SEBON Adds IPO Shares of Solu Hydropower and Taksar Pikhuwa Khola Hydropower in its Pipeline

The Initial Public Offering (IPO) of Solu Hydropower Limited has been added to SEBON’s IPO pipeline for approval.

The company is seeking to issue 20,000,000 unit shares to the local as well as the general public. The IPO issue will raise a total of Rs. 2 Arba.

Nabil Investment Banking Limited has been appointed as the issue manager for the IPO issuance. The application was sent to SEBON on Ashwin 23, 2080.

Infomerics Credit Rating Nepal Limited (Infomerics Nepal) has assigned an issuer rating of IRN BB (Is) [Double B (Issuer)]. Issuer with this rating are considered to have the moderate risk of default regarding timely servicing of financial obligations.

Similarly, the IPO proposal of Taksar Pikhuwa Khola Hydropower Limited is also added to SEBON's pipeline.

The company has submitted a proposal to the capital market regulator to issue a total of 4,230,668 shares to the local as well as the general public. This will raise Rs. 42.30 crores for the company. The application was submitted on Ashwin 26, 2080.

Prabhu Capital Limited has been appointed the issue manager for the public offering.

CARE Ratings Nepal Limited (CRNL) has reaffirmed rating of ‘CARE-NP BB’ to the long-term bank facilities of Taksar Pikhuwa Khola Hydropower Private Limited (TPKH).