Daramkhola Hydro Energy Limited is concluding the offering of its IPO shares to the individuals affected by the project in Gulmi and Baglung districts, with the IPO for foreign Nepalese citizens opening today, the 23rd Ashadh, 2082. The offering commenced on the 9th Ashadh, 2082.
The company’s issued capital stands at Rs. 1.03 Arba. Of this amount, 38.33%, which equates to 39,50,000 unit shares, will be allocated to the public. From the overall public offering, 10%, or 10,30,500 unit shares valued at Rs. 10.30 Crores, will be designated for locals impacted by the project in Gulmi and Baglung districts. The remainder, comprising 28.33% of the issued capital—29,19,500 unit shares—will be available to the general public at a subsequent date.
In the general public offering, 10%, totaling 2,91,950 unit shares, is reserved for Nepalese individuals working overseas, with the opportunity for this demographic opening on the aforementioned date. Additionally, 2% of the general public issue, which amounts to 58,390 units, is allocated for the company’s employees, while 5% of the total shares offered, or 1,45,975 units, is earmarked for mutual funds. The leftover 24,23,185 units are intended for the general public, to be accessible later.
For the locals affected by the project, the minimum quantity for applications is 10 units, while the maximum limit is set at 50,000 units. For Nepalese citizens abroad, the minimum application quantity is also 10 units, with a maximum of 10,000 units.
LS Capital Limited has been appointed to manage the IPO issuance.
Infomerics Credit Rating Nepal Limited has reaffirmed a Double B Minus (IRN BB-) issuer rating for long-term bank facilities amounting to NPR 1,400 million, alongside an A Four (IRN A4) rating for short-term bank facilities valued at NPR 1,235 million.
Daram Khola Hydroelectric Limited, founded in December 2015, is a publicly traded company developing a 9.6 MW hydroelectric project in Baglung, Nepal. This project encompasses a catchment area of 247 km² and features a design discharge of 10.30 m³/s. The initiative is primarily supported by local stakeholders, with Mr. Nar Bahadur Pun (Niraj) acting as chairman.
