Upper Solu Hydro Electric Company Limited (USHEC) IPO for local has been issued to the project-affected locals of Solukhumbu districts’ (Dudhkunda Municipality) from Baisakh 22 to Jestha 5, 2079. If Upper Solu Hydro Electric Company Limited (USHEC) IPO is not subscribed by this date, the issue shall be extended up to Jestha 20, 2079.
Upper Solu Hydro IPO has issued a total of 13,50,000 shares with a par value of Rs. 100 per share for local public. The interested local applicant can apply for a minimum of 10 units and a maximum of 1,00,000 units for this IPO.
NMB Capital is the issue manager for the Upper Solu Hydro IPO.
| Upper Solu Hydro Electric Company Limited | |||
| Particulars | Percentage | Units | Amount |
| Total Capital of company | 100% | 1,35,00,000 | 1,35,00,00,000 |
| Total Issue for locals | 10% | 13,50,000 | 13,50,00,000 |
| Issue Manager | NMB Capital Limited | ||
| Issue Opened Date | Baisakh 22, 2079 | ||
| Issue Closing Date (earliest) | Jestha 5, 2079 | ||
| Issue Closing Date (Late) | Jestha 20, 2079 | ||
| Minimum Application to apply | 10 | ||
| Maximum Application to apply | 100,000 |
After the issue of 13,50,000 units worth Rs 13.5 crore IPO shares to the project affected locals and 19,57,500 units worth Rs 19.57 crore IPO shares to the general public, the company’s paid-up capital will reach Rs. 1.35 Arba.
ICRA Nepal has provided [ICRANP-IR] BB+ (pronounced ICRA NP issuer rating double B plus) to Upper Solu Hydro Electric Company Limited. This rating is indicated to have moderate risk of default regarding timely servicing of financial obligations for the company.
Upper Solu Hydro Electric Company Limited (USHEC)
Upper Solu Hydro Electric Company Limited (USHEC) was established on May 28, 2010 as a private limited corporation. on April 14, 2016, the company was transformed into a public limited company. The company is operating upper solu hydropower project (23.5 mw) in Solukhumbu district, Province 1 of Nepal. The upper Solu Khola hydropower project is a run-of-the-river (R-o-R) design with a 40% possibility of exceeding the target (Q40). The upper Solu Khola hydropower project, which was created at a total cost of NPR 5,000 million with a debt-to-equity ratio of 75.50 : 24.50, began operations on March 23, 2020. The upper Solu Khola hydropower project is one of the Super-Six projects that the Nepalese Department of Electricity Development considered at first.
