Kathmandu. Yambaling Hydropower Limited (YHPL) has been issuing the IPO for the locals of the project-affected areas from April 23. Although the company has extended the IPO issuance period till April 23, 2083, it is going to stop the issue due to more applications than the demand.
The company was allowed to issue 40 percent of the issued capital i.e. 28 lakh units of shares worth Rs 28 crore. Out of this, 700,000 units of IPO worth Rs 70 million each will be issued to the locals of the project-affected area. Locals of ward no 1, 2, 3, 4, 5, 6 and 7 of Jugal Rural Municipality can apply for the shares.
Applications can be place for minimum 10 units. Applications can be place for maximum 7,000 units of shares.
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.
Muktinath Capital Limited has been appointed as the issue manager for the IPO issuance. The local people can collect the application forms from Sindhu Bikas Bank and Kumari Bank’s Jugal Rural Municipality branch and Chautara branch of Sindhu Bikas Bank. Similarly, the local residents can also apply through the ASBA system on an optional basis. Locals of the project-affected areas will have to pay Rs 2 to receive the application form.
