Home / Business / IPO for project-affected locals of Lamjung District and Employees of Promoter Institutions: Nyadi Hydropower issuing 18,00,000 units IPO shares from Bhadra 1

IPO for project-affected locals of Lamjung District and Employees of Promoter Institutions: Nyadi Hydropower issuing 18,00,000 units IPO shares from Bhadra 1

Nyadi Hydropower Limited is issuing its 15,00,000 unit IPO shares to the project-affected locals of Lamjung District and 3,00,000 units IPO shares to the employees of promoters institutions from Bhadra 1, 2078.

The IPO issue for locals is open from Bhadra 1 – 15. If unsubscribed, the issue can be extended to Bhadra 30, 2078. The interested locals and employees of the promoter institutions can place their applications for a minimum of 10 units and a maximum of 50,000 units.

Global IME Capital Limited has been appointed as the issue manager and NMB Captial Limited is the co-issue manager for the IPO issuance. Citizen Investment Trust is appointed as the underwriter of the IPO issue.

The company has 1,50,00,000 registered shares of which 40,50,000 shares will be issued to the public (Locals and general Public) and employees of the promoter institutions. This is 27% of the company’s paid-up capital.

After the IPO is issued in two phases, first to locals and employees of the promoter institutions and then to the general public, the promoter: public shareholding ratio of the company will be 73:27, and paid-up capital will be Rs 1.5 arba.

CARE Ratings Nepal Limited (CRNL) has assigned an Issuer rating of ‘CARE-NP BBB – (Is) [Pronounced triple B Minus (Issuer Rating)]’ to Ngadi Group Power Limited. Issuers with this rating are considered to have a moderate degree of safety regarding timely servicing of financial obligations, in Nepal.

Nyadi Hydropower Limited is a public company, incorporated on March 1, 2007. It is promoted by Butwal Power Company Limited (BPCL) and Lamjung Electricity Development Company Ltd. (LEDCO) for setting up a 30 MW run-of-river, Nyadi Hydropower Project (NHP) in Marshyangdi Municipality, Lamjung district of Nepal.

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