Balephi Hydropower Limited IPO has been issued for the local public. A total of 18,27,970 unit IPO shares has been issued to the project-affected locals of Sindhupalchowk District on Magh 27, 2078.
Local investors can apply for this IPO from Magh 27 to Falgun 12, 2078. If this IPO will be unsubscribed till the early closing date, the issue will be extended up to Falgun 27, 2078. The applicants can apply for this IPO for a minimum of 10 units and a maximum of 1,00,000 units of shares.
Global IME Capital Limited is the issue manager for the IPO issuance. According to rating agency ICRA Nepal, the company is permitted to develop, generate and sell power from the project for the span of 35 years. The project capacity is 36 MW with run-of-river type hydropower. The estimated cost of the project construction is Rs. 607 crores.
ICRA Nepal provided this IPO [ICRANP] IPO Grade 4+ rating, indicating below-average fundamentals. This means a high risk for investment.
Balephi Hydropower Limited IPO for Local Public
The Balephi Hydropower Limited has 1,82,79,700 registered shares. Out of which 3,655,940 shares will be issued to the local public and General Public. After issuing this IPO, the promoter and public investors ratio is 80:20 percent.
The IPO will issue in two phases, in the first phase, the company has issues IPO for the local public and in the second phase, it will issue for the general public as per Government rules. After issuing the IPO, the company’s paid-up capital will be reached Rs 1.82 arba.
Belephi Hydropower Limited was registered in the company register office and the department of industry. It started to work on Poush 18, 2078. The company is constructing the ‘Upper Balephi A Hydropower Project’ in the Sindhupalchowk district. So, the local project affected people of Sindhupalchowk district are eligible to apply for this IPO. According to PPA(Power Purchase Agreement) between the company and Nepal Electricity Authority to sell its electricity at the rate of Rs. 4.8 and Rs. 8.4 per KWH in wet and dry season respectively including escalation of 3% per annum for 9 years. If you are the local of project affected area, it is a good opportunity to invest in the share market.