Last Day to Apply for Locals IPO of Upper Lohore Hydropower Company; Issue Closing Today

Upper Lohore Hydropower Company Limited is closing the issue of its IPO for project-affected locals today i.e. on 5th Shrawan. The issue had opened on 7th Ashad, 2080.

The issued capital of the company is Rs. 50.98 Crores of which 10% i.e. 509,804 unit shares worth Rs. 5.09 crores have been allocated to project-affected locals of Dailekh District. Meanwhile, 39% of the company's issued capital i.e. 19,88,236 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 198,824 units shares were allocated for Nepalese citizens working abroad, the issue of which closed on 21st Ashad, 2080.

The minimum application quantity to be applied for both project-affected locals and Nepalese citizens working abroad is 10 units while the maximum quantity is 25,000 units.

NIC Asia Capital Limited is appointed as the issue manager. The promoter-public share ratio will be 51: 49 after this IPO.

CRNL has assigned a ‘CARE-NP BB- (Is)’ rating to Upper Lohore Khola Hydropower Company Limited (ULKH). Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations in Nepal.

Upper Lohare Hydropower Company Limited was established on November 10, 2017, as a private limited company. Later, the company was converted into a public limited company. The company is developing an Upper Lohore Hydropower Project in the Dailekh district. The project is a run-of-the-river type project with an installed capacity of 4MW.

Closing Notice