Super Khudi Hydropower Limited Closing IPO Shares to Project-Affected Locals of Lamjung From Today

Super Khudi Hydropower Limited is closing the issue of 15,50,000 units of Initial Public Offering (IPO) shares for project-affected locals of Lamjung District today, 8th Magh, 2082. The IPO had opened on 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, are for the 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, were allotted for the Nepalese citizens working abroad.

For the project-affected locals and Nepalese citizens working abroad, the minimum application quantity to be applied is 10 units, while the maximum quantity is 1,00,000 units.

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 a26 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).