Kathmandu — Solu Hydropower Limited has opened its Initial Public Offering (IPO) for the general public from today, February 29. The IPO follows the completion of share allotments to project-affected local residents and Nepalis employed abroad.
The company has received approval to issue 20 million ordinary shares, equivalent to 20 percent of its issued capital of Rs 10 billion, amounting to Rs 2 billion. Of the total approved shares, 10 million units were pre-allocated to residents of project-affected areas, while 1 million shares were already issued and distributed to Nepalis working abroad with valid labor permits.
In the second phase, Solu Hydropower is issuing 8.2 million ordinary shares worth Rs 820 million to the general public. Of this, 500,000 shares have been reserved for mutual funds and 300,000 shares for company employees. General investors can apply for a minimum of 10 shares and a maximum of 100,000 shares.
Read this:-Solu Hydropower to Issue IPO from January 13
According to the company, the IPO will close at the earliest on Magh 4 and at the latest on Magh 14, depending on the level of subscription.
The funds raised through the IPO will be used to support the construction of the 82-megawatt Lower Solu Hydropower Project. The total estimated cost of the project stands at Rs 16.34 billion, with an estimated cost of Rs 198.8 million per megawatt.
Nabil Investment Banking Limited and Himalayan Capital Limited have been appointed as the issue and sales managers. Investors can submit applications through all C-ASBA member banks and financial institutions approved by the Securities and Exchange Board of Nepal (SEBON), their designated branch offices, as well as through the Mero Share online platform operated by CDS and Clearing Limited.
How to check IPO allotment results
Applicants can check the IPO allotment result through the following three official platforms:
CDS & Clearing IPO Result Website https://iporesult.cdsc.com.np/
Sales Manager’s Website (Muktinath Capital) https://www.globalimecapital.com/#home
Mero Share Portal https://meroshare.cdsc.com.np/#/login
Investors are advised to verify their results using their BOID number through any of the above platforms.
