13 hydel companies in preparation to launch IPO
KATHMANDU: Various 13 hydro-power companies are going to launch their Initial Public Offerings (IPO).
Of the 19 companies of different sectors that had applied to the Security Board of Nepal for IPO and Follow on Public Offer (FPO), 13 companies belong to hydro-power.
The IPO will be allotted for locally affected people and general people. The face value of each unit of IPO share has been valued at Rs 100.
Projects are bound to give 10 percent of the total units of share to locally affected people by law.
Of the applicants, Sanjen Hydropower Company Limited, a subsidiary company of Chilime Hydropower Company, will allot 8 million 760 thousand units of share worth Rs 876 million for employees of cooperatives that have invested in the hydro-power and members of the Provident Fund.
Likewise, Rasuwagadhi Hydropower Limited will allocate a total of Rs 16 million 421 thousands units of share worth Rs 1 billion 642 million 100 thousand for employees of the investors and members of the Provident Fund.
Aakhukhola Hydropower Company Limited will issue 800,000 units of share worth Rs 80 million for the affected local people.
Ganjyang Upatakya Hydropower Limited will allot 200,000 units of share worth Rs 20 million for the affected local people while Shuvam Power Limited will give the same units of IPO share for the affected locals.
Joshi Hydropower Development Company Limited has applied for allotting the total 371,000 units of IPO share worth 3 crores, 71 lakhs and 40 thousands for the affected locals, said the Board.
Likewise, Butwal Power Company will issue 4,081,000 units of FPO share for general people while Panchakanya Mai Hydropower Project will allot 1.1 million units of IPO share worth Rs 110 million for the affected local people.
Langsingh Buddha Power Company has applied for issuing IPO shares worth Rs 97. 8 million for the affected local people.
Similarly, Unique Hydel Company will allocate shares worth Rs 55.5 million for the affected local people.
Panchankanya Hydropower Company will issue 1.1 million units of IPO share for the affected local people while Nepal Hydro Developer the total 390,000 units of IPO share.
Likewise, Radhi Vidhyut Company will allot IPO shares worth 7 crores 64 lakhs and 55 thousands for general people.