Nepal Hydro to issue IPO shares from August 11

Kathmandu: Nepal Hydro Developer Limited is to issue 390,000 unit shares worth Rs 39 million as part of its Initial Public Offering (IPO) for the general public from August 11, 2017 at face value of Rs 100 per share.

As per the notice published by the company Wednesday, the IPO applications will close on August 16, 2074. The maximum closing date for the offer is September 10, 2017.

Interested people must apply for a minimum of 50 units of share and they can apply for up to 1,000 units of share.

NMB Capital Limited has been assigned as the issue manager for the IPO issue.

The hydropower company has set aside 2 per cent (7,800 units) shares for its employees and 5 per cent (19,500 units) shares for the 11 mutual fund companies.

Interested applicants can collect ASBA application forms from all ASBA-approved banks and their branches in Nepal.

Nepal Hydro Developer Limited developed a 3.52 MW Charanwati Hydroelectric project in Dolakha district with an annual energy generation of 37.29 GW hr.