Union Hydropower to issue 7,50,000 units IPO shares to the project affected locals of Lamjung and Kaski district from today

Union Hydropower is issuing Initial Public Offering (IPO) to the locals of Lamjung district from Shrawan 14, 2075 i.e. today. The issue of 7,50,000 unit shares will last till Shrawan 28, 2075.

Interest locals can apply for a minimum of 50 units and maximum of 3,000 units of shares for a par value of Rs 100. The applicants can present their application in the designated collection centres. The applicants cannot place their applicants through Meroshare website.

ICRA Nepal has assigned Grade 4 rating to the IPO issue which indicates poor fundamentals.

After the issuance of IPO for the locals the hydropower company will be issuing 29,12,500 unit shares as IPO for the general public.

Laxmi Capital has been appointed as the issue manager for the IPO issuance.

Union Hydropower has been constructing a 3.3 MW Midim Khola Project. It has also received approval for construction of 23 MW Mewa Khola Project.

The following are the collection centers for the IPO issuance:

1. Civil Bank Limited, Maling, Lamjung
2. Civil Bank Limited, Besisahar, Lamjung
3. Civil Bank Limited, Gauda, Lamjung
4. Civil Bank Limited, Bhulbhule, Lamjung
5. Civil Bank Limited, Rainas, Lamjung
6. Kailash Bikas Bank Limited, Bhorletar, Lamjung
7. Global IME Bank Limited, Bhorletar, Lamjung
8. Kamana Sewa Bikas Bank, Duipiple, Lamjung
9. Om Development Bank, Bhoteodar, Lamjung
10. Om Development Bank, Besisahar, Lamjung
11. Laxmi Laghubitta Bittiya Sanstha Limited
12. Sunrise Bank Limited, Besisahar, Kathmandu
13. Office of Union Hydropower Limited, Madhya Nepal Municipality