Another Hydro company Upper Solu Hydro Electric Company Limited IPO opening starts today 4th July 2022.
The company’s hydropower is in Solukhumbu District and recently opened IPO for local which were affected by this project. USHEC allotted 13,50,000 unit shares for the locals.
IPO for locals has been closed on Jestha 20 which was extended from 5th Jestha 2079 as the issue was not subscribed fully.
IPO Opening of Upper Solu Hydro Electric Company Limited Details
Solukhumbu-based hydro company is expecting to generate 23.5 MW of electricity. And has plans to sell the electricity to NEA.
According to reports from March 22, 2021, ICRA Nepal an IPO grading company has rated [ICRANP-IR] BB+ to Upper Solu Hydro Electric Company Limited. Companies with this grading are considered to have a moderate risk. You can check more about the rating here.
NMB Capital Limited is appointed as the issue manager for the IPO issuance.
The company has offered 19 lakhs 57 thousand and 500 hundred units or shares for the general public of which 2% i.e. 39,150 units have been set aside for the employees. Another 5% i.e 97,875 units have been set aside for the mutual funds.
Finally, the remaining 18,20,475 units are for the general public. This is the 14.5% shares of the issued capital
The IPO will be available from 4th July to 7th July 2022 and if the issue is not completed by then there will be an extension on this date as well.
USHEC IPO Opening and Closing Date
| USHEC Details | Dates |
|---|---|
| General Public | 18,20,475 units |
| Mutual Funds | 39,150 units |
| Employee | 97,875 units |
| Opening Date | Ashad 20, 2079/4th July |
| Closing Date | Ashad 23, 2079/7th July |
| Extended Date | Shrawan 2, 2079 |
