Joshi Hydropower set to issue 3.71 lakh unit IPO shares from Jestha 08; Issuance for locals of Ilam district to end on Jestha 22

Sun, May 13, 2018 7:19 AM on IPO/FPO News, Latest, Stock Market,
Joshi Hydr...

Joshi Hydropower Development Company Limited will be issuing Initial Public Offering for the locals of the affected area from Jestha 08, 2075.

The hydropower company will be issuing 3,71,400 unit shares for the local residents of ward no 1,3 and 4 of Ilam municipality.The IPO issuance will close on Jestha 22, 2075.

The interested investors can apply for a minimum 50 units of shares while the maximum number of shares they can apply for is 1,800 at par value of Rs 100.

Siddhartha Capital has been appointed as the issue manager for the IPO issuance.

The 3,71,400 unit shares issued are 10% of the total paid up capital of the hydropower company, hence the 7.42 lakh unit shares (30%) are supposed to be issued for the general public as well.

Interested applicants can collect ASBA forms from all ASBA-approved banks around Nepal.

The IPO issuance had received Grade 5 rating from ICRA Nepal indicating poor fundamentals.

The company is at present operating 3,000 KW Upper Puwa-1 HEP, located in Puwa-Mahjuwa VDC of Ilam District in Eastern Nepal.