Joshi Hydropower Development company to float IPO worth Rs.16.90 crore for general public from 16 Mangsir 2075. The issue will be closed on 19 Mangsir 2075.
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.
It has allocated 3% or 50,714 units for employees, 5% or 84,523 units for the mutual funds and remaining 15,55,233 units for the general public.
One can apply minimum 50 units & maximum 8 lakh units.
Siddhartha capital Limited has been appointed as issue manager for IPO.
Interested applicants can apply from All C-ASBA approved Banks & financial institutions.
Paid up capital will reach Rs 37.14 crore after IPO issuance.
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.
