IPO Shares of Ingwa Hydropower Now Listed in NEPSE; What are the Opening Ranges?

60,00,000 unit IPO shares of Ingwa Hydropower Limited have been listed in NEPSE. This includes the shares held by promoters and the quantity issued to the general public and project-affected locals.

The opening range for the first transaction is Rs. 97.29 to Rs. 291.87. The IPO shares will trade in the secondary market the next day if the company signs the agreement with NEPSE.

Out of a total of 60,00,000 units of shares worth Rs. 60 Crore, 12,68,639 units worth Rs 12.68 Crores were issued as Initial Public Offerings to the general public (Baisakh 13- 17, 2080).

Nepal SBI Merchant Banking Limited was appointed as the issue manager for the IPO issuance.

Ingwa Hydropower Limited was incorporated on June 23, 2009, as a Private Limited company, which was later converted into a Public Limited company on August 25, 2014. The company has been promoted by institutional promoters and individual businessmen of Nepal for setting up a 9.70 MW run-of-river, Upper Ingwa Khola hydroelectric project (UIKHP) in the Panchthar district of Nepal. The project is constructed under BOOT (Build, Own, Operate, and Transfer) mechanism.