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SEBON Approved Himalayan Hydropower Limited IPO!!


The hydropower company is proposing to come out with an IPO of 2,250,000 equity shares with a face value of NPR 100 each, at par to raise capital worth Rs.22.50 Crore. Janata Capital Limited has been appointed as the issue manager.

ICRA Nepal Limited has assigned a [ICRANP] IPO Grade 4 to the Rs.22.50 Crore Initial Public Offer of Himalayan Hydropower Limited.

Incorporated in December 2004 as a private limited company, Himalayan Hydropower Limited (HHL) was converted into a public limited company in May 2017 to facilitate public participation. The company’s paid-up capital was ~NPR 664 million as of June 2019. The major promoters include Mr. Khom Bahadur K.C. (~20%), Mr. Min Bahadur Khadka Chhetri (~6%) and Mr. Sudhir Yadav (5%), among others. The promoter holding after the proposed IPO issue is expected to dilute to 75%, assuming full subscription. The shares of the company are proposed to be listed in the stock exchange post the proposed IPO. The proceeds from the proposed equity would be utilized towards development of the 11.88MW Namarjun Madi hydroelectric project.

 

Himalayan hydropower Limited is a registered public limited company established under the companies Act 2063 of Nepal, with the objective of promoting hydropower in Nepal through private investment.

Himalayan hydropower Limited  was incorporated as a private limited company on 2061 Mangsir 22 BS and later converted into the public's company as Himalayan Hydropower Limited on 2074 Baishak 28.

 

Mission

The main objective of the company is optimum use of water to generate hydropower electricity which ultimately fulfills the demand of electricity of the country.

 

Vision

The main objective of the company is optimum use of water to generate hydropower electricity which ultimately fulfills the demand of electricity of the country.

 

 

NEPSE, IPO Results, Success Story, Economic News

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