Solu Hydropower Limited’s Initial Public Offering (IPO) has been added to the approval pipeline of SEBON (Securities Board of Nepal). The company intends to issue 20,000,000 unit shares to both local and general investors, with the IPO expected to generate a total of Rs. 2 Arba.
Nabil Investment Banking Limited has been designated as the issue manager responsible for overseeing the IPO process. The application for this IPO was submitted to SEBON on Ashwin 23, 2080.
Infomerics Credit Rating Nepal Limited (Infomerics Nepal) has assigned an issuer rating of IRN BB (Is) [Double B (Issuer)] to Solu Hydropower Limited. This rating suggests a moderate level of default risk in terms of meeting financial obligations.
Similarly, the IPO proposal of Taksar Pikhuwa Khola Hydropower Limited has also been included in SEBON’s IPO pipeline. Taksar Pikhuwa Khola Hydropower Limited has presented a proposal to the capital market regulator to issue a total of 4,230,668 shares to both local and general investors, raising an amount of Rs. 42.30 crores for the company. The application for this IPO was submitted on Ashwin 26, 2080.
Prabhu Capital Limited has been appointed as the issue manager for the public offering of Taksar Pikhuwa Khola Hydropower Limited.
CARE Ratings Nepal Limited (CRNL) has reaffirmed a rating of ‘CARE-NP BB’ for the long-term bank facilities of Taksar Pikhuwa Khola Hydropower Private Limited (TPKH).