White Lotus Power Limited is currently undertaking a public share issuance (IPO). To facilitate this, the company has filed an application with the Securities Board of Nepal (SEBON) on Ashad 31, 2082 BS. It is only after receiving approval from the regulatory authority SEBON that the company can offer shares to the public.
If granted the green light by SEBON, the company intends to offer 12.19 lakh unit shares at a nominal value of Rs. 100 during the public sale. Consequently, the total public offering amounts to Rs. 12.19 crores.
The company has designated Nepal SBI Merchant Banking Limited as its issue and sales manager. The agreement for the public offering was formalized between White Lotus Power Limited and Nepal SBI Merchant Banking Limited. The agreement was signed by Suman Kumari Joshi, Chairman of White Lotus Power Limited, and Lekhnath Pokharel, CEO of Nepal SBI Merchant Banking.
In the initial phase, the company will offer shares to the residents of the project-affected areas. Similarly, in the subsequent phase, the hydropower entity will make shares available to the general public, including company employees and mutual fund schemes.
Established on January 28, 2018, as a private limited company, White Lotus Power Limited transitioned into a public limited company on September 23, 2021.
The company is presently engaged in the development of the Hidi Khola Hydropower Project located in the Lamjung district. This project employs a run-of-river design with a total installed capacity of 6.82 MW.
The projected cost of the project is Rs. 132.70 crores, resulting in a per-megawatt cost of Rs. 19.50 crores.
The primary promoters of the company are as follows:
—Kriti Venture Fund Ltd.,
—White Lotus Management Pvt. Ltd.,
—All Bright Holdings Pvt. Ltd.,
—Shikhar Insurance Ltd.,
—Citizen Life Insurance Ltd.,
—Pratap Jung Pandey, among others.
