Yet another hydropower’s IPO ready for issue; SEBON provides approval to 96.69 lakh units IPO of Universal Power Company

Securities Board of Nepal (SEBON) has provided its final approval to the 96.69 lakh units IPO of Universal Power Company Limited.

The hydropower company will be issuing 21,00,350 units for the locals of the project affected area and 75,61,260 units for the general public.

Siddhartha Capital Limited has been appointed as the issue manager for the issuance of the IPO.

ICRA Nepal had assigned Grade 4 rating to the IPO indicating below average fundamentals.

After the issuance of IPO, the paid-up capital of the hydropower company will reach Rs 2.1 arba with 46% public shareholding.

It is currently developing Tallo Khare Khola Hydropower Project which has installed capacity of 11 MW. The project is located at Dolakha District, Gaurishanker Rural Municipality, ward no-5, 6 and 8. The company owns generation license of the project.