Starting on Ashad 20, 2079, Upper Solu Hydro Electric Company Limited (USHEC) would issue 19,57,500 units with a Rs 100 face value totalling Rs 19.57 crore as part of an IPO to the general public. This issue’s early closing date is Ashad 23, and if it is not entirely subscribed, it may be postponed until Shrawan 2, 2079.
About Upper Solu Hydro Electric Company Limited
2 per cent of the total offered shares to the general public, or 39,150 units, have been set aside for the company’s workers, and 5 per cent, or 97,875 units, have been set aside for mutual funds out of the 19,57,500 units that have been made available. The general public will receive the remaining 18,20,475 units. The general public will receive the remaining 18,20,475 units. It represents 14.5 per cent of the issued capital in shares.
The project-affected inhabitants of Solukhumbu districts’ (Dudhkunda Municipality) from 22nd Baisakh to Jestha 20, 2079) received 13,50,000 units, or 10% of the company’s issued capital, earlier. The corporation has allocated the shares to the eligible applicants effectively.
The public-to-promoter ratio is 75.5 to 24.5. After the IPO shares are distributed, the total paid-up capital would be Rs 1.35 Arba.
A minimum of 10 units and a maximum of 1000 units may be requested in an application.
The issue manager for the IPO issuance has been named NMB Capital Limited. NMB Capital Ltd has been appointed the issue manager for the IPO issuance. Note that the date of the IPO issue hasn’t been declared yet.
ICRA Nepal has reaffirmed Upper Solu Hydro Electric Company Limited’s issuer rating of [ICRANP-IR] BB+ (pronounced ICRA NP issuer rating double B plus) (USHEC or the company). Issuers with this rating have a moderate risk of promptly defaulting on their financial obligations.
Originally established as a private limited corporation on May 28, 2010, Upper Solu Hydro Electric Company Limited (USHEC) changed its status to a public limited company on April 14, 2016, enabling public participation. In Nepal’s Province 1’s Solukhumbu area, the firm runs a 23.5MW Solu HEP.
There is a 40% chance that the project’s run-of-the-river (R-o-R) design will surpass the goal (Q40). On March 23, 2020, the project’s activities got underway at a total cost of NPR 5,000 million and a debt-to-equity ratio of 75.50:24.50. One of the Super-Six projects that the Nepalese Department of Electricity Development (DoED) initially explored was the 23.5MW Solu HEP project.
Upper Solu Hydro Electric Company Limited (USHEC) Overview
|Name||Upper Solu Hydro Electric Company Limited|
|Listed Shares||19,57,500 units|
|Paid Up||Rs. 100.00|
|Total Paid Up Value|
|Opening Date||Ashad 20, 2079|
|Closing Date||Ashad 23, 2079|
|IPO for the company’s employees||39,150 units or 2%|
|IPO open for General Public||18,20,475 units|
|Minimum apply unit||10|
|Maximum apply unit||1000|
|IPO’s issue manager||NMB Capital Limited|
|Result Date||In 2nd or 3rd week after the closing date|
How to check Upper Solu Hydro Electric Company Limited IPO Result
You can check the result of the Upper Solu Hydro Electric Company 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 the Upper Solu Hydro Electric Company 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.