January 10, 2022 | Investopaper
Independent Power Producers’ Association of Nepal (IPPAN) has demanded the Securities Board of Nepal (SEBON) not to stop the issuance of initial public offering (IPO) of hydropower projects.
IPPAN made the demand stating that the work of the hydropower project under construction has also come to a standstill as the board has not decided on the IPO issuance permission. On Sunday, Ippan handed over the memorandum after meeting the acting chairman of SEBON Niraj Giri.
SEBIN has not approved a single IPO in the last five months. As the post of chairman of the board has remained vacant, it has stopped the IPO permission.
So far, the board has 28 companies in the pipeline for IPO approval. Out of which 19 are companies related to hydropower. The total IPO issuance of these 28 companies in the pipeline is equivalent to Rs 7.51 billion.