Sahas Urja Limited is distributing 70 lakh units of initial public offering (IPO) shares to the general public from Ashwin 6.

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During week of Ashwin 6-10, 2078, Sahas Urja Limited, the developer of the 86 MW Solu Khola Dudh Koshi hydroelectric project, would issue 70,00,000 units worth Rs 70 crore as an Initial Public Offering to the general public. It is possible that the issue will not be fully subscribed by the early closing date of Ashwin 10, and that the issue will be prolonged until Ashwin 20, 2078 if it is not fully subscribed by Ashwin 10.

Out of total of 70,00,000 units offered, 3 percent of the total offered shares to the general public, or 2,10,000 units, have been set aside for the company’s employees, and 5 percent of the total offered shares to the general public, or 3,50,000 units, have been set aside for mutual funds, according to the company. The remaining 64,40,000 units are for sale to the general public, according to the company.

Applications can be submitted for a minimum of ten units and a maximum of ten million fifty thousand units.

issue manager for the initial public offering (IPO) has been designated as NIBL Ace Capital Limited.

company intends to issue a total of 1.05 crore unit shares to locals and the general public through an initial public offering (IPO) in many rounds. The first part of the initial public offering (IPO) has already been issued and distributed to the residents of the project’s affected area.

Once shares are issued to residents and general public, the paid-up capital of the firm will be Rs 3.50 arba, and the public will possess a 70:30 stake in the company, according to the company’s website.

Sahas Urja Limited has been awarded an issuer rating of [ICRANP-IR] BB+ (pronounced ICRA NP issuer rating double B plus) by ICRA Nepal, which stands for International Credit Rating Agency Nepal (Sahas).

With a total estimated cost of Rs 11.86 Arba, Solu Khola project is the largest hydroelectric project promoted by private power producers. NIBL is the lead lender for the project, which has received Rs 8.65 Arba in loans from a of nine financial institutions.

Sahas Urja Limited (Sahas), which established in February 2014 as a private limited company, was transformed to a public limited company in September 2014 in order to allow for greater public engagement in project. Approximately NPR 2,450 million had been placed into the company’s paid-up capital as of mid-July 2020. Mr. Mahendra Kumar Giri (2.29 percent stake), Mr. Sushil Thapa (2.11 percent stake), Ms. Anupama Thapa (2.04 percent stake), and Mr. Him Prasad Pathak (1.94 percent stake) are among the major promoters. Mr. Sushil Thapa (2.11 percent stake), Mr. Mahendra Kumar Giri (2.29 percent stake), Mr. Sushil Thapa (2.11 percent stake), Mr. Him Prasad Pathak The company intends to raise NPR 1,050 million, or 30 percent of the entire equity, from ordinary shareholders through the proposed first public offering (IPO) issue. It is constructing an 86-MW Solu Khola (Dudh Koshi) hydroelectric power plant in Nepal’s Solukhumbu District, Province 1. Approximately 40.70 percent of the project’s potential exceedance is due to run-of-the-river (R-o-R) characteristics (Q40.70).

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