Asian Hydropower has announced closing its IPO for Residents of the Illam District Affected by the Project. Residents whose applications might adversely affect the project would no longer be considered from 19th Poush 2079, according to Asian Hydropower Limited.

Notice Date: January 17, 2023

The Asian Hydropower IPO has been open since the 27th Mangsir, 2079, and the article was supposed to be published on Poush 12. However, the issue had fewer subscribers at the early closing date. Thus, the deadline was postponed to Poush 19th.

Asian Hydropower IPO Closing for Residents of the Illam District Affected by the Project

More about Asian Hydropower IPO Closing for Residents of the Illam District Affected by the Project

Residents whose homes are impacted by the project and Nepalese nationals working abroad should submit applications in quantities of at least ten and up to 20,000 units. Asian Hydropower Ltd.’s issue manager is NMB Capital Limited.

See also  Asian Hydropower- distributing IPO shares to locals of Ilam and Nepalese living abroad.

Residents of the Ilam District affected by the project have received 10% of the company’s Rs. 34 crore issued capital, or 3,40,000 unit shares worth Rs. 3.4 crore. A later date will see the release of 8,40,000 unit shares, or 24.71% of the company’s outstanding capital, to the general public. Eighty-four thousand units, or 10% of the shares, were set aside for Nepalese people working abroad. The deadline for Nepalese nationals working abroad to submit an IPO also expired on Poush 12.

All about the company: Asian Hydropower IPO

Asian Hydropower Ltd. was incorporated as a private limited company on May 5, 2016. The corporation became a public limited company on July 10, 2019. The Lower Jogmai Hydropower Project (LJHP), which runs a 6.2 MW of-river hydropower project in Nepal’s Illam region, is being built by a group of institutional investors and individual promoters from varied backgrounds.

The company, Asian Hydropower, is built under the “BOOT” (Build, Own, Operate, and Transfer) construction paradigm. The project started turning a profit on November 1, 2021. The power plant uses the head of the Jogmai Khola and draws materials from it (river). The project’s 132.2 km2 catchment area has a 5.70 m3/s design discharge at a flow that is 40% higher than the design flow.

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