Asian Hydropower Limited will go public on Mangsir 27, 2079. The company is about to launch an initial public offering (IPO) for local residents of project-affected areas and Nepalis working abroad. The company is about to issue 340,000 ordinary shares for Rs. 100 per share, representing 10% of its issued capital of Rs. Ilam Municipality Ward No. 10, Mai Jogmai Rural Municipality Ward Nos. 3 and 4, and Suryodaya Municipality Ward No. 4 are the most affected by the project. There are 136,000 shares for local residents of 11 and the remaining 204,000 shares for residents of the Ilam district other than the highly affected areas.
Furthermore, of the 840,000 ordinary shares worth 84 million rupees to be issued to the general public, 10%, or 84,000 ordinary shares, will be issued to Nepalis working abroad after obtaining labor approval from the relevant Government of Nepal agencies.
You can apply for a minimum of 10 shares and a maximum of 20,000 shares. The deadline for local residents in the project’s affected area is January 12th at the earliest and January 27th at the latest. Nepalese working abroad should apply before January 12th.
In the rating for the IPO, Care Rating Nepal assigned the company a Care NP Double B Issuer Rating. This indicates that the company’s ability to meet its obligations is at moderate risk. The company’s 6.2 MW Lower Jogmai Khola Hydropower Project began commercial production on October 15, 2078. The project costs 1 Arab 39 crores 15 lakh 30 thousand rupees. The project costs 29 crores, 15 lakh 37 thousand 97 rupees per megawatt. The project’s normal investment payback period is 7.09 years, while the discounted payback period is 11.83 years.
The company’s issuing and selling manager is NMB Capital Limited. Local residents can apply at designated NMB Bank, Civil Bank, Prime Commercial Bank, and Global IME Bank branches, as well as all banks and financial institutions with C-ASBA membership from the Nepal Securities Board and their branch offices. Nepalese working abroad can apply online using My Share through the CASBA system at all ASBA member banks and financial institutions, designated branch offices, and CDS & Clearing Limited.