Prabhu Steels and Hydro Investment Company Progresses in Rs. 98 Crore IPO Issuance

Prabhu Steels and Hydro Investment Company Limited has made progress in issuing an IPO worth Rs. 98 crores. An agreement was signed with Kumari Capital to manage the share issuance. The company is backed by significant investors, including Prabhu Cablecar and Tourism Limited, Prabhu Holdings, and other subsidiaries of Prabhu Group. Its investments span hydropower, agriculture, tourism, manufacturing industries, and adventure tourism.

The company also imports and stores hydropower machinery, with a recently acquired 3 bigahs of land in Birgunj for hydropower operations. It holds significant stakes in projects such as Liberty Energy Company Limited and Siddhartha Cablecar Limited. With IPO funds, the company aims to expand its hydropower investments aggressively.

The IPO will consist of 1,96,00,000 shares at Rs. 50 per share, with Rs. 1.2 billion allocated to founders and Rs. 980 million to the public. The company has been profitable for the past two years. The agreement for share issuance was signed by Mr. Dil Prasad Adhikari, CEO of Prabhu Steels and Hydro Investment Company.