Sikles Hydropower to Issue IPO from 29 Bhadra

Sikles Hydropower Limited has published an offer letter to issue 11,50,000 unit IPO shares to the general public from 29th Bhadra to 2nd Ashwin, 2079. Last closing date for offering is 12th Ashwin.

The hydropower company will issue 11,50,000 IPO shares, out of which 5% (57,500) unit shares is for mutual fund, 3% (34,500) unit shares is for employees of the company and remaining 10,58,000 unit shares is for general public.

Sikles Hydropower plans to raise NPR 200,000,000 by offering Initial Public Offering to general public and local people. Previously the company had issued initial public offering worth 8,50,000 unit shares to local of Kaski district. IPO allotment of local IPO was held recently on 15th Bhadra.

Care Rating Nepal licensed by SEBON has rated the IPO offering of Sikles Hydropower as ” CARE-NP BB(+) Is”. Such rating represents moderate risk of default regarding timely servicing of financial obligations.

Sikles hydropower has invested in 13 mega watt hydropower project “Madkyu Khola Jalvidhyut Aayojana” based on run off river. The fund raised by the company will be used for paying the debt taken by the company from financial institutions for construction of projects.

Read More : NEPSE to Close Stock Trading on Friday From Ashwin 2079