Kathmandu. Taksar Pikhuwa Khola Hydropower Limited (TXL) has opened its IPO from March 11 for the purpose of submission of applications from the locals of the project-affected areas. The issued capital of the company is Rs 1.20 billion. The company was allowed to issue 26 percent i.e. 4,230,668 units of shares worth Rs 423,66,800.
Out of this, 12 lakh units of ordinary shares worth Rs 120 million each have been issued to the locals of the project-affected area. Local residents of Bhojpur district can apply for the shares.
Applications can be place for minimum 10 units and maximum 50,000 units.
Care Ratings Nepal has assigned CareNP Double B Plus Issue Rating to the company. This indicates that there is an average risk to the company’s ability to meet its obligations.
Prabhu Capital Limited has been appointed as the issue manager for the IPO issuance. The interested bidders can bid for the shares from Prabhu Bank’s Bhojpur, Prabhu Bank’s Bhojpur, Prabhu Bank’s Bhojpur branch office and Citizens Bank International’s Bhojpur branch office. Locals of the project-affected areas will have to pay Rs 2 to receive the application form.
