Kathmandu. Apollo Hydropower Limited (ABL) has opened its IPO from April 16 and the applications can be submitted till May 15. Although the company has issued the IPO till April 13, the government has decided to give a holiday on Saturday and Sunday for government offices, public bodies and educational institutions.
The company was allowed to issue 14,10,000 units of shares worth Rs 14.10 crore, which is 30% of the issued capital of Rs 57 crore. Out of the total offered shares, 4,70,000 units have been set aside for the locals of the project affected area and 94,000 units of ordinary shares have been allotted to the Nepalese working abroad. Similarly, the company has set aside 37,000 units for mutual funds and 18,800 units for employees.
In the second phase, the company is issuing 7,80,200 units of ordinary shares at a face value of Rs 100 per share.
Applications can be place for minimum 10 units and maximum 1000 units. Himalayan Capital Limited has been appointed as the issue manager for the IPO issuance.
Care Ratings Nepal has assigned CareNP Double B Minus Issue Rating to the company. This indicates that there is a moderate risk to the company’s ability to meet its obligations.
The general investors can apply for the ASBA service from the banks and financial institutions participating in the ASBA system after taking permission from the Securities Board of Nepal (SEBON). In addition, the applicants can also apply online using the software Mero Share developed by CDS and Clearing Limited.
