Final Day to Apply for Super Khudi Hydropower’s IPO Today

Super Khudi Hydropower Limited has today, Falgun 11, marked the final day for investors to apply for its Initial Public Offering (IPO) issued to the general public. The company had opened the issue from Falgun 5, offering 1,286,500 ordinary shares at a face value of NPR 100 per share.

Investors are allowed to apply for a minimum of 10 shares and a maximum of 100,000 shares. The issue and sales manager for the IPO is Global IME Capital Limited. Applications can be submitted through ASBA member banks and financial institutions authorized by the Securities Board of Nepal, as well as through the Meroshare online system.

The company has received an issuer rating of “CARE-NP BB” from CARE Ratings Nepal. This rating indicates a moderate level of risk in the company’s ability to meet its financial obligations.

IPO Oversubscribed by More Than 21 Times

According to data from CDSC, as of Sunday evening, applications had been received from 2,462,115 investors for 27,456,870 shares worth approximately NPR 2.74 billion. This represents an oversubscription of about 21.34 times compared to the number of shares offered.

Earlier, the company had already issued and allocated shares reserved for project-affected local residents and Nepali citizens working abroad. The company received approval for the IPO issuance from the Securities Board of Nepal on Poush 6.

Super Khudi Hydropower is currently developing the 26-megawatt “Upper Khudi” Hydropower Project in Lamjung district. According to the company, physical progress of the project has reached 83.30 percent so far.

The company is chaired by Chetan Pradhan, while its board members include Ganesh Karki, Batu Lamichhane, Nibhita Pradhan, and independent director Dal Bahadur Bista.

According to the company, the funds raised through the IPO will be utilized to complete the hydropower project, strengthen its financial structure, and support long-term renewable energy generation in Nepal.