Kutheli Bukhari Small Hydropower IPO
Kutheli Bukhari Small Hydropower Limited is opening the issue of its 101,151 unit IPO shares of Rs 100 face value from today i.e. on 26th Ashad, 2080. The early ending date of this issue is on 29th Ashad and if the issue isn't completely subscribed, it can be extended up to 9th Shrawan, 2080.
Out of the total 121,867 units; 10 i.e. 12,186 units have formerly been issued and allotted to Nepalese citizens working abroad, 5 of the total offered shares i.e. 6,093 units have been set aside for the collective finances while 2 i.e 2,437 units have been set aside for the workers of the company. The remaining 101,151 units are for the general public. The paid-up capital of the company will reach Rs.12.18 Crores after the IPO allocation. The company intends to collect Rs1.01 crore from this IPO.
Before, the company had issued 121,868 unit shares worth Rs.1.21 crores to the project-affected locals of Dolakha District and 12,186 unit shares to Nepalese citizens working abroad. The promoter-public share ratio will be 80:20 after this IPO.NMB Capital Limited is appointed as the issue manager for the IPO allocation. Operations can be placed for a minimum of 10 units and outside of 1,000 units. ICRA Nepal has reaffirmed the issuer rating of Kutheli Bukhari Small Hydropower Limited at (ICRANPIR) BBB- (pronounced ICRA NP Issuer Rating Triple B disbenefit), indicating a moderate degree of safety regarding the timely servicing of financial scores.
Kutheli Bukhari Small Hydropower Ltd. was incorporated on August 11, 2011, as a private limited company and was converted to a public limited company on January 28, 2015, to grease public participation. The company is operating a 0.998-MW Suspa Bukhari Khola Small HPP in the Dolakha quarter, Madhesh Province of Nepal. It's a run-of-the-swash (R-o-R) type design with a 40 probability of exceedance (Q40). The design started marketable operation on September 20, 2015, and was developed at a total cost of NPR 248 million.
