Asian Hydropower has released a notice about issuing 6,97,200 units of IPO Shares on Magh 27. An offer letter for Asian Hydropower Limited’s initial public offering has been made available to the public (IPO).

Notice Date: February 11, 2023

Asian Hydropower has issued a face value of Rs 100 from the 27th Magh. The corporation will issue around 6,97,200 unit shares. Through this IPO, the company seeks to raise Rs 6.97 crore. Even though the early closing date for this issue is on the second Falgun, if the problem is not subscribed, it may be extended until Falgun 12, 2079.

Asian Hydropower is issuing 6,97,200 units of IPO Shares from on Magh 27.

About:- Asian Hydropower Limited

The private limited firm Asian Hydropower Ltd. was founded on May 5, 2016, and on July 10, 2019, it underwent a conversion to become a public limited company. Using the “BOOT”, (Build, Own, Operate, and Transfer) concept, the 6.2 MW run-of-river Lower Jogmai Hydropower Project (LJHP) in Nepal’s Illam district is being developed by private businesspeople with various backgrounds and institutional investors. On November 1, 2021, the project officially launched.

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More about Asian Hydropower is issuing 6,97,200 units of IPO Shares from on Magh 27

Of the 840,000 units, 10%, or 84,000, have already been released and distributed to Nepalese citizens working abroad. Of the total offered shares, 2%, or 16,800 units, are designated for firm employees, while 5%, or 42,000 units, are set for mutual funds. There are still 6,97,200 units available for general public purchase. The company’s paid-up capital will be 34 crore rupees after the IPO.

The corporation earlier distributed 3,40,000 units of shares valued at Rs. 3.4 crore to locals impacted by the project and 84,000 units of shares to Nepalese nationals working overseas. Promoter stockholders hold 65.29% of the equity of the corporation.

The issue manager for the IPO has been chosen, and her name is NMB Capital Ltd. In an application, a minimum of 10 units and a maximum of 20,000 units may be sought. CARE Ratings Nepal Limited has assigned Asian Hydropower Limited the issuer rating of “CARE-NP BB (Is)” (CRNL).

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