Nyadi Hydropower IPO: Nyadi hydropower Limited has opened the sale of ordinary shares to the public from today.
The company has brought in 2.25 million units for initial public offering (IPO) at a face value of Rs 100 per unit, equivalent to Rs 225 million.
Out of the ordinary shares to be issued by the company, five percent or one lakh 12 thousand 500 shares have been distributed to the collective investment fund and two percent or 45 thousand shares have been secured to the employees. The general public will be able to apply for the purchase of the remaining 2 million 92 thousand 500 shares from banking time today.
The general public will be able to apply for a minimum of 10 to a maximum of 50,000 lots in the issued shares till October 5 (Ashwin 19). It is mentioned in the statement that if the application is not received as demanded by that period, the eviction will be open by October 17 (Ashwin 31st). (Nyadi Hydropower IPO)
The company is currently constructing a total of 30 MW Nyadi Hydropower Project in Marshyangdi Municipality of Lamjung. The total estimated cost of the project will be Rs. 6 billion 117.7 million 55 thousand 55.
The general public will be able to apply for shares from all banks and financial institutions and their branch offices that have been given permission by the Nepal Securities Board to provide CISWA facilities. Global IME Capital, the issuer and sales manager of the company, said that one can also apply online using ‘Mero Share’.
Care Rating Nepal has given the company ‘CareNP BB Issuer’ grading as per the provision of reading during the public issue of securities. According to the rating, the current state of the company indicates that there is an average risk in its ability to bear liability.