Shiva Shree Hydropower's IPO to the project-affected locals of Sindhupalchowk closes today; IPO will add Rs 1.476 arba to capital
Fri, Feb 1, 2019 11:58 AM on Financial Analysis, Latest, Stock Market,
The IPO of Shiva Shree Hydropower Limited (SSHL) to the project-affected local residents of Sindhupalchowk district closes today i.e. 18th of Magh, 2075.
Siddhartha Capital Limited has been appointed as the issue manager for the IPO issuance.
According to the latest update from the officials at Siddharth Capital, more than 3 lakh applications have been received from 1,482 applicants applying for approximately 66% of the total issue.
ICRA Nepal has assigned Grade 4 rating to the IPO issuance indicating below average fundamentals.
The minimum applications can be placed for 50 units and maximum 7,380 units.
After issuance to the locals, the hydropower company will also be floating 2,214,600 shares for the general public and staff. After the issuance of the shares to both locals and the general public, the paid-up capital of the company will reach Rs 1.476 arba. Promoter and public shareholding would be 75:25 ratio.
Currently, it has been developing ‘Upper Chaku Hydroelectric Project’ of capacity 22.2 MW located at Sindhupalchowk district of Nepal. The per megawatt cost of the project has been estimated at Rs 16.50 crore.
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