Sikles Hydropower to Issue 8,50,000 Unit Shares to the Locals of Kaski District from Shrawan 06

Sikles Hydropower Limited (SLHL) has published an offer letter to issue its IPO to the project affected locals of the Kaski districts (Madi VDC Ward no. 1, 2 and 3). The IPO issue for the locals will open on Shrawan 06, and close on Shrawan 20, 2079. If not subscribed by the early closing date, the issue will close on 5th Bhadra.

8,50,000 unit shares will be issued at a par value of Rs. 100 per share. This is 10% of the company's issued capital Rs. 85 crore. If the local's issue is not subscribed fully, the remnant shares will be issued along with the allocated quantity for the public issue. Locals of Madi VDC ward no. 1, 2 and 3 of Kaski District can apply for a minimum of 10 shares to a maximum of 1,00,000 shares. This will raise the paid up capital of the company to Rs. 85 crores after the IPO allotment. After the IPO Promoter - Public share ratio would be 76.47 : 23.43.

BOK Capital Market has been appointed as the issue manager.

CARE Ratings Nepal Limited (CRNL) has assigned Issuer rating of ‘CARE-NP BB+ (Is) [Double B Plus (Issuer Rating)]’ to Sikles Hydropower Limited (SLHL). Issuers with this rating is considered to have moderate degree of safety regarding timely servicing of financial obligations, in Nepal

Sikles Hydropower Limited (SLHL) is a public limited company, incorporated in July 28, 2004 as a private limited company and later converted to public limited company in May 17, 2019. The company is setting up 13MW run-of-the-river Madkyu Khola Hydroelectric Project (MKHP) at Kaski District of Nepal. The project came into a commercial operation since April 2, 2018. The project is constructed under BOOT (Build, own, Operate and Transfer) mechanism.

Offer Letter