2 Hydro companies launching IPO,
Two more hydropower companies have applied to the Nepal Securities Board seeking permission to issue IPOs. Shwetaganga Hydropower and Construction Limited and Mandakini Hydropower Limited have applied to the board seeking permission to issue an IPO.
Shwetaganga and Mandakini have applied to the board on November 29 and 30 respectively.
The amount issued by Shwetaganga is 30 percent of the issued capital of Rs. 1.51 billion, equivalent to Rs. Permission has been sought to issue 47,79,000 shares of 100 face value to the residents, general public and employees of the project affected areas.
The company has appointed Sanima Capital as the sales manager for the issue of shares. The company has invested 28.1 MW in the Likhu River flowing through the border of Likhu Tamakoshi Municipality of Ramechhap District and Likhu Municipality of Okhaldhunga District. Likhu Likhu Hydropower Project of capacity is being constructed.
The electricity generated from this project will be supplied to the proposed 132 KV of Nepal Electricity Authority. There is a plan to connect New Khimti sub-station to the national broadcasting system. The construction progress of the project under construction by the company has been around 75 percent so far.
It is a company under Sanima Group. Similarly, Mandakini has sought permission to issue a total of 1,764,111 shares equal to 176,411,100 shares, which is 30 percent of its issued capital of 588,036,900.
The company has appointed BOK Capital as the sales manager for the issue of shares. The company has been generating electricity for three years by completing the 4 MW Sardi Khola Hydropower Project in Kaski.