SEBON Adds 14.96 Lakhs IPO Shares of Mid Solu Hydropower Company in its Pipeline

The IPO proposal of Mid Solu Hydropower Company Limited is in SEBON's pipeline.

The company has submitted a proposal to the capital market regulator to issue a total of 14,96,800 shares. This will raise Rs. 14.96 crores for the company. The application was submitted on Magh 11, 2079.

NIC Asia Capital has been appointed the issue manager for the public offering.

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

Mid-Solu Hydropower Limited was incorporated on April 19, 2017, as a private limited company and converted to a public limited on June 30, 2021, to facilitate public participation. The company is currently developing a 9.5-MW Mid-Solu Khola HPP in Solukhumbu district, Province 1 of Nepal. The project is a run-of-the-river (R-o-R) type and is being developed at a 40.9% probability of exceedance. The PPA for the project has been entered under a six-months dry energy and six-months wet energy modality with a dry energy mix of ~33%. The annual contracted energy to be generated by the project is ~57 GWh at a PLF of 69%.