Unique Hydel Calls AGM on Poush 13, Major Agenda To Issue IPO

Fri, Dec 8, 2023 10:31 AM on Latest, AGM/Special AGM,

Unique Hydel Company Limited has called its 8th AGM on 13th Poush, 2080. The meeting will be held in the Company Registered Office, Dillibazar, Kathmandu, starting at 11:00 a.m. that day.

Among the other agendas, there is an agenda for issuing ordinary shares to the general public.

Furthermore, there is an agenda to endorse the auditor's report with PL statements, financial reports, and cash flow reports, and appoint an auditor for the fiscal year 2080/81.

ICRA Nepal Limited has assigned a [ICRANP] IPO Grade 5 (Pronounced as [ICRANP] IPO Grade Five) to the Rs 22crore Initial Public Offer of Unique Hydel Co. Limited. Instruments with this grading are considered to have poor fundamentals.

ICRA Nepal assigns grading on a scale of Grade 1 through Grade 5, with Grade 1 indicating strong fundamentals and Grade 5 indicating poor fundamentals. For the Grading categories 2, 3 and 4, the sign of + (plus) indicates their relative better position within the Grading categories concerned.

UHCL was incorporated on July 14, 2000, as a private limited company and was subsequently converted into a public limited company on July 17, 2014, to facilitate public participation. UHCL has seven promoters that account for the entire paid-up capital of the company as of now. The major promoters of UHCL include Baramchi Investment Pvt. Ltd. (48.48%), Modi Khola Investment Pvt. Ltd. (45%), Friends of Baramchi Investment Pvt. Ltd. (5.85%). The management plans to use the proposed IPO proceeds to downsize the project loans from banks as well as other project liabilities. The promoter holding after the proposed IPO is expected to dilute to 60%, assuming full subscription. The shares of the company are proposed to be listed in the stock exchange post the proposed IPO.

AGM Notice: