Super Khudi Hydropower Limited Closing 1,55,000 Units IPO Shares to Foreign Nepalese Immigrants From Today

Super Khudi Hydropower Limited is closing the issue of its IPO for foreign Nepalese Immigrants today, the 25th Poush, 2082. The issue opened on the 22nd Poush, 2082.

The issued capital of the company is Rs. 1.55 Arba. Of this, 20%, i.e., 31,00,000 unit shares, will be issued to the public. Out of the total issue capital, 10%, which amounts to 15,50,000 unit shares worth Rs. 15.50 Crores, will be allocated to project-affected locals of Lamjung districts. The remaining 10% of the issued capital, i.e., 15,50,000 unit shares, will be offered to the general public at a later date.

Of this general public issue, 10% of 15,50,000, a total of 1,55,000 unit shares, have been set aside for Nepalese citizens working abroad, and the issue will close from today.

For Nepalese citizens working abroad, the minimum application quantity is 10 units, while the maximum quantity is 1,00,000 units.

According to CDSC, 69,857 applicants have applied for a total of 10,34,390 units. Thus, the issue has already been oversubscribed 6.67 times.

Global IME Capital Limited has been appointed as the issue manager.

CARE Ratings Nepal Limited (CRNL) has reaffirmed the issuer rating of `CARE-NP BB (Is)’ assigned to Super Khudi Hydropower Limited (SKHL). Issuers with this rating are considered to offer a moderate risk of default regarding the timely servicing of financial obligations in Nepal.CRNL has also reaffirmed the rating of ‘CARE-NP BB’ assigned to the long-term bank facilities. Also, CRNL has assigned the rating of ‘CARE-NP A4’ to the short-term bank facilities of SKHL.

Super Khudi Hydropower Limited (SKHL) is a public limited company incorporated on December 17, 2008, for setting up a 26 MW (amended from 21.21 MW) run-of-river Upper Khudi Hydropower Project (UKHP) in Marshyangdi Rural Municipality of Lamjung District. The project is constructed under the BOOT model (Build, Own, Operate and Transfer).