Joshi Hydropower Development company got final approval to float IPO worth 16.90 crore for general public.
The company will be issuing 16,90,470 units at the rate of Rs.100 for public. This issue includes unsubscribed 242,010 units shares from locals & 14,48,460 units which were allocated for public.
Siddhartha capital Limited has been appointed as issue manager for IPO.
The hydropower had issued 3,71,400 unit shares for the locals of Ilam municipality from 08 jestha 2075 where 2,42,010 units were unsubscribed.
Presently, Joshi Hydropower operating 3000 KW Upper Puwa-1 HEP in Mahjuwa VDC in Illam. ICRA Nepal has graded 5 to this IPO which indicates poor fundamental.
