Yambaling Hydropower to Float IPO | Application Submitted to SEBON
October 12, 2023 | Investopaper
Yambaling Hydropower Limited is in the process of issuing shares to the general public (IPO). For this purpose, the company has submitted the application to the Securities Board Of Nepal (SEBON) on Ashwin 10, 2080 BS. Only after the approval from the regulatory body SEBON, the company can sell shares to the public.
If approved by SEBON, the company will sell 28,00,000 shares in the initial public offering (IPO). At a par value of Rs. 100, the public issue amounts to Rs. 28 crores.
The company has appointed Muktinath Capital Limited as the issue and sales manager for the IPO. An agreement has been reached between the company and Muktinath Capital on this regard.
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.
About Yambaling Hydropower Limited
Yambaling Hydropower Limited was established on November 21, 2007 as a private limited company. Later, on August 21, 2021, the company transformed into a public company in order to issue the shares to the public.
The company is currently developing Yambaling Khola hydropower project in Sindhupalchowk district. The project is a run-off-river (ROR) type project with an installed capacity of 7.27 MW.
The major promoters of the company include:
Money Plant Investment Private Limited (40%),
Susan Karmacharya (11%),
Lhayul Lama (4%),
Kosh Raj Onta (3%),
Raj Devi Rajbhandari (3%),
Shova Devi Karmachaya (3%)
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