Upper Lohore Hydropower Company Allotted Shares to Locals of Dailekh District, 59.45% of Shares Were Unsubscribed

Upper Lohore Hydropower Company Limited has allotted IPO shares to the project-affected local residents of the Dailekh District. The allotment program concluded on the 10th of Shrawan, 2080.

The company had issued 509,804 units of IPO shares which are 10% of the issued capital of Rs. 50.98 Crores to the project-affected locals of Dailekh District from 7th Ashad to 5th Shrawan. Locals could place their applications for a minimum of 10 units and a maximum of 25,000 units.

As per the notice published today, the company hereby informs that only 206,760 units, or 40.55% of the total issue have been allotted to the valid applicants. Thus, the remaining 303,044 units will be issued to the general public along with 19,88,236 units which are 39% of the issued capital of the company from Shrawan 18, 2080.

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 Lohore 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 Lohare Hydropower Project in the Dailekh district. The project is a run-of-the-river type project with an installed capacity of 4MW.

Notice