Himparbat Hydropower IPO deadline extended

Kathmandu. Himparbat Hydropower Limited has extended the deadline to apply for the IPO from October 26 to the local residents of the project-affected areas. Local residents can now apply for the IPO till November 26. However, if the applications exceed the demand, the company can close the issue and sale by publishing a notice at any time before that.

The company has been allowed to issue an IPO of Rs 59.15 crore, which is 35 per cent of the issued capital of Rs 1.69 billion. According to this, the company will sell a total of 59,15,000 units of shares at a face value of Rs 100.

Out of this, 16,90,000 units of ordinary shares worth Rs 16.90 crore will be issued to the locals of the project-affected areas. Out of the total 10.14 million units, 10.14 lakh units of shares will be issued to the locals of Ward No. 5, 6, 7 and 8 of Bigu Rural Municipality and Ward No. 2, 3 and 4 of Kalinchowk Rural Municipality.

Similarly, the company will open an IPO of Rs 4,22,50,000 to the shareholders who are in foreign employment, up to 10 percent of the shares allotted to the general public. As per the agreement, 4,22,500 units of face value of Rs 100 will be issued to Nepalis who are in foreign employment.

The interested bidders can apply for a minimum of 10 units and a maximum of 10,000 units. Locals can apply for the shares from Nepal Investment Bank, Sindhu Bikas Bank, Singati branch office of Prabhu Bank, Sunkhani extension counter of Laxmi Sunrise Bank and Charikot branch office of Citizens Bank.

Nepalese who are on foreign employment can apply from the banks and financial institutions participating in the C-ASBA service and their designated branches as well as from CDSC’s My Share.

Citizens Capital has been appointed as the issue manager for the IPO issuance.

Himparbat Hydropower IPO deadline extended

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