Daramkhola Hydro Energy Limited has commenced its Initial Public Offering (IPO) to the public starting today, 15th Shrawan, 2082. The firm is releasing a total of 24,23,185 unit shares at a nominal value of Rs. 100 per unit. The early concluding date for the IPO is 19th Shrawan, 2082, but should the issue not be fully subscribed by that date, the deadline will be extended to the 29th of Shrawan, 2082.
The total capital of the company amounts to Rs. 1.03 Arba. Of this, 38.33%, equivalent to 39,50,000 unit shares, is being offered to the public. From the overall public offering, 10%, which totals 10,30,500 unit shares valued at Rs. 10.30 Crores, has already been allocated to locals affected by the project in Gulmi and Baglung districts.
The remaining 28.33% of the total capital, meaning 29,19,500 unit shares, will now be made available to the general public. Within this offering, 10%, or 2,91,950 unit shares, have been designated for Nepalese citizens residing abroad. Additionally, 2%, equating to 58,390 units, have been reserved for the company’s employees. Furthermore, 5% of the total offered shares, which is 1,45,975 units, is allocated for mutual funds. The rest, 24,23,185 units, are available for the general public, which opens today.
LS Capital has been designated as the issue manager for this IPO. Applications can be submitted for a minimum of 10 units and up to 50,000 units.
Infomerics Credit Rating Nepal Limited has reaffirmed a Double B Minus (IRN BB-) issuer rating for long-term bank facilities totaling NPR 1,400 million, along with an A Four (IRN A4) rating for short-term bank facilities amounting to NPR 1,235 million.
Daram Khola Hydroelectric Limited, founded in December 2015, is a public limited company engaged in developing a 9.6 MW hydro project in Baglung, Nepal. The project features a 247 km² catchment area and a design discharge of 10.30 m³/s. It is mainly backed by local individuals, with Mr. Nar Bahadur Pun (Niraj) serving as the chairman
