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IPO Date of Nyadi Hydropower Limited

News 01 Oct 2021 4159 0

IPO Date of Nyadi Hydropower Limited

Nyadi Hydropower Limited has issued an Initial Public Offering (IPO) to the public from 15th Ashoj 2078 (1st October 2021) Friday. The company has issued 2.25 million shares worth Rs 225 million.

Out of the total shares issued to the public, only 2 percent or 45,000 shares will be allotted to the employees, and 5 percent or 112,500 shares will be allotted to the collective investment fund and the public will be able to apply for the remaining 2,092,500 shares.

The company will be able to apply for the shares of the eviction gear by Ashoj 19 (5th October 2021). If there are not enough applications as per the demand within that period, the deadline will be extended till 17th October 2021 (31st Ashoj 2078).

Investors interested in the company's IPO will be able to apply for a minimum of 10 units to 50,000 units at the rate of Rs 100 per unit. All ASWA member banks and financial institutions approved by the Nepal Securities Board, designated branch offices, and MeroShare mobile app can also apply for the company's IPO.

The IPO issued by the company has been given a 'CareNP Double B Issuer' rating by Care Rating Nepal. This indicates an average risk in the company's ability to meet financial obligations.

The issue and sale manager of the company is Global IME Bank and the guarantor is Citizen Investment Fund. At present, the company's paid-up capital is Rs 1.95 billion. The company's paid-up capital will reach Rs 1.5 billion after the IPO of Rs 150 million to locals, Rs 30 million to founding shareholders, and Rs 225 million to the general public.