April 8, 2021 | Investopaper
Upper Solu Hydro Electric Company Limited is going to issue Initial Public Offering (IPO). For this purpose, the company has submitted the application to the Securities Board Of Nepal (SEBON) on Chaitra 16, 2077 BS.
If SEBON provides approval, the company will float 33,07,500 shares in the public offering. In the first phase of the IPO, the company will issue shares to the locals of the project affected areas. After the completion of first phase, the company will sell shares to the general public. At a par value of Rs 100, the total public issue amounts to Rs 33.07 crores.
NMB Capital is the issue manager for the IPO.
The company is constructing a Solu Hydro-Electric Project at Solu Khola in Solukhumbu district. The project is a run of the river type with an installed capacity of 23.5 MW. It will generate about 132.52 GWH of electricity annually.