Supermai Hydropower has issued a notice regarding giving IPO shares to residents of the Ilam District and Nepalese Working abroad from Mangsir 21, 2079.
Notice Date: Last updated Dec 4, 2022
Residents of the Illam District whom the project would impact and Nepalese nationals employed overseas have received an offer letter from Supermai Hydropower Limited to participate in a public offering (IPO). Beginning on Mangsir 21 and concluding on Poush 6, 2079, residents and Nepalese nationals working abroad may participate in the first public offering (IPO). Be advised that if the issue is not subscribed to by the early closing date for Illam District residents, it can be extended until the 21st Poush. The matter won’t, however, be raised past the early closing date for Nepalese citizens working abroad.
More about Supermai Hydropower issuing IPO
10%, or 5,00,000 unit shares, worth Rs. 5 crores, have been handed to Illam District citizens who will be affected by the project out of the firm’s Rs. 50 crore issued capital. Additionally, 5,00,000 unit shares, or 10% of the issued capital of the corporation, will eventually be made public. The 50,000 units, or 10% of the shares, are reserved for Nepalese employed overseas. The offering will start on the already designated date.
The minimum and maximum application amounts for project-affected locals and Nepalese nationals working abroad are 10 and 20,000 units, respectively. The promoter-public ratio will be 80:20 following this IPO. This company’s issue manager is Sanima Capital Limited.
Super Mai Hydropower Limited (SMHLissuer) now has a rating from ICRA Nepal that is [ICRANP-IR] BBB- rather than [ICRANP-IR] BB+ (pronounced “ICRA NP issuer rating triple B negative”) (pronounced ICRA NP issuer rating double B plus). Regarding timely debt repayment, issuers with this grade are deemed to have a reasonable level of safety.
Note-
Supermai Hydropower Ltd. manages the 7.8-MW Super Mai HPP in the Ilam region of Province 1 of Nepal. July 2, 2017, founded the public limited business. A 40% chance has been built into the project for it to exceed its run-of-the-river (R-o-R) type. The company has NPR 400 million in paid-up capital as of mid-July 2021.
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