Kathmandu. Today is the last day to apply for the IPO of Darmkhola Hydro Energy Limited. In the first phase, the company issued the IPO for the local residents of the project-affected areas and Nepalis in foreign employment.
The company had received permission to issue 3.95 million units of shares worth Rs 395 million i.e. 38.33 per cent of the issued capital of Rs 1.35 billion. Out of this, 1,030,500 units of ordinary shares worth Rs 103.05 million have been issued to the local residents of the project-affected areas and 291,950 units of ordinary shares worth Rs 29.195 million have been issued and allotted to Nepalis employed abroad after obtaining labour clearance from the concerned agencies of the Government of Nepal.
Similarly, the company has allotted 58,390 units for its employees and 145,975 units for mutual funds.
In the second phase, the company is issuing 2,423,185 units of shares worth Rs 242,318,500 per share to general investors.
Applications can be made for a minimum of 10 units and a maximum of 50,000 units.
Infomerics Credit Rating Nepal has given the company an IRN double B minus issuer rating in the rating for the IPO issue. This indicates that there is an average risk in the company’s ability to bear liabilities.
Laxmi Sunrise Capital Limited is the issue manager of the company. Investors can apply through the C-ASBA system from all C-ASBA member banks and financial institutions and their designated branch offices approved by the Securities Board of Nepal.
