Kathmandu: Darakhola Hydro Energy Limited is opening its Initial Public Offering (IPO) to the general public from Thursday.
The IPO, which had earlier been issued and allotted to locals of the project-affected areas and Nepalis working abroad, is now entering its second phase targeting general investors.
The company had received approval to issue 38.33 percent of its total paid-up capital, which amounts to Rs 395 million or 3,950,000 units of shares out of its total capital of Rs 1.03 billion.
From this, 1,030,500 shares worth Rs 103 million had been issued to residents of the project-affected area, while 291,950 shares worth Rs 29.1 million had been allocated to Nepalis living and working abroad. These shares have already been distributed.
Additionally, the company has already allocated 58,390 shares for its employees and 145,975 shares for mutual funds.
Now, in the second phase of its public offering, the company is offering 2,423,185 units of shares worth Rs 242.3 million at a face value of Rs 100 per share. These shares are now open for applications from general investors.
Interested investors can apply for a minimum of 10 shares and a maximum of 50,000 shares in this offering. The IPO is expected to attract significant attention from retail investors, especially in the current market environment where hydropower companies have continued to remain a popular investment choice.
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