Vision Lumbini Urja Company Issuing IPO Shares to Locals of Kaski District and Nepalese Employed Abroad from Bhadra 19
Sun, Aug 27, 2023 8:48 AM on IPO/FPO News, Latest,
Vision Lumbini Urja Company Limited has published an offer letter to issue an Initial Public Offering (IPO) to the project-affected locals of Kaski District and Nepalese citizens working abroad.
The IPO issue for the locals and Nepalese citizens working abroad will open from the 19th Bhadra to the 2nd Ashwin, 2080. Note that for the locals of Kaski District, if the issue is not subscribed by the early closing date, the issue can be extended till Ashwin 17. However, the issue will not be extended from the early closing date for Nepalese citizens working abroad.
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 will open on the date mentioned above.
For the project-affected locals, the minimum application quantity to be applied is 10 units while the maximum quantity is 380,000 units whereas for the Nepalese citizens working abroad, the minimum application quantity to be applied is 10 units and the maximum quantity is 19,120 units.
Muktinath Capital Limited has been appointed as the issue manager.
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.
