SEBON has finally approved Sikles Hydropower IPO Opening on 23th Ashad 2079, and Its Local opening was in July now; the public can apply too.
Sikles Hydropower Limited (SLHL) is ready to issue 8,50,000 units at face value of Rs 100 each. That will make the Issue amount of Rs 85 crores.
Currently, the hydropower company is setting up a 13MW run-of-the-river Madkyu Khola Hydroelectric Project in the Kaski District of Nepal.
Sikles Hydropower IPO Opening Details
Sikles Hydropower Limited (SLHL) has published a letter to issue IPO for the affected locals in the Kaski districts (Madi VDC Ward no. 1, 2, and 3).
The Initial Public Offer of the firm for the locals will be open from 6th Shrawan (22 July 2022) and will be closed on 20th Shrawan 2079 (5th August 2022). Also, if they fail to subscribe allocated 8,50,000 Unit Shares by the early closing date, the issue will be extended by 5th Bhadra (21 August 2022).
Sikles Hydropower Limited IPO Opening For General Public
After opening the IPO for local people, SLHL is now preparing to open shares for the Public from the 14th of September or the 29th of Bhadra.
SLHL is a hydropower generating company that will issue 11,50,000 shares at Rs 100 face value. If Sikles Hydropower successfully sells its shares, it will collect 11.5 crores from the public.
- IPO Start Date: 14th September | 29th Bhadra
- IPO Closing Date: 18th September | 2nd Ashwin
- Extend Date: If fully not subscribed 28th September | 12th Ashwin
Like every other company, they have 3% set aside for the employees, around 34,500 units. And mutual funds get 5% of the total offered shares, i.e., 57,500 units.
So, the general public is left with 10 lakhs and 58 thousand shares. With a simple calculation, we can assume 1 lakh 5 thousand and 800 will be allocated for this IPO.
Sikles Hydropower Limited IPO Opening For Locals
- Issued Unit: 8,50,000 Unit Shares
- Price per Unit: Rs 100
- Issue Manager: BOK Capital Market Limited
- IPO Opening Date: 6th Shrawan / 22 July 2022
- Closing Date: 20th Shrawan 2079 / 5th August 2022
- Extended (If not subscribed): 5th Bhadra / 21 August 2022
Sikles Hydropower Limited Rating
CARE Ratings Nepal Limited has assigned this Issuer a rating of ‘CARE-NP BB+ to Sikles Hydropower Limited. Issuers with this rating are considered to have a moderate degree of safety regarding the timely servicing financial obligations in Nepal.
