Himalayan Hydropower Limited (HMHL) has issued an offer letter to the general public in preparation for its Initial Public Offering (IPO).
From the 15th of Ashad, 2079, the company will issue 19,68,250 unit shares with a face value of Rs 100. This IPO is expected to generate Rs. 19.68 crore for the company. This issue’s early closing date is on 19th Ashad, and if it is not fully subscribed, it can be extended until 29th Ashad, 2079.
About Himalayan Hydropower Limited (HMHL)
Out of the total 19,68,250 units, 2% of the total offered shares, or 39,365 units, have been set aside for the company’s employees, and 5% of the total offered shares, or 98,413 units, have been set aside for mutual funds. The remaining 18,30,472 units will be available to the general public. Following the IPO, the company’s paid-up capital will be Rs. 1.09 Arba.
Previously, the company issued 9,00,000 unit IPO shares, representing 8.22 per cent of the issued capital of Rs. 1.09 Arba, to project-affected residents of Kaski District (Madi VDC) from the 25th Baisakh to the 23rd Jestha, 2079. However, only 2,81,750 units out of a total of 9,000 have been subscribed. As a result, the remaining 6,18,250 unsubscribed shares are added to the 13,50,000 units (which is 12.33 per cent of the shares reserved for the general public) for a total of 19,68,250 units for the general public. The promoter shareholders own 79.45 per cent of the company’s shares.
Global IME Capital Limited has been appointed as the IPO’s issue manager. Applications can be submitted for as few as 10 units and as many as 1000 units.
ICRA Nepal has downgraded Himalayan Hydropower Limited’s issuer rating to [ICRANP-IR] B+ (pronounced ICRA NP issuer rating B plus) from [ICRANP-IR] BB+ (pronounced ICRA NP issuer rating double B plus). This rating indicates that the issuer is at a high risk of default in terms of timely servicing of financial obligations.
Himalayan Hydropower Limited (HHL), founded in December 2004 as a private limited company, was converted to a public limited company in May 2017 to allow for greater public participation. As of June 2019, the company’s paid-up capital was NPR 664 million. Mr. Khom Bahadur K.C. (20%), Mr. Min Bahadur Khadka Chhetri (6%), and Mr. Sudhir Yadav (5%), among others, are major promoters. If the proposed IPO issue is fully subscribed for, the promoter holding will be reduced to 75%. Following the proposed IPO, the company’s shares are expected to be listed on the stock exchange. The proposed equity would be used to fund the development of the 11.88MW Namarjun Madi hydroelectric project.
Himalayan Hydropower Limited (HMHL) Overview
|Name||Himalayan Hydropower Limited|
|Listed Shares||1,968,250 units|
|Paid Up||Rs. 100.00|
|Total Paid Up Value|
|Opening Date||B.S. 2079 Ashadh 15, Wednesday|
(29-6-2022 A.D. )
|Closing Date||B.S. 2079 Ashadh 19, Sunday|
(3-7-2022 A.D. )
|IPO for the company’s employees||39,365 units or 2%|
|IPO open for General Public||18,30,472 units|
|Minimum apply unit||10|
|Maximum apply unit||1000|
|IPO’s issue manager||Global IME Capital Limited|
|Result Date||In 2nd or 3rd week after the closing date|
How to check Himalayan Hydropower Limited IPO Result
You can check the result of the Himalayan Hydropower Limited IPO Result from the official website after the result is published. Follow these steps to check the IPO result online.
- Click on the below button to visit the official website
- Select Himalayan Hydropower Limited from the select company drop-down input field.
- Enter your demate number in the 16-Digit BOID input field.
- Click on the “View Result” Button.