Joshi Hydropower development company limited to float initial public offering (IPO) from 08 Jestha 2075 for locals of the project affected areas. The IPO offer will be close of 22 Jestha 2075.
The hydro power company will issue 3,71,400 units of shares for local resident of Ward 1,3 & 4 of Illam district.
Interested applicants can apply for minimum 50 units & maximum 1,800 at the face value of Rs.100.
The issue manager is Siddhartha capital limited.
The interested applicants can apply from all the ASBA & C-ASBA approved banks & financial institutions.
The IPO is 10% of paid up capital. The company will issue 30% of capital as IPO to general public in near future. ICRA Nepal has graded 5 to this IPO which indicates poor fundamental.
Presently, Joshi Hydropower operating 3000 KW Upper Puwa-1 HEP in Mahjuwa VDC in Illam.
