United Modi Hydropower 17.25 lakh units IPO shares added in SEBON pipeline for approval

Wed, Nov 23, 2016 11:51 AM on Latest, IPO/FPO News, Featured, Stock Market,
United Modi Hydropower Limited has been added in Securities Board of Nepal (SEBON) Initital Public Offering (IPO) pipeline. The Hydropower company will be floating 17.25 lakh units IPO shares worth Rs 17.25 crore i.e. 15% of the paid up capital as a part of IPO for the general public and staff of United Modi hydropower. NIBL Capital Market Limited has been appointed as the issue manager for the IPO. United Modi Hydropower had issued 11,50,000 unit shares worth Rs 11.50 crore as part of its Initial Public Offering (IPO) at face value of Rs 100 for the locals of project affected people of Parbat district from Bhadra 26, 2073 till Ashwin 9, 2073. United Modi Hydropower is developing 10 MW Lower 1 and 10.5 MW Lower 2 Modi Hydropower Project at Parbat district. United Modi Hydropower has already completed Lower Modi-1 and it was connected to National Grid in the year 2069. 10 MW Lower Modi-1 is situated at Parbat district. The company has plans to move forward with Lower Modi-2 Hydroelectricity project with the help of the district people of the project area and the general public.  Lower Modi is 10.5 MW project.