Daramkhola Hydro Energy Limited is set to launch its Initial Public Offering (IPO) for the wider community on the 15th of Shrawan, 2082. The firm is releasing 24,23,185 unit shares with a par value of Rs. 100 each. The IPO is scheduled to close early on the 19th Shrawan, 2082, but if subscriptions are insufficient by that date, the closing will be postponed to the 29th of Shrawan, 2082.
The company’s issued capital stands at Rs. 1.03 Arba. From this, 38.33%, which is 39,50,000 unit shares, will be made available to the public. Out of the overall public offering, 10%, translating to 10,30,500 unit shares valued at Rs. 10.30 Crores, has already been allocated to locals impacted by the project in Gulmi and Baglung districts.
The remaining 28.33% of the issued capital, equating to 29,19,500 unit shares, will now be presented to the general public. From this public offering, 10% or 2,91,950 unit shares are designated for Nepalese citizens residing abroad. Additionally, 2%, which is 58,390 units, have been reserved for the company’s employees, while 5% of the total available shares, amounting to 1,45,975 units, are earmarked for mutual funds. The balance of 24,23,185 units will be accessible to the general public starting on the 15th Shrawan.
LS Capital has been appointed as the manager for the IPO issuance. Investors can apply for a minimum of 10 units and a maximum of 50,000 units.
Infomerics Credit Rating Nepal Limited has reaffirmed a Double B Minus (IRN BB-) rating for long-term bank facilities totaling NPR 1,400 million and an A Four (IRN A4) rating for short-term bank facilities amounting to NPR 1,235 million.
Daram Khola Hydroelectric Limited, formed in December 2015, operates as a public limited company developing a 9.6 MW hydroelectric project in Baglung, Nepal. The initiative boasts a 247 km² catchment area and a design discharge of 10.30 m³/s. It is primarily championed by local stakeholders, with Mr. Nar Bahadur Pun (Niraj) acting as chairman.
