Taksar Pikhuwa Khola Hydropower Limited is set to launch its Initial Public Offering (IPO) to the public on the 23rd Baishakh, 2083. The company plans to release 25,15,455 shares at a face value of Rs. 100 per share. The IPO is scheduled to close on the 28th Baishakh, 2083, but if not fully subscribed, the closing date may be extended until the 6th Jestha, 2083.
The company’s issued capital stands at Rs. 1.20 arba. Out of this, 35.26%, or 42,30,668 shares, will be made available to the public. Additionally, 10% of the total capital, equating to 12,00,000 shares valued at Rs. 12 Crores, is reserved for locals affected by the project in the Bhojpur district. The residual 25.26% of issued capital, which totals 30,30,668 shares, will be offered to the general investment community. Among this public offering, 10%, or 3,03,067 shares, will be allocated to Nepalese nationals working overseas.
From the public offering, 2%, corresponding to 60,613 shares, has been earmarked for the company’s staff, while 5% of the overall shares, totaling 1,51,533 shares, has been set aside for mutual funds. The rest of the 25,15,455 shares will become available to the public starting from the aforementioned date.
Muktinath Capital Limited has been designated as the issue manager for this public offering. Investors can apply for a minimum of 10 shares and a maximum of 50,000 shares.
CARE Ratings Nepal Limited (CRNL) has reaffirmed the issuer rating of `CARE-NP BB+ (Is)` assigned to Taksar Pikhuwa Khola Hydropower Limited (TPKH). Companies with this rating are viewed as presenting a moderate risk of default concerning the timely fulfillment of financial responsibilities in Nepal.
Taksar Pikhuwa Khola Hydro Power Limited (TPKH) operates as a public entity, having been established as a private company on April 23, 2014, and transitioned to a public limited company on September 29, 2021. It is backed by a diverse group of individual promoters aiming to develop an 8 MW run-of-the-river Taksar Pikhuwa Khola Hydropower Project (TPKHP) in Bhojpur district, Nepal.
