Palun Khola Hydropower To Float IPO | Appoints Prabhu Capital As Issue Manager
January 9, 2023 | Investopaper
Palun Khola Hydropower Limited is in the process of issuing shares to the general public (IPO). For this purpose, the company has appointed Prabhu Capital Limited as the issue and sales manager.
An agreement has been reached between the company and Prabhu Capital on this regard. The agreement was signed by Pushpajyoti Dhungana, Executive Chairman Of Palun Khola Hydropower Company and Dinesh Thakali, Managing Director of Prabhu Capital Limited.
Now, the company needs to submit the application to the Securities Board Of Nepal (SEBON) after completing the necessary procedures. Only after the approval from the regulatory body SEBON, the company can sell shares to the public.
In the first phase, the company will issue shares to the locals of the project affected areas and foreign employed Nepalese. 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.
In total, the company plans to sell 19 lakh shares that amounts to Rs. 19 crores in the public offering (IPO).
About Palun Khola Hydropower Limited
The company is currently developing Palun Khola Small Hydropower Project in Taplejung district. The project is a run-off-river type project with an installed capacity of 21 MW.
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