IPPAN protests 28-month IPO delay, warns of legal action
Summary
The Independent Power Producers’ Association of Nepal (IPPAN) accuses the Securities Board of Nepal (SEBON) of a 28-month delay in hydropower IPO approvals causing losses over Rs 108.5 billion and warns of legal action if unresolved.
Key Points
- IPPAN accuses SEBON of delaying hydropower IPO and rights share approvals for 28 months.
- The delay has caused losses exceeding Rs 108.5 billion to Nepal's energy sector.
- SEBON introduced an undefined "real net worth" requirement to cancel six IPO applications.
- IPPAN threatens legal action and protests if SEBON does not act within 15 days.
