Eastern Hydropower To Issue IPO to Public

From Ashwin 28, Eastern Hydropower Will Issue 6,70,310 Shares To The Public. In the second phase of the Initial Public Offering, Eastern Hydropower Limited will sell 6,70,310 shares to the general public after issuing shares to locals (IPO). From Ashwin 28, 2079 BS, the IPO will …

IPO of Eastern Hydropower Limited (1)

From Ashwin 28, Eastern Hydropower Will Issue 6,70,310 Shares To The Public. In the second phase of the Initial Public Offering, Eastern Hydropower Limited will sell 6,70,310 shares to the general public after issuing shares to locals (IPO). From Ashwin 28, 2079 BS, the IPO will be available. The issue will close on Karthik 1, 2079 BS if it is fully subscribed. The application deadline will be extended until April 14, 2079 BS if it is still undersubscribed after that time.

33,515 shares of the total issue are set aside for mutual fund plans, and 13,406 shares are reserved for the company’s staff. Therefore, the remaining 6,23,389 shares are available to the general public. A minimum of 10 shares and a maximum of 100,000 shares may be requested.

Eastern Hydropower IPO for Locals closed now

The hydropower company sold 6,20,000 shares in the first round of the IPO to residents of the project’s affected regions beginning in Bhadra 7, 2079 BS. 

The public offering to locals totaled Rs. 6.20 crores at a par value of Rs. 100. The public offering of shares was completed on Bhadra 28, 2079 BS due to full subscription. The locals-only IPO had previously been scheduled to end on Bhadra 21, 2079 BS. 

However, the application deadline was extended because there had been under-subscription up until that point. Everyone who lived in the Bhojpur District was qualified to apply for the shares. A minimum of 10 units and a maximum of 10,000 units could be requested.

IPO Details

On Shrawan 9, 2079 BS, the Securities Board of Nepal (SEBON) authorized the company to issue securities to the general public. On Mangsir 24, 2078 BS, the company had submitted the application to the board. In its initial public offering, the company intends to sell 1,240,000 shares to both locals and the general public for a face value of Rs 100. The public issue therefore totals Rs. 12.40 crores. The manager of the issue and sales is NMB Capital Limited. The hydropower company and NMB Capital have already come to an agreement on this matter. The public (locals and general public) will own 20% of the company’s shares following the IPO (if fully subscribed). The remaining 80% of the shares will also be held by the promoters. Currently, Eastern Hydropower Limited is in business.

Eastern Hydro IPO source

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