Mandu hydropower is launching in premium Price around Nrs 206 per unit. Is it worth to invest on this ipo?
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Tag: Hydropower
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“IPO Shares of Upper Lohore Khola Hydropower Listed on NEPSE with Opening Ranges”
The Upper Lohore Khola Hydropower Company Limited has successfully listed 50,98,040 units of its IPO shares on the Nepal Stock Exchange (NEPSE). This figure includes shares held by the company’s promoters as well as shares issued to the general public and project-affected locals.
For the first trading day, the IPO shares will be available in a price range of Rs. 97.87 to Rs. 293.61. If the company enters into an agreement with NEPSE, these shares will become tradable in the secondary market on the following day.
Out of the total shares offered, which are valued at Rs. 50.98 Crore, 19,53,279 units worth Rs. 19.53 Crores were made available to the general public during the IPO period, which ran from the 18th to the 22nd of Shrawan in the year 2080.
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“Manakamana Engineering Hydropower IPO Shares Listed on NEPSE: Opening Ranges”
Manakamana Engineering Hydropower (MEHL) has recently listed 8 million IPO shares on the Nepal Stock Exchange (NEPSE). This includes shares held by promoters, those issued to the general public, and project-affected locals. The shares can be traded in the secondary market if MEHL signs an agreement with NEPSE. Of the total 80 million shares valued at Rs. 80 crores, 2.28 million shares worth Rs. 22.76 crores were offered to the general public during the IPO period from the 28th to the 31st of Shrawan in 2080.
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Upper Tamakoshi Hydropower Limited has made the decision to extend the deadline for its rights offering
Upper Tamakoshi Hydropower Limited has made the decision to extend the deadline for its rights offering. The company originally initiated its rights offering on the 18th of Bhadra, 2080, with the intention of closing the offering on the 7th of Ashwin. However, as per an official notice, the rights offering period has been extended, and it will now conclude on the 22nd of Ashwin, 2080.
This rights offering involves Upper Tamakoshi Hydropower issuing 100% right shares, totaling Rs. 10.59 Arba, through the issuance of 105,900,000 units of right shares to its existing shareholders. Following the adjustment for the proposed right shares, the company’s paid-up capital will see a substantial increase, reaching Rs. 21.18 Arba.
Sunrise Capital Limited has been appointed as the issue manager responsible for overseeing this rights issue, ensuring its smooth execution and adherence to regulatory procedures.
The book closure date for this rights offering had initially been set for the 26th of Shrawan, 2080. Consequently, shareholders who have maintained their holdings until this specified date will be considered eligible to participate in the rights offering, allowing them the opportunity to subscribe to additional shares in the company.
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NEPSE Index Surges by 2.23% Fueled by Hydropower Sector Growth
During today’s trading session, the NEPSE index posted a notable gain, closing at 2,029.78 points, which marked an impressive increase of 44.34 points or 2.23% compared to the previous day’s closing. This upward momentum follows a recent surge of 16.24 points on Tuesday, contributing to a cumulative gain of 64.84 points over the last three working days. This surge has propelled the index back to the 2000 level, and the driving force behind this remarkable increase has been the notable rise in the hydropower sector.
The trading day commenced with the index opening at 1,988.71 points, hitting an intraday low of 1,988.67 points. However, it also reached an intraday high of 2,040.28 points before ultimately settling at its closing value of 2,029.78 points.
Today’s trading activities featured 278 different stocks that were traded in a total of 119,359 transactions. The volume of shares exchanged reached 11,264,309, with an overall turnover of Rs. 3.29 Arba. As a result, the market capitalization saw a significant boost, reaching Rs. 30.59 Kharba, with a float market capitalization of Rs. 10.77 Kharba.
One of the prominent performers during today’s trading was Sun Nepal Life Insurance Company Limited (SNLI), which recorded the highest turnover, totaling Rs. 20.18 crores, and closed with a market price of Rs. 470 per share.
Notably, the trading session witnessed a substantial rise in the stock prices of nearly eight hydropower companies, making them an attractive choice for many traders due to their lower-than-usual pricing.
On the downside, the NIBL Growth Fund (NIBLGF) experienced the most significant loss of 4.07% during today’s trading.
In terms of sector indices, all sectors ended the day in positive territory, with the Hydropower Index leading the way with a substantial gain of 5.31%, followed closely by the Finance Index, which saw a 4.38% increase.
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Mid-Solu Hydropower Initiates IPO Offering: 6,21,172 Units Available for Public Subscription
Mid-Solu Hydropower Company Limited has initiated the issuance of 6,21,172 IPO shares, each with a par value of Rs. 100, starting from the 29th of Bhadra, 2080. The early closing date for this IPO issue is set for the 2nd of Ashwin, and in the event that it is not fully subscribed, the closing date may be extended up to the 12th of Ashwin, 2080.
Out of the total 7,48,400 units of IPO shares, 10% amounting to 74,840 units has already been allocated to Nepalese citizens working abroad. Additionally, 2% (14,968 units) has been reserved for the company’s employees, and 5% of the total offered shares, equivalent to 37,420 units, has been set aside for mutual funds. The remaining 6,21,172 units are available for subscription by the general public, with the IPO opening today.
Previously, the company had issued 7,48,400 IPO shares, which constituted 10% of the issued capital, specifically allocated to project-affected locals in Solukhumbu district from the 14th to the 30th of Shrawan, 2080.
