Him Parbat Hydropower Limited will open its Initial Public Offering (IPO) for local residents and Nepalis employed abroad starting from Kartik 11.
Him Parbat Hydropower Limited is all set to issue its Initial Public Offering (IPO) from Kartik 11 for local residents in project-affected areas and Nepali citizens working overseas. The company will offering 16.90 lakh units of shares to local residents and 4.225 lakh units for Nepali migrant workers.
For local residents, the company will issue 16.90 lakh shares, each priced at Rs. 100. Out of this, 10.14 lakh units are designated for permanent residents of highly affected areas, specifically Bigu Rural Municipality Ward No. 5, 6, 7, and 8, and Kalinchok Rural Municipality Ward No. 2, 3, and 4 in Dolakha district. The remaining 6.76 lakh shares are allocated for permanent residents in other wards of these two rural municipalities.
Similarly, 4.225 lakh shares, equivalent to Rs. 4 crore 22 lakh 50 thousand, are allotted for Nepali citizens who are working abroad. This amount represent 10 percent of the shares reserved for the general public. Nepali citizens who have received labor permits from the relevant government body to work overseas are eligible to apply for these shares.
Application Deadline and Share Limits
Applicants from both groups can apply for a minimum of 10 units and a maximum of 10,000 units. However, the final application deadline varies for each group.
For local residents in the project-affected areas, the IPO will close earliest on Kartik 25 and latest on Mansir 10. For Nepali citizens working abroad, the application period will close earliest on Kartik 16 and latest on Kartik 25.
Company Rating and Hydropower Project Status
ICRA Nepal has awarded the company an ‘ICRANP Issuer Rating Double B Plus’ for its IPO issuance. This rating signifies an average risk level for the company’s ability to meet its financial obligations.
Where to Apply?
Citizens Capital Limited has been appointed as the issue manager for the company’s shares. Local residents in the project-affected areas can submit their applications at the Singati branch offices of Nepal Investment Bank, Sindhu Bikash Bank, and Prabhu Bank. Additionally, applications can be submitted at the Sunakhani Extension Counter of Laxmi Sunrise Bank and the Charikot branch office of Citizens Bank.
Local residents will need to pay a fee of Rs. 2 to obtain the share application form.
Nepali citizens working abroad can apply through the C-ASBA system. This system is available via banks and financial institutions participating in the ASBA service, which are authorized by the Nepal Securities Board, and their designated branches. Furthermore, applications can also be submitted using CDS & Clearing Limited’s Mero Share online system.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
