Introduction:
Vision Lumbini Energy Company has initiated the IPO sale, offering a unique opportunity for project-affected locals and Nepalese citizens working abroad. This hydropower venture is set to allocate 10 percent of its issued capital of NPR 1.91 billion and 25 million to local individuals, equating to NPR 19,125,000. Local applicants can secure a piece of this opportunity by subscribing for 19,125 shares at a face value of NPR 100 per share.
Project Details:
The company’s project involves the resettlement of local residents from Ward No. 1, 2, 3, 4 of Machhapuchhre Rural Municipality in Kaski District and Ward No. 19 of Pokhara Metropolitan City, primarily impacted by the hydropower project.
For the general public, 10 percent of the company’s shares, totaling 191,250 shares, are up for grabs. These shares are available to Nepali citizens employed abroad, offering them an opportunity to invest in their home country.
Application Process:
Local group investors can apply for a minimum of 10 shares and a maximum of 380,000 shares, while Nepalese working abroad can apply for a minimum of 10 shares and a maximum of 19,120 shares.
The IPO application window is open until Ashoj 2nd. However, if the company does not receive complete applications within that timeframe, locals will still have the opportunity to apply until Ashoj 17th.
Credit Rating:
Infometrics Credit Rating, a reputable credit rating agency, has assigned the company an ‘IRN Double B Minus’ rating, indicating an average risk level concerning its financial obligations.
Application Locations:
Locals can submit their applications at Seti River Hydropower Project Site, Machhapuchhre Rural Municipality, designated branches of Muktinath Development Bank, and Nepal Finance Machhapuchhre Rural Municipality Bhujungkhola branch.
Residents of project-affected areas will be charged a nominal fee of NPR 2 when submitting their share purchase applications. Nepali expatriates, meanwhile, can apply through C-ASBA approved banks, financial institutions, and Mero Share.
Vision Lumbini Energy IPO Details
| Category | Details |
|---|---|
| Offered Capital | NPR 1.91 billion and 25 million |
| Allocation to Locals | NPR 19,125,000 (10% of offered capital) |
| Local Share Price | NPR 100 per share |
| Project-Affected Areas | Ward No. 1-4 of Machhapuchhre Rural Municipality, Ward No. 19 of Pokhara Metropolitan City |
| Allocation to General Public | 191,250 shares (10% of offered capital) |
| Application Deadline | Ashoj 2nd (extended to Ashoj 17th if necessary) |
| Credit Rating | ‘IRN Double B Minus’ by Infometrics Credit Rating |
| Application Locations |
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| Application Fee | NPR 2 for residents of project-affected areas |