NIC Asia Capital Limited has been appointed as the issue manager for this IPO. Interested investors can apply for a minimum of 10 units and a maximum of 10,000 units.
Mid-Solu Hydropower Limited has received an issuer rating of [ICRANP-IR] BB+ (pronounced ICRA NP issuer rating double B plus) from ICRA Nepal. This rating indicates a moderate risk of default in terms of meeting financial obligations on time.
The company, initially established as a private limited entity on April 19, 2017, transitioned to a public limited company on June 30, 2021, to facilitate public participation. Currently, Mid-Solu Hydropower Limited is engaged in the development of a 9.5-MW Mid-Solu Khola Hydropower Project in Solukhumbu district, Province 1 of Nepal. This project follows a run-of-the-river (R-o-R) model and is being developed with a 40.9% probability of exceedance.
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Chirkhwa Hydropower IPO Allotment for Nepali Migrants
On Tuesday, which was Bhadra 26 in the Nepali calendar, the Chirkhwa Hydropower IPO was allocated to Nepali migrant workers living abroad. The IPO distribution took place at the office of RBB Merchant Banking Limited, which serves as the company’s IPO issue manager.
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“Mandu Hydropower Limited IPO Allotment: 1,20,532 Applicants Receive 10 Units Each Through Lottery”
Mandu Hydropower Limited recently offered 12,05,320 IPO shares to the general public at a price of Rs. 206 per share, comprising a face value of Rs. 100 and a premium price of Rs. 106. This offering took place from the 10th to the 13th of Bhadra, 2080.
Initially, the company had allotted 272,730 units of shares to project-affected locals in Lalitpur and Makawanpur Districts. However, only 193,700 units were allocated to eligible applicants, leaving 79,030 units unsubscribed. These unsubscribed shares from the project-affected locals were then combined with 13,63,640 units (10% of the issued capital initially reserved for the general public), resulting in a total of 14,42,670 units available for the general public.
Out of this total, 136,364 units have already been issued and allocated to Nepalese citizens working abroad, while 72,133 units are designated for mutual funds, and 28,853 units are set aside for the company’s employees. The remaining 12,05,320 units are intended for the general public.
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“ICRA Nepal Gives Unitech Hydropower B+ Issuer Rating Signaling High Default Risk”
ICRA Nepal Limited has given Unitech Hydropower Company Limited an issuer rating of [ICRANP-IR] B+. This rating signifies that Unitech Hydropower Company Limited carries a high risk of not meeting its financial obligations on time. It’s essential to understand that this rating is a general assessment of the company’s creditworthiness and is not tied to any specific debt instrument.
For these rating categories, ranging from [ICRANP-IR] AA to [ICRANP-IR] C, a plus (+) or minus (-) sign may be added to indicate their position within the category. In this case, [ICRANP-IR] B+ is slightly better than [ICRANP-IR] B, while [ICRANP-IR] B- is slightly lower than [ICRANP-IR] B.
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“Mai Khola Hydropower Calls AGM on 9th Ashwin to Discuss 100% Right Shares Issuance”
Mai Khola Hydropower Limited (MKHL) has scheduled its Annual General Meeting (AGM) for the 9th of Ashwin, 2080. The meeting will take place at Lord Party Venue in Dhumbarahi, Kathmandu, commencing at 9 a.m.
The AGM’s agenda includes the following items:
1) Approval of the financial reports for the fiscal year 2079/80.
2) Endorsement of the auditor’s report, including PL statements, financial reports, and cash flow reports.
3) Confirmation of the auditor’s appointment for the fiscal year 2080/81.
4) Ratification of decisions and actions taken by the Board of Directors.
5) Authorization to issue 100% right shares from the current paid-up capital of Rs. 31.21 Crores.
6) Consideration of changing the company’s location.
7) Amendment of the Articles of Association following an increase in the authorized, issued, and paid-up capital of the company.
8) Miscellaneous matters. -
“Final Day to Apply for Mandu Hydropower IPO for General Public”
The initial closing date for this offering is set for the 13th of Bhadra. If the subscription falls short, the deadline could extend to the 24th of Bhadra, in the year 2080.
CDS and Clearing Limited (CDSC) has reported that they’ve received a total of 833,615 applications, requesting a combined 9,136,780 unit shares, amounting to approximately Rs. 1.88 Arba. This indicates an oversubscription of about 7.58 times as of this morning.
Initially, the company had allocated 272,730 unit shares to locals affected by the project in Lalitpur and Makawanpur Districts. Of these, only 193,700 units were assigned to eligible applicants. Consequently, the remaining 79,030 units of unsubscribed shares from these locals are now added to the 1,363,640 units (which accounts for 10% of the total issued capital, reserved for the general public). This results in a total of 1,442,670 units being offered to the general public.
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“Joshi Hydropower Calls AGM on 31st Bhadra to Approve 65% Right Shares Issue”
Joshi Hydropower Development Company Limited has scheduled its 8th Annual General Meeting (AGM) for the 31st of Bhadra. The AGM will take place at Lisara Banquet Hall in Naxal, commencing on Sunday at 11:00 AM. The company has also announced that the book closure date has been set for the 18th of Bhadra. This means that investors who hold shares before this date will be qualified to participate in the company’s 8th AGM.