540 units unsubscribed by locals) IPO shares to the general public from Ashwin 16, 2076. 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 upto 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.
Sindhupalchowk based Shiva Shree Hydropower allotted to the valid applicants; 77% unsubscribed shares to be issued along with the issue for general public
2,68,091 units which have been reserved for the employees and mutual funds is also issued to general public.
Applications can be place for minimum 10 units and maximum 10,00,000 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. The 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.
Click here for IPO Offer letter: