Taksar Pikhuwakhola Hydropower to Open IPO from Falgun 27
Author
NEPSE TRADING
Taksar Pikhuwakhola Hydropower Limited has announced that it will issue its Initial Public Offering (IPO) starting from Falgun 27. The IPO is being launched for project-affected local residents and Nepalis working abroad.
The company has received approval to issue 42,306,668 ordinary shares worth NPR 423.06 million, which represents 35.26 percent of its issued capital of NPR 1.2 billion. Out of this, 1.2 million shares (at a face value of NPR 100 per share) have been reserved for local residents of the project-affected area, mainly from Bhojpur district.
Similarly, 10 percent of the shares allocated for the general public—equivalent to 303,067 units—have been set aside for Nepalis employed overseas. In addition, 151,533 shares have been reserved for mutual funds and 60,613 shares for company employees.
Investors can apply for a minimum of 10 shares and a maximum of 50,000 shares. For local residents, the application period will close as early as Chaitra 11 and no later than Chaitra 26. For Nepalis working abroad, applications will close between Chaitra 1 and Chaitra 11.
The company has received an issuer rating of “CARE-NP BB+” from Care Ratings Nepal, indicating an average level of risk in meeting its financial obligations.
Taksar Pikhuwakhola Hydropower is operating an 8 MW hydropower project with a total investment of NPR 1.88 billion. The cost per megawatt stands at NPR 235.3 million. The project’s generation license has 25 years and 4 months remaining. The simple payback period is estimated at 9.17 years, while the discounted payback period is 18.37 years.
The issue and sales manager for the IPO is Prabhu Capital Limited. Local residents can apply through Prabhu Capital, the project office in Bhojpur, designated branches of Prabhu Bank and Citizens Bank International in the district. A fee of NPR 2 is applicable for obtaining application forms.
Nepalis working abroad can apply through banks and financial institutions approved by the Securities Board of Nepal under the C-ASBA system. This system allows eligible applicants to submit their applications digitally in a secure and convenient manner.
