Vision Lumbini Urja Company IPO Closing From Today For Nepalese Employed Abroad; Deadline Extended for Locals Till Ashwin 17

Tue, Sep 19, 2023 8:40 AM on Latest, IPO/FPO News,

Vision Lumbini Urja Company Limited is closing the issue of its IPO to the Nepalese citizens working abroad from today i.e. 2nd Ashwin, 2080, and has extended the IPO issue deadline for project-affected locals of Kaski District till the 17th Ashwin. The issue had opened on 19th Bhadra, 2080.

The issued capital of the company is Rs. 1.91 Arba of which 10% i.e. 19,12,500 unit shares worth Rs. 19.12 Crores have been allocated to project-affected locals of Kaski District. Meanwhile, 10% of the company's issued capital i.e. 19,12,500 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 191,250 units shares have been allocated for Nepalese citizens working abroad, the issue of which will close today.

For the project-affected locals, the minimum application quantity to be applied is 10 units while the maximum quantity is 380,000 units whereas for the Nepalese citizens working abroad, the minimum application quantity to be applied is 10 units and the maximum quantity is 19,120 units.

Muktinath Capital Limited is appointed as the issue manager.

According to CDSC, 30,677 applications have been received through Nepalese citizens working abroad for a total of 809,450 units so far.

ICRA Nepal has reaffirmed the long-term rating of [ICRANP] LBB- (pronounced ICRA NP L double B minus) to Vision Lumbini Urja Company Limited’s long-term loan limits and also reaffirmed the short-term rating of [ICRANP] A4 (pronounced ICRA NP A four) to its short-term loan limits.

Vision Lumbini Urja Company Limited is developing a 25-MW Seti Nadi Hydroelectric Project in the Machhapuchchhre rural municipality of Kaski District, Gandaki Province of Nepal. The project is a run-of-the-river (R-o-R) type and is being developed at a 44.5% probability of exceedance.