Vision Urja Company Issuing 20,75,285 Unit IPO Shares To General Public from 16th Kartik

Vision Lumbini Urja Company Limited is opening the issue of its 20,75,285 unit IPO shares from 16th Kartik, 2080. The early closing date of this issue is on the 20th Kartik and if the issue is not fully subscribed, it can be extended up to the 1st Mangsir 2080.

Earlier, the company had issued 19,12,500 unit shares to the project-affected locals of Kaski District out of which only 14,24,590 units were allotted to valid applicants. Thus, the remaining 4,87,910 units of unsubscribed shares of project-affected locals are added to 19,12,500 units to make a total of 24,00,410 units for the general public.

Out of the total 24,00,410 units; 191,250 units have already been issued and allotted to Nepalese citizens working abroad, and 95,625 units are allotted for mutual funds while 38,250 units have been set aside for the employees of the company. The remaining 20,75,285 units are for the general public.

The shares will be issued for Rs. 100 per share.

Muktinath Capital Limited is appointed as the issue manager. Applications can be placed for a minimum of 10 units while the maximum quantity is 380,000.

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.

Offer Letter: