The IPO issued by Mid Solu Hydropower Limited to the general public has been distributed today.
NIC Asia Capital, the company’s IPO sales manager, distributed the shares to Carnival Restaurant at 5 pm. The company opened the IPO sale to the general public from August 29 to October 2. The company had issued 621 thousand 172 shares to the general public.
In the company’s IPO, 13 lakh 54 thousand 846 applicants applied for 1 crore 51 lakh 22 thousand 250 shares. The IPO was distributed through the round robin system as there were 24.34 times more applications than the demand. Among the total applicants, only 62 thousand 118 people have got the shares, while the remaining 12 lakh 92 thousand 728 people are left empty-handed.
The company has issued and distributed to the local residents of the project-affected areas and Nepalis who have obtained labor approval and are employed abroad.In the rating given for the IPO issuance, Icra Nepal has given the company Icra NP Issuer Rating Double B Plus. This indicates that there is an average risk in the ability of the company to bear its obligations.
The total estimated cost of the 9.5 megawatt Mid-Solu hydropower project being promoted by the company is 2.84 billion 41 lakh 63 thousand 628 rupees, while the total estimated cost of the Uzita Megawatt is 21 crore 93 lakh 85 thousand 645 rupees 5 paisa.
The normal investment payback period of the project is 6.11 years, while the discount payback period is 10.87 years. The project has been producing commercial electricity regularly since 15 January 2079.
The results of the IPO can be viewed from https://nepsebajar.com/iporesult .