Taksar Pikhuwa Khola Hydropower has started issuing its Initial Public Offering (IPO) from March 11. The Taksar Pikhuwa Khola Hydropower IPO is targeted at locals of the affected area and Nepali citizens working abroad.
The company is issuing 35.26% of its issued capital, worth Rs 1.20 billion. In total, 42,230,668 units of shares worth Rs 423 million will be offered to the general public.
Out of the total shares, 10% (1.2 million units worth Rs 120 million) are reserved for locals of the affected area in Bhojpur District. Similarly, 10% of the general public quota (303,067 units worth Rs 30.3 million) is allocated for Nepali citizens working abroad.
In addition, 151,533 units worth Rs 15.1 million are secured for mutual funds, and 60,613 units worth Rs 6.06 million are reserved for employees.
Investors can apply for a minimum of 10 units and a maximum of 50,000 units. For locals of the affected area, the Taksar Pikhuwa Khola Hydropower IPO will close early on March 25 and late on April 9. For Nepali workers abroad, it will close early on March 15 and late on March 25.
CARE Ratings Nepal has assigned a BB rating to the IPO, indicating moderate risk.
The company has appointed Prabhu Capital Limited as the issue manager. Local investors can apply through the office of the issue manager, Taksar Pikhuwa Khola Hydropower Site Office-Bhojpur, Prabhu Bank branches in Bhojpur, Pyauli, and Hatuwagadhi, and the Bhojpur branch of Citizens Bank International.
Foreign migrant workers can apply through all C-ASBA-approved banks and financial institutions (BFIs) and via the Meroshare system.
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