Dolti Power Company Allotted IPO Shares to Project-affected Locals of Dailekh District on Chaitra 20

Dolti Power Company Limited has allotted IPO shares to the project-affected locals of Dailekh District. The allotment program concluded on 20th Chaitra, 2079.

The issued capital of the company is Rs. 53.64 Crores of which 10% i.e. 536,486 unit shares worth Rs. 5.36 crores were allocated to project-affected locals of Dailekh District. Meanwhile, 20% of the company's issued capital i.e. 10,72,972 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 107,298 units shares were allocated for Nepalese citizens working abroad. The issue had opened on 8th Falgun, 2079.

As per the notice published today, the company hereby informs that the issued units have been allotted to the valid applicants on 20th Chaitra, 2079.

The IPO result can be viewed on the official site of https://iporesult.cdsc.com.np/ 

NIC Asia Capital Limited was appointed as the issue manager.

ICRA Nepal has assigned an issuer rating of [ICRANP-IR] BB (pronounced ICRA NP issuer rating double B) to Dolti Power Company Limited. Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations

Dolti Power Company Limited was incorporated on April 7, 2013, as a private limited company, and was later converted into a public limited company on July 15, 2021. DPCL operates a 4.5-MW Padam Khola run-of-river (R-o-R) HPP, in the Dailekh district of Karnali province of Nepal, at a Q40 probability of exceedance and a design discharge of 2.27m3/s. The project began commercial operations on December 24, 2019, against the RCOD of February 20, 2021, and was developed at a total cost of ~NPR 1,101 million (~NPR 245 million per MW) funded in a debt-equity ratio of ~66:34.

Allotment Notice