Sikles Hydropower’s IPO Closing Date Extends to Bhadra 05 For Project Affected People of Kaski District

Fri, Aug 5, 2022 10:39 AM on Latest, Dividend, Bonus & Rights,

Sikles Hydropower Limited (SLHL) has extended the deadline for the IPO issue for locals of Kaski districts (Madi VDC Ward no. 1, 2 and 3).

The company has been issuing 8,50,000 shares worth Rs. 8.5 crores at a par value of Rs. 100 per share for the project affected locals from Shrawan 06 and was supposed to conclude today i.e Shrawan 20, 2079. However, due to the under subscription, the deadline has been extended till 5th Bhadra, 2079. 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. This will raise the paid up capital of the company to Rs. 85 crores after the IPO allotment.

BOK Capital Market is appointed as the issue manager for the IPO issuance. 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.

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.