First Business News Portal in English from Nepal
KATHMANDU: Balephi Hydropower Limited has published an offer letter to issue an IPO to the general public. The IPO issue will open today, i.e. on 16th Chaitra and close on 21st Chaitra, 2078. If not subscribed by the early closing date, the deadline can be extended till 30th Chaitra.
18,27,970 shares will be issued at a par value of Rs. 100 per unit. 4% of the total issue, i.e. 73,119 units have been allocated for employees while 5%, i.e. 91,398 units have been allocated for mutual funds. The rest 16,63,453 shares are for the individual public.
The minimum bid quantity is 10 units while the maximum is 1,00,000 units. Global IME Capital has been appointed as the issue manager for the IPO issuance. ICRA Nepal Limited has rated the issue Double B, indicating a moderate risk of default regarding timely servicing of financial obligations.
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