The 9.5-megawatt electricity-producing Mid Solu Hydropower project has initiated its Initial Public Offering (IPO) starting from Bhadra 28th.

Mid Solu Hydropower Limited has announced that it will conduct its initial public offering (IPO) in two phases, initially targeting local residents and Nepali individuals employed in foreign countries, and subsequently opening the IPO to the general public from Bhadra 29th.

The company had initially allocated 10% of its total capital, which amounts to NPR 74 crores and 84 lakhs, i.e., NPR 7 crores 48 lakhs for 7,484,000 common shares at a rate of NPR 100 per share, for the residents of the affected areas. This included the allocation of 561,300 shares specifically for highly affected areas in Solukhumbu District, namely Solu Dudhkunda Municipality wards 3, 4, 5, 6, 6, and 8, while 187,100 shares were reserved for residents in other planned affected areas of Solukhumbu District.

Important Information About Mid Solu Hydropower's IPO

Mid Solu Hydropower Limited has allocated 10% of its total capital, which amounts to NPR 74 crores and 84 lakhs, for the initial public offering (IPO) at a rate of NPR 100 per share. This allocation is intended for the local residents of the affected areas, as well as Nepali individuals who have obtained labor permits to work abroad. A total of 7,484,000 common shares have been earmarked for this purpose.

In addition to this, in the second phase of the IPO, the company will issue shares as follows:

1. 14,968 shares for employees.
2. 37,420 shares for collective investment funds.
3. The remaining 6,210,172 shares for general investors.

The IPO application process will accept a minimum of 10 shares and a maximum of 10,000 shares per applicant.

The IPO subscription period will end on Ashoj 1st. However, if the demand exceeds the supply, additional time for applications may be provided until Ashoj 11th.

The IPO is managed by NIBL Ace Capital Limited.

Regarding credit rating, the IPO has received a rating of "Double B Plus" (BB+) from credit rating agency ICRA Nepal, indicating an average level of risk associated with the company's obligations.

Applicants can submit their applications at the project site, NIBL Ace Capital, Laxmi Sunrise Bank, Global IME Bank, and the designated branches of Rastriya Banijya Bank. Applicants from the affected areas can also submit applications with a fee of NPR 2 at the project site.

Mid Solu Hydropower Limited has undertaken the construction of a 9.5-megawatt hydropower project at an estimated total cost of NPR 208 crores and 41 lakhs. The company has been producing electricity commercially since Poush 15, 2079 (December 30, 2022).

Please note that this information is provided for reference, and individuals interested in participating in the IPO should verify the details from the official sources and consult with their financial advisors for investment decisions.