Daramkhola Hydro Energy To Issue 39,50,000 Shares In IPO
August 25, 2023 | Investopaper
Daramkhola Hydro Energy Limited is in the process of issuing shares to the public (IPO). For this purpose, the company has submitted the application to the Securities Board Of Nepal (SEBON) on Bhadra 5, 2080 BS. Only after receiving the approval from the regulatory body, the company can float the shares to the public.
If approved by SEBON, the hydropower company is planning to float 39,50,000 unit shares to the general public. At a par value of Rs 100, the public issue amounts to Rs 39.50 crores.
The company has appointed Laxmi Capital Market Limited as issue and sales manager. The agreement for public offering has already been signed between the company and Laxmi Capital in this regard.
In the first phase, the company will sell the shares to the locals of the project affected areas and to the Nepalis in foreign employment. Likewise, in the second phase, the hydropower will float shares to the general public, including the employees of the company and the mutual fund schemes.
About Daramkhola Hydro Energy
Daramkhola Hydro Energy Limited is currently developing a 9.6 MW Daram Khola Hydroelectric Project in Baglung district.
The electricity generated from the project will be evacuated through Harichaur Sub-station. The company is constructing a 14 km long 33 kV transmission lines from powerhouse to the Harichaur substation in Baglung district.
Recommended:
