Last Day to Apply for Locals IPO of Vision Lumbini Urja Company; Issue Closing Today

Vision Lumbini Urja Company Limited is closing the issue of its IPO for project-affected locals today i.e. on the 17th of Ashwin. The issue had opened on 19th Bhadra, 2080.

The issued capital of the company is Rs. 1.91 Arba of which 10% i.e. 19,12,500 unit shares worth Rs. 19.12 Crores have been allocated to project-affected locals of Kaski District. Meanwhile, 10% of the company's issued capital i.e. 19,12,500 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 191,250 units shares have been allocated for Nepalese citizens working abroad, the issue of which closed on 2nd Ashwin, 2080.

Muktinath Capital Limited is appointed as the issue manager. Applications can be placed for a minimum of 10 units while the maximum quantity is 380,000.

According to CDSC, 612 local applicants have applied for a total of 525,450 units. Thus, the issue has been only subscribed by 27.48% as of 10 AM this morning.

ICRA Nepal has reaffirmed the long-term rating of [ICRANP] LBB- (pronounced ICRA NP L double B minus) to Vision Lumbini Urja Company Limited’s long-term loan limits and also reaffirmed the short-term rating of [ICRANP] A4 (pronounced ICRA NP A four) to its short-term loan limits.

Vision Lumbini Urja Company Limited is developing a 25-MW Seti Nadi Hydroelectric Project in the Machhapuchchhre rural municipality of Kaski District, Gandaki Province of Nepal. The project is a run-of-the-river (R-o-R) type and is being developed at a 44.5% probability of exceedance.

Closing Notice