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Asian Hydropower Issuing IPO to General Public from Magh 27

The offer letter for Asian Hydropower Issuing IPO Limited’s Initial Public Offering (IPO) has been issued. From 27th Magh, 2079, the company will offer 697,200 shares with a face value of Rs 100 each in an effort to raise Rs 6.97 crore. There is a deadline for subscription on 2nd Falgun, but it may be extended until Falgun 12, 2079 if not fully subscribed.

Eighty-four thousand (10%) of the units have been issued to Nepalese citizens abroad, sixteen thousand (2%) have been reserved for employees of the company, and forty-two thousand (5%) have been issued to mutual funds. There are still 697,200 units available for public subscription. As a result of the IPO, the company will have a paid-up capital of Rs 34 crores. In the past, the company distributed 340,000 units worth Rs 3.4 crores to project-affected locals and 84,000 units to Nepalese abroad. The promoters own 65.29% of the company’s shares.

The IPO’s issue manager is NMB Capital Ltd. There is a minimum purchase requirement of 10 units and a maximum purchase requirement of 20,000 units. CARE Ratings Nepal Ltd. has confirmed Asian Hydropower Ltd.’s “CARE-NP BB (Is)” issuer rating, indicating a moderate risk of default.

Asian Hydropower Issuing IPO Details

Company Name Asian Hydropower Limited
IPO Open Date Magh 27
IPO Close Date Falgun 2
No. of Shares (General Public) 6,97,200 
No. of Shares (Employees) 16,800 
No. of Shares (Mutual Funds) 42,000 
Issue manager NMB Capital
CARE Ratings CARE-NP BB (Is)

About Company

The company was founded as a private company on May 05, 2016 and became a public company on July 10, 2019. Individual and institutional investors have backed the Lower Jogmai Hydropower Project, a 6.2 MW run-of-river hydropower project in Illam district, Nepal. The project began commercial operations on November 1, 2021 and harnesses the flow of the Jogmai Khola river. There are 132.2 km2 of catchment area and a design discharge of 5.70 m3/s at 40% exceedance flow.


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