Daramkhola Hydro Energy Limited is set to finalize the offering of 24,23,185 units of IPO shares, valued at a nominal Rs 100, starting today, the 19th Shrawan, 2082. This offering was initially opened to the general public on the 15th of Shrawan, 2082.
The company’s issued capital totals Rs. 1.03 Arba, of which 38.33%, or 39,50,000 unit shares, are being made available to the public. From the overall public offering, 10%, equating to 10,30,500 unit shares worth 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 issued capital, which consists of 29,19,500 unit shares, is now open for general public subscription. Of this public offering, 10%, translating to 2,91,950 unit shares, is designated for Nepalese citizens employed overseas. Additionally, 2% of the general public offering, amounting to 58,390 units, has been reserved for the employees of the company, while 5% of the total offered shares, approximately 1,45,975 units, is allocated for mutual funds. The remaining 24,23,185 units will now be available to the public, closing today.
LS Capital has been designated as the issue manager for this IPO. Investors can submit applications for a minimum of 10 units and a maximum of 50,000 units.
According to CDSC, 17,72,278 applicants have expressed interest for a total of 2,13,77,140 units, resulting in an oversubscription rate of 8.82 times.
Infomerics Credit Rating Nepal Limited has reaffirmed a Double B Minus (IRN BB-) issuer rating for long-term banking facilities amounting to NPR 1,400 million, alongside an A Four (IRN A4) rating for short-term banking facilities valued at NPR 1,235 million.
Daram Khola Hydroelectric Limited, established in December 2015, operates as a public limited company responsible for the development of a 9.6 MW hydro project in Baglung, Nepal. This project encompasses a catchment area of 247 km² and a design discharge of 10.30 m³/s, prominently promoted by local stakeholders, with Mr. Nar Bahadur Pun (Niraj) serving as chairman.
